Leading commercial property developer Stoford is to more than double the size of its headquarters after acquiring a Birmingham city centre building.
The award-winning company, which has completed commercial developments of more than 14 million sq ft with a value of over £1 billion, has bought a three-storey Edwardian property on Ludgate Hill, close to St Paul’s Square, for an undisclosed sum.
A comprehensive refurbishment project has been designed by Associated Architects, and is being constructed by Benniman Construction, with Stoford planning to move from Lancaster House, Newhall Street, in the spring.
Matt Burgin, joint managing director of Stoford, said: “We’ve been based at Lancaster House for 15 years, but the continued growth of the business and changing working needs meant we needed a larger office. We wanted to find a new home for the business that we could really make our own.
“Investing in our own building is an important step for the business; it not only demonstrates our commitment to staying in the city, it also enables us to have control of our own asset.
“Ludgate Hill is ideally located as it is close to the main city business core and to the Jewellery Quarter. We love the character of the building and the area; it presents us with a great opportunity to create an excellent working environment for our team. We’re looking forward to the completion of the works and moving in.”
Edward Siddall-Jones, director of Siddall Jones, who acted as vendor’s agents, said: “The property was extremely well received, proving the Jewellery Quarter continues to be regarded as a much sought-after office location, with significant appeal for those wanting to acquire a freehold office close to the city centre.”