The first phase of Multistory comprises 27,000 sq ft of retail and leisure space on the ground floor, with CBRE and Creative Retail appointed as leasing agents. The ground floors of the two buildings have been merged to provide eight retail units, linked by a 15,000 sq ft indoor-outdoor bar and café with 2,000 ft terrace, an adjoining atrium, and unique 100-seat auditorium, that together will serve as Multistory’s social focal point. The central space is unique in Birmingham for its size and range of amenities provided, and has been created by Railpen to establish a sense of community and connection between employees and their place of work.
Ranging in size from 450 sq ft to 6,770 sq ft, the retail and F&B space can accommodate a range of uses, including a gym, library, restaurant, bar, café, and leisure, all complementing the atrium offer. Railpen is targeting a mix of local independents and national operators to create a compelling mix that will appeal to Multistory’s community, as well as the significant surrounding worker, commuter and residential population.
Other facilities delivered in Multistory’s phase one include co-working space, meeting rooms, quiet space, secure parking for over 280 bikes, shower and changing facilities, 92 car parking spaces, and ten EV charging points. Combined with the atrium and retail units, Multistory’s offer will encourage more time to be spent in the offices, and help occupiers to attract and retain the best staff.
Emily Atkinson, Asset and Transaction Manager at Railpen, said: “While office demand in Birmingham is very strong, occupier needs are evolving. Much greater emphasis is being placed on the appeal of the space to employees, not just in terms of location, but amenities, the overall experience, and the ability to facilitate team building. Our transformation of Multistory reflects these new dynamics, creating the best amenity space in the city, complemented by ideal retail and leisure units.
“We are confident the sense of community the offer will create will further boost the appeal of Multistory to office occupiers, with the refurbishment setting a new standard in the city for the value it places on the connection between people, space and place.”
The new retail and leisure units and amenity space form part of the wider investment in Multistory, with Railpen refurbishing 73,000 sq ft of office space to Grade A standard, providing occupiers with the largest floor-plate in Birmingham at 40,000 sq ft. The offices, including two new reception areas on The Old Square and Colmore Square, are due to be completed in September this year.
In line with its priorities as a business, sustainability and wellbeing are central to Railpen’s transformation of Multistory, with the team targeting WiredScored Platinum, BREEAM Outstanding, EPC B and a Fitwell two-star rating. The construction works are using 97% recycled steel and saving 60% of embodied carbon by refurbishing rather than rebuilding the space. Upon completion, Multistory will use 100% renewable energy.
Multistory is a three-minute walk from Snow Hill train station, five minutes from Birmingham New Street, and five minutes from the proposed HS2 station. Occupiers with major offices in the area include Ernst & Young, RBS, KPMG, Irwin and Mitchell, and Barclays.
Railpen’s advisory team comprises CBRE and Creative Retail (retail and leisure leasing), CBRE and Avison Young (office leasing), and V7 Asset Management (development management).
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"We are confident the sense of community the offer will create will further boost the appeal of Multistory to office occupiers, with the refurbishment setting a new standard in the city for the value it places on the connection between people, space and place."
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