The building was purchased through auction in August this year.
Located on Hagley Road, one of the main arterial routes in and out of the city, Cobalt Square offers 71,923 sq ft of quality affordable office accommodation across 17 floors. The building’s flexible office suites are configured in sizes ranging from 1,000 sq ft to open plan, column free floor plates of 4,256 sq ft. Cobalt Square is a prime purchase for MCR Group due to its central location and being just minutes from both Five Ways station and with wider access to the motorway network via both the M5 and M6. The building has 24 hour security, secure car parking and panoramic views across the City.
MCR Properties has also announced its plans invest heavily in the refurbishment of the building. This is to include all lift lobbies, vacant office suites to include raised floors and air con throughout. The WC’s are to be refurbished with the inclusion of shower rooms at ground floor for cyclists. MCR will also utilise one of the floors to open its new Birmingham office, to add to its Manchester and London offices.
John Poole, head of commercial at MCR Property, said: “Cobalt Square is an excellent addition to our Midland’s portfolio. The building is situated in a prime location on the gateway to Birmingham’s central business district, providing convenient access to all local amenities. Cobalt Square is ideal for growing companies with its flexible lease terms and accommodation.
“Over the past 12 months, we have continued to grow our commercial property portfolio with a number of acquisitions. We will continue to look for opportunities in the Midlands’ as we believe there is some still some excellent value to be realised.”
MCR Property recently purchased Monaco House on Bristol Street from Tesco in a multimillion pound deal.