Manchester-based developer Nikal is offering a 20% discount in costs to potential occupiers in a bid to kick-start its 550,000 sq ft Exchange Square – the second phase of its £600m Masshouse scheme in Birmingham.
Nikal is seeking a 50,000 sq ft prelet to get the scheme under way. James Payne, development director at Nikal, said: “We will guarantee that occupiers will pay 20% less costs here than anywhere in the CBD – that covers rents, service charges, etc.”
Headline rents in Birmingham’s central business district are £25-£27.50 per sq ft. Jones Lang LaSalle and GBR Phoenix Beard are letting agents.
lisa.pilkington@estatesgazette.com
