CBRE Investment Management and Spacemade celebrate as 10X coworking space hits 96% occupancy at 10 Brindleyplace Birmingham

CBRE Investment Management and flexible space operator Spacemade celebrate the success of 10 Brindleyplace’s co-working space, 10X, which has reached 96% occupancy, just nine months since it launched.

Only one of the 24 offices at 10X remains available, across a total floorplate of 25,000 sq ft. 10X amenities include private studios and co-working space for more than 500 people, meeting room, coffee shop and roastery and a 2,000 sq ft auditorium and event space.

Completed in summer 2023, 10 Brindleyplace, Birmingham has undergone a £40 million back-to-the-frame transformation to create some of the city’s most desirable high-quality grade A office space.

Nick White, Director at CBRE Investment Management, said: “We selected Spacemade because of their shared vision for what we want this scheme to provide. They offer a first-class product, high quality of service to their customers, and most importantly they have very strong ESG credentials, which is critical to this building.”

Dan Silverman, co-founder at Spacemade said: “We were delighted to partner with CBRE Investment Management on the highest quality development to complete in Birmingham in 2023.”

“Working closely with CBRE IM we have successfully integrated the flex and event spaces into value add amenities for the whole asset adding a crucial layer of hospitality for all users. Operating at close to 100% occupancy is clear testament to the rapidly evolving office market and our ability to help landlords of all sizes to adapt to the new world of work.”

Centered around the three pillars of technology, wellness and sustainability, 10 Brindleyplace is the first Fitwel accredited office in Birmingham - a standard that measures occupant health and wellbeing. It is the first workspace in Birmingham to house a uniquely designed bouldering experience in the basement.

Further ESG credentials for 10 Brindleyplace include:

• Being a Zero Emissions Building - the energy saved could power the equivalent of 117 homes
• The building has an all-electric system powered by green energy
• There is 840 sq ft of on-site solar PV, generating renewable energy and helping to reduce occupier costs
• 100% of construction waste was diverted from landfill
• 100 cycle spaces and 24 electric vehicle charging stations
• Green roofs and terraces, supporting biodiversity and wellbeing
• Building Lives Academy - the project supported 15 long-term unemployed candidates aged 29+, with a site visit, sessions and workshops which helped them get their CSCS cards and Level 1 Health and Safety

10 Brindleyplace also has larger solutions from c. 8,000 sq ft to complement the Spacemade offer, providing modern, efficient open plan Grade A floor plates, with stunning views across Oozells Square.

www.10brindleyplace.co.uk/

About CBRE Investment Management

CBRE Investment Management is a leading global real assets investment management firm with $147.5 billion in assets under management* as of December 31, 2023, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.