CBRE appointed to sell investment on “the best UK office building outside of London”

The Birmingham capital markets team at leading commercial real estate services firm, CBRE, has been appointed to sell the investment for 3 Chamberlain Square, a landmark office building that has been labelled “the best outside of London.”

Managed by Federated Hermes, the 191,000 sq ft building is considered best-in-class with purposeful design features that exemplify a modern workplace. Located in Birmingham’s central business district, 3 Chamberlain Square is part of the £1.2 billion Paradise development, expanding the area’s business, residential and leisure offering.

Completed in May 2025, the building’s innovative design has achieved a host of certifications. This list includes EPC A, BREEAM ‘Outstanding’ and NABERS UK 5*, acknowledging its exemplary sustainability credentials, as well as ActiveScore ‘Platinum’ and WiredScore ‘Platinum’, recognising how its design supports active travel and its advanced use of technology respectively.

All nine office floors were placed under offer ahead of practical completion, with the final letting achieving a rent of £52 per square foot, the highest of the UK’s big six cities. Tenants include global law firm, Eversheds, international accounting and advisory firm, Forvis Mazars and ‘big four’ accounting firm, EY. The building has also become home to CBRE’s Birmingham office. The asset boasts a Weighted Average Unexpired Lease Term (WAULT) of over 10 years to breaks and 14 years to expiries.

Nick Woodward, Head of CBRE’s Birmingham Investment team, said: “3 Chamberlain Square is a unique investment opportunity. The building itself achieves excellence in every category, from sustainability credentials to design, making it arguably the best office building outside of London. This is further demonstrated through the extremely high calibre of occupiers that the building has attracted, offering a stable and already reversionary rental income.

“Birmingham as a city is brimming with opportunity, which is only going to get more attractive as HS2 continues to progress and the level of inward investment increases. 3 Chamberlain Square entering the market is the perfect opportunity for those looking to benefit early from Birmingham’s inevitable growth.”

CBRE is quoting a price of £123.2m, which reflects a Net Initial Yield of 6.5% for the asset.