CBRE Global Real Estate Income Fund : Investment Management Partners with Spacemade at 10 Brindleyplace Birmingham

CBRE Investment Management (CBRE IM) partners with Spacemade, a flexible space operator, who will manage 27,000 sq ft at 10 Brindleyplace, Birmingham.

10 Brindleyplace will be Birmingham's largest office development to complete this year after it has undergone a £40 million back to the frame transformation. With the creation of 210,000 sq ft of high-quality grade A office space, this market-leading workplace will be opening in the summer.

Partnering with CBRE Investment Management, Spacemade will deliver 27,000 sq ft of flexible workspace at 10 Brindleyplace. Amenities will include private studios and co-working space for more than 500 people, meeting room and podcast facilities, coffee shop and roastery and a 2,000 sq ft auditorium and event space.

Spacemade, set-up by co-founders Jonny Rosenblatt and Dan Silverman, is the largest bespoke flex operator enabling landlords to deliver space to their customers. Spacemade will bring a flexible and sustainable co-working model to 10 Brindleyplace, with a range of amenities, including podcast studios and zoom rooms, that should appeal not only to the Birmingham market but also to the building's own occupiers. Spacemade shares 10 Brindleyplace's strong focus on ESG and will work with the local community to provide much-needed incubator programmes, mentoring and training, as well as partnering with local social investment charities.

Nick White, Director at CBRE Investment Management, said: "With the intention to offer the wider occupier market the option for flexible/co-working space at Brindleyplace, 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. We're now working closely together as we draw up the designs for the space and we're really excited to launch in the summer."

Dan Silverman, co-founder at Spacemade said: "The addition of flexible workspace to 10 Brindleyplace completes the brilliant amenity that CBRE IM has built into the scheme. By keeping control and transparency of the flexible workspace, CBRE IM is able to retain the relationship with their customers and fully integrate this crucial amenity into the rest of the building, therefore creating a truly seamless customer experience.

"With the increased focus on hybrid working, this environment will give members the variety and flexibility required to attract Birmingham's best talent to the office."

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

Further ESG credentials for 10 Brindleyplace include:

• Being a Net Zero building - the energy saved could power the equivalent of 117 homes
• The building has an all-electric system powered by green energy
• Targeting BREEAM Excellent and 5-star NABERS rating
• There will be 840 sq ft of on-site solar PV, generating renewable energy and helping to reduce occupier costs
• 100% of construction waste is being diverted from landfill
• 100 cycle spaces and 24 electric vehicle charging stations
• Green roofs and terraces, supporting biodiversity and wellbeing
• Building Lives Academy - supporting 15 long-term unemployed candidates aged 29+, with a site visit, sessions and workshops to help them get their CSCS cards and Level 1 Health and Safet
• The redeveloped asset will also deliver carbon efficiencies which include:
• 60% savings on embodied carbon, compared to creating a new development
• 65% annual operational energy savings, compared to a typical office of equal size
• 53% operational carbon reduction, compared to pre-refurbishment
• Savings of 658 tonnes of CO2 per year, or the same mass as 100 Bullring Bulls.

CBRE and Savills are acting as joint agents for the office space.

www.10brindleyplace.co.uk/

About CBRE Investment Management

CBRE Investment Management is a leading global real assets investment management firm with $141.9 billion in assets under management* as of December 31, 2021, 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 2021 revenue). CBRE has more than 105,000 employees (excluding 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.