Birmingham (15 October 2025) – Newmark announces the completion of two major lease extensions at Victoria Square House in Birmingham city centre. The deals see both The Gambling Commission and The Office for the Public Guardian commit to more than 100,000 square feet of office space. Newmark’s George Jennings advised Ardstone Capital Ltd, the asset manager for the landlord – Ardstone Regional Office Fund, a joint venture fund with CBRE Investment Management (IM).
The Gambling Commission has extended its lease on the fourth floor, comprising 26,000 square feet. The Office for the Public Guardian has committed to 81,000 square feet across the lower ground, part ground, first and third floors. Together, the regears secure over two-thirds of the building’s total footprint.
Victoria Square House, which comprises 160,000 square feet on an island site of two acres, is located in a prime position in Birmingham city centre, adjacent to the renowned Paradise development and moments from New Street Station. The lease extensions will allow time for the extensive development potential of the asset to be explored in more detail in the medium term. The scale and location of the asset will cater for a variety of potential uses across the commercial and residential sectors.
Michael Cecil, Head of Asset Management at Ardstone Capital, said: “Ahead of the asset sale scheduled for later this year the lease extensions will allow time for the extensive development potential of the asset to be explored. Victoria Square House occupies a significant slice of Birmingham’s CBD and we are delighted that the UK Government has committed to stay for a further period.”
George Jennings, Partner at Newmark Group, added: “These extensions reflect a broader government strategy to retain existing office space, delivering value for public funds by avoiding the costs and disruption associated with relocation. We’re delighted to have played a key role in delivering this outcome.”
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.
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