A new era for a prominent Hull city centre office complex is ‘on track’ with a prestigious early tenant secured.
Cherry Tree Court’s £1.5 million refurbishment is underway as leading asset and property management company FI Real Estate Management overhauls the 35,000 sq ft Ferensway building.
Hull Trains is jumping on board to become the first tenant at the former HM Revenues and Customs office, after agreeing to take 5,000 sq ft of the grade A office space.
The open access rail operator will take occupancy in June, while FIREM will introduce its flexible office provision, FigFlex Offices, in September.
It will be the first to open in the North, and fourth in the UK – following Coventry, Gloucester and Swindon.
In addition to offering serviced offices for up to 20 desks, FigFlex provides coworking space, meeting rooms and virtual offices.
Together they form phase one on the ground floor of the three-storey building, in what will be a £1.5 million refurbishment including new heating and cooling system.
A spokesperson said: “FIREM is investing in upgrading the building to an excellent standard ahead of the arrival of Hull Trains and FigFlex, and we’re looking forward to welcoming more tenants.
“We’re really excited about what lies ahead. Cherry Tree Court sits in a fantastic location, right in the heart of Hull city centre, with virtually every amenity you’d need within walking distance.
“It has been a pleasure dealing with Hull Trains and we’re very excited to welcome such an iconic name to Cherry Tree Court. We feel that this building is custom-made for Hull Trains.
“Not only will it offer newly refurbished office space, worthy of such a locally renowned organisation, but it couldn’t be much closer to Hull train station, sitting right in the heart of the city centre.”
Garness Jones has been appointed to market the remaining 24,000 sq ft available on the two upper floors, with bespoke fit out on offer to create an appealing office to reunie teams as lockdown restrictions ease.
Hull-based Chameleon Business Interiors is fitting out the ground floor, with new reception for the building. It sits between recent developments the DoubleTree by Hilton and the St Stephens Shopping Centre and Hull Truck Theatre complex, with a £30 million redevelopment plan for a void across Ferensway recently released. It boasts almost 50 car parking spaces, with cycle storage being added, and will feature raised access floors, shower facilities and LED lighting.
Harriet Wagstaff, head of sales at Chameleon, said: “This is a great project and it is great to see more inward investment coming into the city. FIREM is known for developing and managing mixed-use spaces that nurture businesses. It’s a pleasure to be working with the team at FIREM and Garness Jones on such a prominent Hull building.
“Following on from recent investment in the Hull Truck Theatre and Double Tree Hilton, it is great to see some grade A office space being introduced to the area to increase footfall at this side of the city.
“Cherry Tree Court offers a number of attractive office accommodation options across three floors – and the co-working space is perfect for those looking for a flexible city centre address. We look forward to seeing which businesses choose to make their homes there.”
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The building forms part of FIREM’s 10 million sq ft portfolio of commercial property across the UK, including North Point Shopping Centre in Hull. The company also has a further 2.6 million sq ft of new build property in the pipeline.
Paul White, director at Garness Jones, said: “There is good interest already. People are nervous around the office market, but in Hull there is a lot going for it, especially as we are seeing several residential conversions.
“This will have serviced space on the ground floor, with the first and second floors available as a single lease or two three or four suites. It is very good accommodation.”