Railpen secures pair of retail and leisure lettings at Birmingham’s Multistory

Railpen, manager of the £34bn railways pension scheme in the UK, has signed two retail and leisure brands at Multistory, it’s 295,000 sq ft office building in Birmingham.

These signings follow the completion of phase one of the building, which saw the creation of 27,000 sq ft of retail and leisure space on the ground floor, with one unit remaining to let.

Launching its first location in Birmingham is the Liverpool-founded 92 Degrees Coffee. Opening in early February, the coffee shop will be open to both the public and tenants, offering sit-in or takeaway coffee, alongside a kiosk with a dedicated co-working hub.

Also joining Multistory is gym and wellness studio That Day Fitness, which has signed for a 5,300 sq ft space. Due to open in Q1 of this year, the space will offer wellbeing workshops, fitness classes, therapy, and coaching. That Day Fitness will add to a collection of amenity uses within Multistory’s workspaces, including a library, a 15,000 sq ft indoor-outdoor bar and café area with a 2,000 sq ft terrace, an adjoining atrium, and a unique 80-seat auditorium.

Emily Atkinson, asset and transaction manager at Railpen, said: “Securing That Day Fitness and 92 Degrees Coffee is a strong endorsement of the direction we are taking with Multistory. These brands share our ambition to create places that establish a sense of community and connection between employees and their place of work. This is an approach we take across our entire office portfolio, selecting brands that will add real value for people working in and around our developments, but also ones that encourage staff retention, attraction, and productivity.”

Multistory is one of Railpen’s multiple developments across its office portfolio in the UK, which includes Mill Yard and Botanic Place in Cambridge, both of which are currently under construction, alongside several in London, such as Red Lion Square, 125 Wood Street, 101 Bayham, Jamestown Courtyard, 4 Coleman Street, and 12 Smithfield.

CBRE and Creative Retail are the retail and leisure leasing agents on Multistory, CBRE and Avison Young lead on the office leasing, with V7 Asset Management advising.