A Birmingham office block has welcomed a brace of lease extensions by government bodies.
The Gambling Commission and Office of the Public Guardian have both committed to more than 100,000 sq ft of office space in Victoria Square House.
The Gambling Commission has extended by 26,000 sq ft on the fourth floor while the Office of the Public Guardian has committed to 81,000 sq ft across multiple floors, securing more than two thirds of the building's footprint.
The commission is the regulator of the º£½ÇÊÓƵ gambling industry while the Office of the Public Guardian helps people in England and Wales with decisions about their health and finances and make decisions for those who cannot decide for themselves.
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Victoria Square House comprises 160,000 sq ft of space on an island site of two acres opposite the city's Council House.
The lease extensions will allow time for the development potential of the building to be explored in more detail in the medium term.
Michael Cecil is head of asset management at Ardstone Capital which runs the building on behalf of the landlord Ardstone Regional Office Fund.
He 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 central business district and we are delighted that the º£½ÇÊÓƵ Government has committed to stay for a further period."
George Jennings, partner with property consultancy Newmark, advised Ardstone Capital.
He 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."
