MEPC's Three Chamberlain Square office in central Birmingham has won a CoStar 2026 Impact Award for its contribution to regenerating the area and boosting the local economy.
An independent panel of real estate professionals awarded the 189,000-square-foot workspace Commercial Development of the Year for the West Midlands after it was fully let at the beginning of 2026.
The Grade A scheme, which forms part of the wider £1.2 billion Paradise mixed-use development, is occupied by major firms such as CBRE, EY, Eversheds and Forvis Mazars. It is also one of the UK's most sustainable commercial buildings, with BREEAM 'Outstanding' and a NABERS 5‑star in design credentials.
Those behind the project say the commitments of blue-chip firms have helped to bring new investment, high-skilled employment and long-term economic stability to the region.
Earlier this month CBRE was instructed to sell the building, with MEPC seeking offers in excess of £123 million, reflecting a 6.% net initial yield. The building is expected to test investor appetite for prime regional offices.
About the project: The development of Three Chamberlain Square presented a number of challenges for the project team, namely dealing with a dense and historically sensitive city-centre site next to the Grade I‑listed Town Hall. Despite this they delivered the project on time after a 25‑month programme.
Advanced engineering, low‑carbon materials and innovative construction methodologies were all needed to achieve high sustainability accreditations, while the project significantly reduced embodied carbon by using a specific type of terracotta for the more than 8,000 panels on its facade.
Additionally, the development team highlighted that the project was delivered during challenging economic conditions, including supply‑chain pressures and labour constraint. The building did, however, let up shortly after completion, "demonstrating strong market confidence".
What the judges said: Ralph Minott, master planning and development director, Calthorpe Estates, said: "The Paradise landmark masterplan has been progressed to high specification in spite of rival iconic workspace masterplans at the city's Arena Central, Snow Hill, and Colmore Row, responding with higher and higher specification goals with each phase, up front taking long-term economic risks of ultimate 'lettability' nevertheless.
"No Paradise phase more so than Three Chamberlain designed and specified for development as one of the UK's most sustainable buildings. Its design resonates to the region's industrial heritage, presenting a modern antithesis next door to the 1832 Grade I Listed Town Hall.
"Its full letting, epitomised by the almost 50% letting commitment by EY, one of the 'Big Four' professional services firms. The brave vision's completion and letting success is incredible."
Joe Williams, director, land and development at Avison Young, added: "The latest office development within Paradise serves as another key advertisement of the city.
"Its appearance and energy credentials are best in class, and will serve to attract further investment into the city centre at a time when it is most needed."
They made it happen: Alex Housden, development manager, MEPC; Alina White, partner, FCBStudios; Alex Whitbread, senior partner, FCBStudios; George Wilson, senior partner, FCBStudios; Chris Hucknall, project manager, Sir Robert McAlpine; Laurence Vickers, project management lead, AtkinsRealis; Alice Wilkes, associate director, AtkinsRealis; Timothy Newcombe, senior engineer, Cundall; Tim Stidwell, partner, structural engineering, Cundall and Georgina Keane, senior planner, Turley.
