The third office building to be finished on Birmingham's £1.2 billion Paradise estate has officially opened for business.

One Centenary Way has been constructed over the A38 tunnel on the site of the old Adrian Boult Hall which was once home to Birmingham Conservatoire.

The building is 13 storeys and has 280,000 sq ft of space, including bar and restaurant uses on the ground floor and a 12th-floor terrace overlooking Centenary Square and the library.

Its basement has a cycle hub with space for up to 400 bikes, changing rooms and maintenance facilities which will be available to the public as well as tenants of the building from next year.

There is also a sky lantern feature which will show 360-degree light displays capable of changing through more than one million different colours.

Guests at the official launch of One Centenary Way on the Paradise Estate, Birmingham
Guests at the official launch of One Centenary Way on the Paradise Estate, Birmingham

It has been designed by Birmingham-based architecture practice Howells, with engineering input from Arup which itself has taken three floors to house around 1,000 staff currently based in Solihull.

Other leases were signed ahead of the launch with investment bank Goldman Sachs and property agency JLL, with more space under offer, according to the Paradise team.

Office blocks One and Two Chamberlain Square have already opened at Paradise while construction work continues on the 49-storey Octagon apartment tower. Consent is also in place for a new hotel and more office accommodation.

Rob Groves, regional development director at MEPC which is leading the Paradise project, said: "The official launch of One Centenary Way is a huge milestone for Paradise and the city.

"It is another successful element of the Paradise estate and a crucial building for Birmingham in terms of attracting new and existing office occupiers looking to expand or find a new home where they can grow sustainably.

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"It has enabled organisations like Arup and Goldman Sachs to move thousands of jobs to the city centre, contributing to a thriving regional economy and a growing profile for the city's real estate market."

Chris Taylor, chief executive of real estate with funder Federated Hermes, added: "One Centenary Way is evidence of our long-term thinking and commitment to a net-zero future at Paradise.

"One of the largest commercial buildings in Birmingham, One Centenary Way is an exemplary design, a triumph of engineering prowess and a new landmark for the people of the city.

"Paradise continues to build a reputation as the finest regional business destination in the UK that has attracted new jobs, skills and opportunities to the city and will continue to do so as its later phases come through."

Paradise sits in the country's largest city centre Enterprise Zone and has received investment from Greater Birmingham and Solihull Local Enterprise Partnership for enabling and infrastructure works.