Three Chamberlain Square awarded CoStar success
Three Chamberlain Square, the latest class-leading new commercial building at Paradise Birmingham, has been awarded Commercial Development of the Year for the West Midlands in the prestigious 2026 CoStar Impact Awards.
The CoStar awards highlight the commercial real estate transactions and projects across the country that have transformed their markets over the past year, with the winners chosen by independent panels of industry experts that work in the markets they judge.
Three Chamberlain Square is a shining example of highly sustainable, low-carbon design and delivery and the 189,000 sq ft, ten-storey building has already met with commercial success from Blue Chip occupiers with the workspace fully let.
The building champions an approach based around sustainability and innovation through the very latest design principles. This underlines the commitment of Federated Hermes and its specialist development arm MEPC, which manage and develop Paradise Birmingham, to delivering pioneering, low-carbon, low-energy buildings.
Alex Housden, Senior Development Manager, asset manager of Paradise at Federated Hermes Real Estate, said:
“Since Three Chamberlain Square was completed last summer, it has been fully let to several high-profile Blue Chip occupiers, including EY, CBRE, Forvis Mazars, and Eversheds Sutherland. This success has demonstrated that our approach to a highly sustainable, low-carbon building was exactly what the market was seeking. To now see that approach recognised by CoStar with this industry award shows our instinct about the building was correct and has been validated by the marketplace.”
“The entire design and delivery team worked very hard for several years to bring the city’s most sustainable commercial building to life, and it’s been amazing to see that aspiration met with commercial success and now award wins.”
The design is fully realising the aims of office occupiers looking for a step change in sustainability, amenity and carbon footprint for the benefit of their people.
Designed by award-winning architects Feilden Clegg Bradley Studios (FCBS) and constructed by Sir Robert McAlpine (SRM), Three Chamberlain Square is the latest and most sustainable commercial building in the city, underlining Paradise as the number one commercial destination in the region and proving an example of the quality of regional commercial buildings in the UK.
Three Chamberlain Square marks a step change in zero-carbon aspirations for Paradise, Birmingham and occupiers, with a host of sustainability and environmental accreditations, including BREEAM Outstanding, NABERS 5* accreditation and Active and Wired Score Platinum ratings, already in place.
The CoStar Impact Awards recognise exemplary commercial real estate transactions and projects completed in 2025 that have significantly influenced neighbourhoods or submarkets across 129 major international markets in the United Kingdom, United States and Canada. The awards honoured winners for their CRE transactions across three categories: Lease of the Year, Sale/Acquisition of the Year and Commercial Development of the Year.
Andy Florance, Founder and Chief Executive Officer of CoStar Group said:
Now in its fifth year, the CoStar Impact Awards are an incredible opportunity to recognise the real estate projects fundamentally transforming the industry landscape.
“Our diverse panel of judges worked diligently to identify the most impactful commercial real estate projects across a range of categories that are shaping the future of the industry and the communities in which they serve. It’s an honour to recognise the companies and projects propelling the real estate sector forward.”
The Paradise redevelopment is being brought forward through Paradise Circus Limited Partnership (PCLP), a private-public joint venture with Birmingham City Council. The private sector funding is being managed by Federated Hermes.
Paradise sits in the country’s largest city centre Enterprise Zone and has already benefited from investment in enabling and infrastructure works.