Commonwealth Games deal gets Birmingham’s office market off to fast start

A large letting to the organisers of the Commonwealth Games pushed Birmingham’s office market take-up figures up to their second-fastest start in a decade.

Birmingham 2022 is setting up its base in One Brindleyplace and has agreed a deal for 72,261 sq ft of space.

A second deal, that was also advised by JLL, will see Irwin Mitchell relocate from Temple Street into The Colmore Building. The law firm has taken 46,750 sq ft across two floors.

194,014 sq ft of space was taken in 25 deals in Q1 2019:

The two deals, which were secured at the end of March, pushed the first quarter total take-up to 194,014 sq ft, according to data collated by the Birmingham Office Market Forum (BOMF).

BOMF said: “The Q1, 2019 outcome represents a very encouraging start to the year at a time when occupiers are understandably taking their time in making strategic decisions.”

Only once since the recession has the first quarter outperformed the 2019 figures, which was in 2016 when PwC’s Paradise deal and moves for law firms Pinsent Mason and DAC Beachcroft pushed the first-quarter total to 283,000 sq ft.

James Campbell Adamson and Raj Rajput from Hines with Brindleyplace’s new identity

The letting to Birmingham 2022 is a boost to Brindleyplace, which yesterday launched a rebrand of the estate.

Asset manager Hines UK has committed to £7m of investment in the site that is focused on refurbishing three buildings.

James Campbell Adamson from Hines said: “The investment in this rebrand is reflective of the current office sector within Birmingham and will ensure that we remain a dynamic and desirable commercial destination for both existing and potential occupiers.”