Birmingham office market showing signs of recovery
A 134,000 sq ft letting in Brindleyplace has provided a timely boost to the Q2 central Birmingham office market figures.
Take up in Q2 totalled 223,611 sq ft ft in 29 deals, according to statistics released by the Birmingham Office Market Forum.
When added to the 30 deals totalling 113,326 sq ft in quarter one, the half year figure totals 336,937 sq ft in 59 deals.
If this figure were to be matched in the second half of the year it would give an annual total of 673,874 sq ft which would compare very favourably with last year’s total of 500,955 sq ft.
This quarter’s figures, though, are very much the story of two deals. Deutsche Bank has taken 134,000 sq ft of space at Hines and Moorfield’s Five Brindleyplace building and law firm DWF has taken 22,627 sq ft of space at One Snowhill.
There were no other deals over 10,000 sq ft during the quarter.
However, office agents suggest there are significant requirements from would-be occupiers which may suggest the city centre office market has turned a corner.
