Small firms ‘driving demand for office space’ with flurry of lettings
Small businesses are bucking the economic downturn caused by the pandemic and driving demand for office space in Sutton Coldfield, according to property consultancy Burley Browne.
Lettings to three companies relocating within the area have been completed recently in Sutton Coldfield and Boldmere.
Healthcare company Nexus has agreed a five-year lease on 1,600 sq ft of office space at Mitre Court, in the town centre, as it expands its business.
Solicitors Bell Lax have taken 2,000 sq ft of space at Emmanuel Court at Lichfield Road, relocating from Birmingham Road, on a five-year lease.
Meanwhile, security company Rancom has agreed a five-year lease on 2,000 sq ft of office space at Gate Lane in Boldmere, relocating from Emmanuel Court.
Surveyor Steve Hannaford said: “It’s been very heartening to see companies investing for the future, relocating to larger offices and committing to new leases despite the economic turmoil caused by the pandemic. It demonstrates that they have confidence in the outlook for business and that Sutton Coldfield is a great location.
“The market is quite competitive for office space in the range of 1,500 sq ft to 2,000 sq ft. There appears to be a shortage across the area so when they come to market they are snapped up quite quickly.
“Sentiment remains positive and there was definitely an uptick in activity after the Pfizer vaccine announcement. After the first lockdown we had been expecting to see some companies downsizing to smaller offices, but that hasn’t materialised.”