Solihull office market sees promising start to the year

The Solihull office market had a promising start to the year with several small transactions in a variety of sectors.
KWB’s M42 and Solihull Q1 office market research reports that total take up was 24,300 sq ft comprising over ten transactions, all in the 0-5,000 sq ft bracket.
The largest deal saw training company Energy & Utility Skills sign up to 5,005 sq ft at Avon Business Centre in Shirley, relocating from Friars Gate a short distance away.
The second largest deal was to care company Leaf Complex Care, which upsized taking 4,158 sq ft at 2660 Kings Court at Birmingham Business Park.
This was followed by financial services company AutoMoney Motor Finance (Mobile Money) taking 3.500 sq ft at 3 Brooklands.
Larger deals that were put in motion early in 2022 are expected to complete in Q2, meaning that square footage could be as much as double that of Q1.
Malcolm Jones, head of office agency at KWB said: “The out-of-town office market in Birmingham is well known for welcoming a wide range of occupiers and Q1 2023 was no exception. There are a variety of stories behind the deals, from downsizing to upgrading and some doing both. This particular set of drivers for relocation has been common, as occupiers have improved their office space to enhance their ESG focus but reduced their office stake in light of the working flexibility they now offer their teams.
“Seeing businesses expanding out of serviced offices or otherwise taking their first traditional space is an excellent sign from the market, indicating prosperity and growth.”
He added: “The prevailing theme for the Solihull office market for several years now has been lack of space. However, we have seen a few notable buildings have become available that offer occupiers new options and should free up the market for increased movement.”