Take up down in central Birmingham office market

NEWLY-released figures show that take up in the central Birmingham office market in Q1 was 102,353 sq ft – down on the previous quarter and on Q1 2013.

Birmingham Office Market Forum statistics reveal that the 102,353 sq ft was achieved through 28 deals. The largest lets in the first quarter were the 14,682 sq ft taken by law firm Weightmans at St Philips Point, the 12,138 sq ft taken by Healthcare Europe at 19 George Road, Edgbaston, and the 10,000 sq ft taken by insurance broker Perkins Slade at Tricorn House.

But the total compares unfavourably to the 149,928 sq ft Q4 2013 total and the 113, 326 sq ft achieved in Q1 2013.

If the 102,353 sq ft Q! 2014 total was replicated throughout the year it would mean a lettings total of 409, 412 sq ft, which would be well down on last year’s total of 664, 147 sq ft.

However, this figure was skewed upwards by the 134,000 sq ft of space taken by Deutsche Bank at Brindleyplace.