Business park’s vacancy rates reach ‘lowest for a decade’
Birmingham Business Park is enjoying its lowest vacancy rate in a decade thanks to a surge of regional investment and development, and high demand for office space both from large firms and small businesses.
A number of factors including high levels of inward investment and regional development have triggered a surge of occupancy at the 148-acre site near Solihull, which is now experiencing its best occupancy rate for many years.
“Birmingham Business Park now has the lowest vacancy rate in a decade,” said the park’s development manager Liz Allister. “The Park’s positive environment, combined with its excellent location and high quality amenities, has drawn many new occupiers including Rolls Royce, who moved in last year, among others.”
UBCUK, a nationwide supplier of serviced office space, relocated its head office in January 2016, and launched a serviced office facility for small businesses which is now home to 24 businesses.
Its success is also largely attributed to vast improvement in regional infrastructure, combined with soaring costs of office space in Central London and Birmingham’s increasing popularity as a business and lifestyle location.
Data released by StartUp Britain in January 2017, run by the Centre for Entrepreneurs (CFE), found that Birmingham was once again the most entrepreneurial city outside London. Separately, Deloitte’s Crane Survey highlighted the high levels of development in the city, with business confidence underpinning the 1.45m sq ft of office that is currently under construction.
