Office take up in quarter two, 2020 in the central Birmingham office market totalled 61,474 sq ft in 5 deals, according to figures compiled by Birmingham Office Market Forum.
When added to the 16 deals totalling 338,985 sq ft recorded in quarter one, the half year to date totals 400,459 sq ft in 21 deals.
The entire office market was effectively stopped by the pandemic lockdown throughout the quarter, with offices closed, viewings prevented and transactions impossible to progress. Most of the active requirements that existed coming into the quarter went on hold, albeit with many of the occupiers stating their intentions to still proceed in some form after the return to a more normal environment. The early signs post the easing of lockdown are positive inasmuch that such occupiers are now largely actively reconsidering their requirements, with a view to resuming acquisitions as the year progresses.
Birmingham Office Market Forum was established in 2007 to present a co-ordinated voice to investors, developers and occupiers about Birmingham’s city centre office market. The Forum brings together the city’s leading office agents and Business Birmingham.
For a list of member firms or further information visit their website
