Office take up in quarter four, 2024 in the central Birmingham office market totalled 137,188 sq ft in 27 deals, according to figures compiled by Birmingham Office Market Forum.
When added to the 69 deals totalling 706,030 sq ft recorded in the first three quarters of the year, the 2024 year-end total take up amounts to 843,218 sq ft in 96 deals.
This compares with:
702,993 sq ft in 109 deals for 2023
692,700 sq ft in 115 deals for 2022
656,735 sq ft in 94 deals for 2021
520,810 sq ft in 50 deals for 2020
780,095 sq ft in 116 deals for 2019
The 2024 total take up was the highest recorded since 2017, well before the impact of the pandemic seen in 2020 and beyond. It was encouraging to continue the upward trend of recovery seen in every year that has followed and also to breach the immediately preceding level of office take up.
Whilst the professional and financial service sector was relatively subdued, it is expected to feature more significantly in 2025. The outturn demonstrates continued resilience in the Birmingham office market, with a particularly strong performance from the education sector, the BBC committing to Digbeth and National Highways selecting their new regional office during the year.
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 the website:
www.birminghamofficemarket.co.uk
