Optimism is returning to the regional office market, with business demand having increased along the M42 corridor for the first quarter of 2014, according to Johnson Fellows.
The Birmingham-based property consultancy completed almost 10,000 sq ft of office space transactions between January and April, which accounted for 35% of all M42 office deals undertaken during the period.
The company’s acquisition of Salway Bradbury at the beginning of 2014 has already enabled it to benefit from an increasingly buoyant regional office market, with Edward Parkes and Ken Salway, who joined Johnson Fellows following the merger, continuing to build their market share in the region.
Although premises between 2,500 sq ft and 3,000 sq ft have been most in demand, said Edward, units of up to 30,000 sq ft have also been sought.
“With improving economic conditions and confidence making a slow but steady return to the office market in the region, the future now looks a little brighter for the sector,” said Edward, Partner in Johnson
Fellows’ agency department.
“I’m hopeful that the remainder of 2014 will see further occupier demand and take-up levels increase.”
His comments come as Johnson Fellows celebrates its latest success in letting an office at 51 Station Road, Solihull, to legal company The Firm.
Johnson Fellows acted on behalf of Solihull Metropolitan Borough Council to bring the conveyancing, family law and criminal law specialists to their newly fitted out office.
Mr Adam Carrolan, Partner at The Firm, said: “Our new office in Solihull enables us to provide a higher standard of facilities to our clients and staff in an excellent and convenient location. Being able to offer our clients parking outside our offices in the centre of Solihull is proving to be very popular.”
Johnson Fellows Chartered Surveyors was established in 1984. It encompasses several specialist departments and acts for a variety of clients including retailers, investors, developers, financiers and occupiers of commercial property. It specialises in providing professional advice, current market information, guidance through the constantly changing laws and statutes which govern the use of property and, above all, in providing a service which seeks to achieve the optimum commercial outcome for clients. Its team of dedicated surveyors advises many of the UK’s national multiple retailers on a nationwide basis.