The Worcestershire office market is set to take off in 2012, following the largest office letting in the county for five years, according to a leading Worcestershire commercial property consultant.
John Dillon, managing director of Bromsgrove-based JP Dillon Commercial Property Consultants, says that the letting of more than 14,000 sq ft of office space at Avon House in Bromsgrove, secured by his agency, sets up the whole office market for a strong performance throughout the rest of the year.
Mr Dillon’s confidence is backed up by the fourth quarter of 2011 office lettings statistics for Worcestershire which show, that at more than 39,000 sq ft, the final quarter performance was the best of the year, with more than twice as much office space being let than in the previous three months.
Acting on behalf of Real Estate Investors, JP Dillon Commercial Property Consultants let 14,446 sq ft of office space at Avon House, Buntsford Gate Business Park, Bromsgrove, B60 4JE, to AFH Financial Group on a new 11 year lease. AFH Financial Group agreed to take the ground and first floors of Avon House, with first refusal to take a further floor in the future.
Paul Bassi, chief executive of Real Estate Investors, said: “I am delighted to have such a prestigious company as AFH Financial Group as tenants.”
“The Avon House deal comes on the back of further office deals we have already secured across the county, such as at Wildwood Triangle in Worcester, and at Topaz in Bromsgrove. The upward trend from Quarter Four of 2011 and those deals that we know are in the pipeline which will complete in the coming months, lead me to an optimistic view for the Worcestershire office market in the next 12 months,” explains Mr Dillon.
He continues: “Securing the largest office letting since 2007 will also be a boost for the local economy, and once again demonstrates that Bromsgrove and Worcestershire are regarded as key locations in the West Midlands for employers searching for a local, regional or national office base.
“However, knowledge of the local market conditions remains imperative to operate successfully for landlords,” concludes Mr Dillon.