Over the next four years, occupiers in Birmingham city centre are set to have a large choice of high quality, Grade A office accommodation, according to a pipeline review conducted by commercial property consultancy, Sanderson Weatherall.
Between now and 2021, 2.8m sq ft of Grade A office space is programmed to become available in the city as a result of completing new developments, and refurbishment of existing accommodation.
The past ten year average take-up of office space in Birmingham city centre is 663,000 sq ft per annum, with a recognised shortage of Grade A space previously limiting the choice available to occupiers looking to move into the city.
Peter Fowles, head of Sanderson Weatherall Birmingham said, “Birmingham is currently undergoing a resurgence not witnessed since the 1960’s and 70’s. The city will soon have both the quantity and quality of available office space to attract even the most discerning national and international occupiers.
“The premium buildings are quoting rents of up to £35.00 per sq ft, but there is also space available at £26.00 per sq ft, making Birmingham city centre a competitive option for occupiers seeking quality offices.”