It’s ‘business as usual’ for Birmingham in the office sector despite supposed political uncertainty, claims a city-based property expert.
Charles Warrack says while Brexit may have caused initial concern within some quarters, many companies are continuing to invest in office space in the city centre, to cater for expanding business operations.
The head of office agency at Johnson Fellows said: “The office sector has not remotely dampened as was first thought by some when the EU Referendum result was revealed. On the contrary, many offices within the city centre, and beyond, continue to be attractive for investors and occupiers with many companies looking to grow their presence in Birmingham and surrounding towns such as Solihull.
“It appears that Brexit has not deterred investors. In fact, many from overseas have pumped money into the area as they look to take advantage of the devalued pound.
“It’s clearly turned out to be a myth that Brexit was going to have a negative impact on Birmingham businesses, and the opinion in some quarters that there would be a long stall in business while the fall out of the decision continued, simply hasn’t rung true.
“That may have been the case for the first couple of weeks, granted, but that is the sum of it. It’s still very much business as usual.
“Birmingham is continuing to attract major occupiers. HSBC is just one of many examples of household names taking up occupancy in the city.”
The banking giant aims to move into its Arena Central premises next year.
Charles, who joined the Newhall Street based chartered surveyors three years ago, says that the HS2 train line makes the city an even more attractive prospect.
Royal Assent was recently given to the HS2 bill, with construction on the first phase linking London to Birmingham set to get underway in spring.
He said: “HS2 is a great boost for the city, and puts Birmingham on the map like never before. This will only encourage more business here.
“It is another attractive addition to investors that the city boasts, and with companies already continuing to take advantage of the top class office space available, I only expect even more interest to be generated thanks to this revolutionary train line.”
With the political landscape doing little to deter investors, and added benefits becoming more apparent, it seems the future is bright for the office sector.