Office take up in quarter four of 2018 in the central Birmingham office market totalled 277,790 sq ft in 33 deals, according to figures compiled by the Birmingham Office Market Forum.
When added to the 80 deals totalling 476,339 sq ft recorded in the first three quarters of the year, the 2018 year-end total take up amounts to 754,129 sq ft in 113 deals.
This compares with:
1,005,072 sq ft in 130 deals for 2017
692,729 sq ft in 139 deals for 2016
970,458 sq ft in 132 deals for 2015
713,460 sq ft in 148 deals for 2014
The 2018 outcome just exceeds the 10 year average take up in central Birmingham and demonstrates a strong finish to the year after a steady start.
Office enquiries remain encouraging moving into 2019 across a number of sectors. With scarcity of current grade A office supply, the delivery of the next generation of new build developments completing at Three Snowhill and Chamberlain Square, Paradise later this year will be well received.
(Please note: Totals reduced from those previously published by 1,008 sq ft, due to a double counted transaction in Q1 at Suite 6 The Cloisters).
For further information please contact Birmingham Office Market Forum Chairman, Jonathan Carmalt, Director, Office Agency, JLL on 0121 214 9935 or email [email protected]
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 their website