Companies moving office to Birmingham better get in quick
Move fast if you want to secure prime office space with an office move to Birmingham
If your company is looking for a new business hub in Birmingham then you might wish to get your office move underway soon as rents are rising say commercial property consultants.
Experts in the field of regional office space trends have found that Birmingham is an increasingly popular destination for companies moving office along with Manchester. In fact, the heart of the Midlands rated alongside Manchester as the best performing regional office markets in the country during 2010. Basing their figures on the reported ten year averages, the two cities both exceeded levels recorded for the average office space take-up across the decade.
But the Midlands city came top with an increase in investment noted for the region. Investment for all regions was up by an encouraging 21 per cent across the last year. Take up on prime office space for both Birmingham and London was up at a prime yield of 6 per cent. At the beginning of 2010 prime rents were at £27 per sq ft, but by the end of the year they had increased to £28.50 per sq ft. With prime office rents increasing in Birmingham it is advisable to plan your office move sooner rather than later so that you can take advantage of lower rents available at present.
Further research has found that the office market in Birmingham is seeing an increase in rents of 5 per cent on the previous year, so businesses looking to move office should act fast to secure a great Birmingham office.
If you’d like advise on your office relocation to Birmingham contact a local commercial property agent who is expert in the Birmingham office market.
