Larger businesses moving office to Birmingham better get in quick
Bigger corporations relocating to the popular Midlands business hub of Birmingham are advised to act fast
Companies who are considering an office relocation to Birmingham have been advised to be quick off the mark in order to secure high-demand office space in the Midlands’ city.
The rise in office leasing activity has gone up considerably and there has been a noticeable saturation in the commercial property market in terms of high-quality office space.
According to a report commissioned by a leading commercial real estate broker and property consultancy, supply levels are remaining healthy despite the rush for office space in Birmingham and businesses looking to move to new offices should be able to secure Grade A property if they act fast.
Spokesman Scott Rutherford commented on the research saying, “There is no disguising that overall supply levels remain high and so it is still a tenant friendly market.” He added, “Grade A space is however declining at a quicker rate than total supply levels, and there is a shortage of large floorplates emerging, which will gradually diminish the choice for occupiers.”
There has been considerable strangulation of office property availability for larger companies with only six buildings currently on the market in Birmingham that offer over 10,000 sq ft of space to prospective office movers. Impressively, office take up in the final quarter for Birmingham has increased by a staggering 258 per cent.
Rents for office space in the city are reported as being stable, so now is a prime time to move office to Birmingham and make the most of this vibrant city.
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