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Market Update

Birmingham Offices - 1Q 2013

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Birmingham Offices - 1Q 2013

Take-up in Birmingham city centre amounted to 113,326 sq ft in Q1. Although this was c.40% down on each of the previous two quarters, it was 108% higher than the Q1 2012 total.

Q1 take-up comprised 26 deals, six of which involved Grade A space.

The biggest deal in Q1 saw Marsh acquire 11,000 sq ft at Carlyle's Colmore Plaza. The insurance broker also paid the highest headline rent of any deal
in Q1, at £27.50 per sq ft.

Q1 also saw Amber Real Estate purchase 1 Colmore Row for £10m. The buyer is set to take two floors for its own occupation, leaving one floor available to lease in the building.

Source : Knight Frank

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