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Birmingham snapshot : Return to pre-letting - Q2 2014

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Occupier sentiment has improved in 2014. Enquiry volumes have been fairly constant, but are now typically of a better quality, which more often lead to actual viewings.

Improvements in output have not yet been associated with significant increases in office-based employment and actual deal volumes were down in H1 2014. A significant proportion of lettings were for grade B space, reflecting the lack of suitable grade A options and the more plentiful good quality refurbished grade B with more modest rents.

The majority of transactions involved local companies, principally involving occupiers from the financial and professional sectors with imminent lease events. Notably, legal firm Weightmans took 15,000 sq ft of grade B space at St Philips Point, Temple Row in H1.

Source : DTZ (Groupe UGL)

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Keywords : DTZ