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Birmingham : Offices - H2 2015

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Birmingham : Offices - H2 2015

Following the unprecedented take-up of H1, a total of 329,200 sq ft was let in the second half of 2015, 14% less than the 5-year average for the period. Despite this, total take-up for the year increased to 970,500 sq ft, a 36% increase when compared to 2014 and the highest amount of annual take-up on record.

The largest transaction of H2 2015 was to trade union UNITE with 56,000 sq ft of space taken at Birmingham Science Park. This was one of three lettings above 20,000 sq ft completed in H2, compared to five in the first half of the year. Aside from the UNITE deal, Advanced Computer Software Group agreed to lease 45,000 sq ft at The Mailbox, with The Brockton Capital and Milligan renovation of the building due to complete in Q1 2016. The other deal in excess of 20,000 sq ft was Somerville House Limited taking 20,100 sq ft at Hagley Road.

Source : Knight Frank

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Keywords : Knight Frank