The Solihull and M42 office market enjoyed the best Q2 since 2019, according to recent KWB research.
Topping the tables
The largest letting of the quarter was to fleet management specialist Holman, which took 15,896 sq ft at 4020 Lakeside, Birmingham Business Park – to support its new seven-year contract with BT.
The second largest letting saw housebuilder Avant Homes relocate to a 6,938 sq ft of space at Wingfield Court, Coleshill. The move represents continued demand for traditional office space, with Avant previously holding space at Regus serviced offices.
Mobile asset and fleet management solutions provider, Mix Telematics, signed up for 1,874 sq ft at 6170 Knights Court, also on Birmingham Business Park.
Meeting the Grade A demand
Following a persistent lack of supply of large offices in the area, new space has come on stream.
A total of 228,000 sq ft of refurbished Grade A office space is currently on the market, across four properties:
- 70,000 sq ft at AIR in Solihull
- 61,000 sq ft at Portland House at the NEC / Birmingham Airport
- 60,000 sq ft at One Central Boulevard on Blythe Valley Business Park
- 37,000 sq ft at Blake House on Eagle Court Business Park
Even healthier future quarters are expected for the Solihull office market as more space becomes available.
Reflecting on the market
Malcolm Jones, Head of Office Agency at KWB, said: “It’s excellent to see nearly 230,000 sq ft of refurbished space come to market – and there’s more to come.
“We expect to see a strong response to these refurbished buildings, as well as those in the pipeline. This space provides much-needed choice for larger occupiers when looking to relocate and enhance their ESG credentials.
“However, there is now a lack of smaller offices below 3,500 sq ft, following a period of great activity. Landlords now have a real opportunity to refurbish and reposition their vacant buildings to deliver high quality office suites.”
Click here to read the full KWB Solihull and M42 office market research. For more details or to discuss your office space requirements, contact Malcolm Jones at email@example.com, or on 0121 233 2330.