The latest KWB research into the Birmingham and Solihull office markets shows KWB to have achieved the dominant share in the sales and lettings of offices in Solihull and the M42 corridor.
With lettings totalling 73,960 sq ft, KWB secured 70% of the 105,402 sq ft of office space that was transacted in Birmingham’s out-of-town office market in Q2. This 70% of square footage was over 8 transactions, 53% of the total number of 15 transactions for the quarter.
KWB’s Q2 2016 transactions for offices in Solihull
|Office property||Occupier||Office space (sq ft)|
|3180 Park Square||Canon UK||11,989|
|2460 Regents court||Lanes Plc||4,892|
|6240 Bishops Court||Mitie||3,894|
|2670 Kings Court||Sartorius||3,243|
Having achieved a similar share of the space transacted in Q1 – 73%, with 33,258 sq ft of a total 45,292 sq ft – KWB has secured a total of 107,218 sq ft in Birmingham’s out-of-town areas, a 71% share of the 150,694 sq ft in the first half of 2016.
In regards to letting numbers, KWB has conducted 18 of the 30 lettings that the market has seen in 2016 – a 60% share of all lettings in Solihull and the M42 corridor.
KWB Director, Mark Robinson, pictured right, commented: “We are very pleased with our market share in the key out-of-town areas of Birmingham this year. The market for offices in Solihull and the M42 corridor has been a very strong one for us, as an agency, in recent years. Occupiers and landlords recognise our extensive knowledge of this region of the Midlands, and of its office market, and that hard earned reputation helps us to consistently achieve this level of result.
“The great success experienced, and nurtured, at Birmingham Business Park is a prime example; Birmingham Business Park’s fortune has truly turned around in recent years, to now be at a vacancy level of just 10%.”
Q2 Office market research
KWB’s research, available on the links below, shows Q2 2016 to have been a prosperous quarter for Birmingham and Solihull’s office market. However, the noticeable drop in new enquiries – following Brexit – will start to be reflected in transaction figures in the quarters to come.
Highlights of Birmingham office market research
- Enquiry levels drop but effects not likely to appear until Q3, at the earliest
- Corporate office consolidations to continue to provide market with large lettings
- Expansions show Birmingham business doing well and growth in employment
- SMEs trading well but likely to be ‘quieter’ in the market
- Birmingham office market begins to see fresh large stock, as refurbishments complete
- Outlook for 2016 – a year of two halves
Highlights of M42 and Solihull office market research
- Biggest letting on Birmingham Business Park in nearly two years
- Birmingham Business Park takes dominant share (55%) of out-of-town office transactions
- Substantial letting expected for Q3 – hints at decent quarter ahead
- Low enquiries level may cause out-of-town office market to fall short of annual long term average
For more information, please contact Mark Robinson on 0121 212 5994 or email firstname.lastname@example.org.