During what has been a landmark year for the office sales and lettings in Birmingham city centre and its out-of-town markets, latest released year-end figures confirm that KWB transacted over half a million sq ft of office space, which includes a 20% market share of the office sales and lettings in Birmingham, Solihull and the M42 corridor. In terms of the number of transactions, their share equated to 31%, having secured 61 of the market’s 194 transactions.
KWB achieved 37 – or 28% – of the 132 office sales and lettings in Birmingham city centre in 2015, and 39% of the 62 transactions for offices in Solihull and the M42 corridor – having secured 24 of them.
KWB Director, Nigel Tripp (pictured right), said: “With the upturn in the office market, the high levels of inward investment and redevelopment in Birmingham city centre, we have been delighted to achieve these figures in 2015. It’s also been great to see the continuing appeal of out-of-town office locations, such as Birmingham Business Park.
“We have also brought the energy of 2015 right into the New Year, with the announcement of the Changan acquisition of 80,000 sq ft at Parkside Court, Birmingham Business Park (pictured right) which completed in December.”
Areas not included in the industry statistics of the Birmingham Office Market Forum include office space transactions in Wolverhampton, Kings Norton, Warwick and Tamworth – these areas account for around 100,000 sq ft of KWB’s 500,000+ sq ft total transactions secured in 2015.
The upcoming publication of KWB’s 2015 research will deliver a more in-depth assessment of trends and transactions – across the Birmingham and Solihull/M42 office market – last year. The quarterly and annual research, that KWB conducts, continues to provide an independent and invaluable insight into the region’s commercial property market, informing the property decisions of occupiers and investors alike.
To pre-request your copy of the research, please visit kwboffice.com/register-for-updates and complete the online form.
For more information on office sales and lettings in Birmingham and Solihull, please contact Nigel Tripp on 0121 212 5981 or email firstname.lastname@example.org.