External of AIR Solihull which saw the largest deal in the KWB Q3 2024 Solihull office market research report

Solihull town centre re-establishes itself as a place to do business

Back to news list December 2024

Solihull office market has been bucking recent trends as occupiers are increasingly looking towards the town centre as a place to do business.

According to the latest review, four of the nine Q3 2024 Solihull office market deals transpired within Solihull town centre, marking the first quarter since Q3 2021 where there has been more than one town centre deal. In fact, it is the first time since Q4 2020 that there have been four such deals.

KWB Q3 2024 Solihull office market report shows that the most significant deal was BNP Paribas Personal Finance agreeing a 21,219 sq ft deal at AIR Solihull, located on Homer Road in the town centre — AIR Solihull triple height atrium

Compiled by property agents, KWB, the report shows that the most significant deal of Q3 was BNP Paribas Personal Finance agreeing a 21,219 sq ft deal at AIR Solihull, located on Homer Road in the town centre. This is the largest transaction of 2024 thus far.

Malcolm Jones, said: “Impressively, 60% of deals in the latest quarter took place in Solihull town centre, which is a stark uplift compared to recent years.
“The impact that AIR Solihull has had on these figures can’t be ignored. Having only been available for occupancy since the beginning of the year, the newly-refurbished building has already let 23% of the total take-up for the M42 and Solihull office market in Q1-3 2024.”

Other town centre deals were also notable in the Q3 2024 Solihull office market. Two deals took place at Radcliffe House, with Flutter taking 1,054 sq ft and Oracle occupying 2,957 sq ft. Majestic Wines, meanwhile, took 3,454 sq ft at 39 Dominion Court.

Two deals took place at Radcliffe House, with Flutter taking 1,054 sq ft and Oracle occupying 2,957 sq ft in the KWB Q3 2024 Solihull office market. — Reception at Radcliffe House

To date in 2024, town centre lettings represent 21% of the overall total take-up across the M42 corridor and Solihull for 2024 thus far. This is positive news for Solihull town centre, having contributed just 2% and 1% of the 2023 and 2022 take-up totals, respectively.

Malcolm continued: “Whilst these town centre figures are no doubt impressive, the M42 corridor continues to be the more popular choice for occupiers, representing 79% of the overall total take-up locally. We expect this to continue to be the overall trend in 2025.”