Market Insight

No Brum deal for Birmingham as excitement abounds in property sector

December 1, 2016

For some time now, there has been a growing sense of excitement around Birmingham and its growing reputation as a destination city for big businesses.

Indeed, the UK’s second city has been on the up and up and announcements such as the expansion of the Birmingham enterprise zone, which will provide an additional £750 million investment, have boosted confidence in it as a destination for big business.

So much so that 2015 saw a record take-up and total take-up in the first half of 2016 reaching a massive 39% above its 10-year first-half average.

Indeed the first quarter of 2016 was the busiest ever first quarter, demonstrating better take up than any of the UK’s other regional cities.

And it’s got an awful lot going for it – a fantastic array of office space, excellent transport infrastructure links, and the refurbishment of its central railway station has totally transformed perceptions of the city when you arrive here.

For Birmingham, as the UK’s second city, perception is vitally important. It has, often unfairly, suffered a third-rate reputation as one of the UK’s most unattractive cities. But no more!

Following a series of significant investment and development projects, the city now boasts a wide variety of office accommodation and commercial property for sale or rent. From prestigious Grade A, through to more cost effective space available for immediate occupation, and a great deal more new and extensively refurbished available in the near future.

Not only is there more property available, but there is also a strong pipeline of future supply to meet with the city’s ever growing demand.

A whole host of big name companies such as Deutsche Bank, JLR, KPMG and HSBC are choosing not only to make the city their home, but to expand their presence here too.

It would seem that finally, supply is matching demand here and the city is really starting to reap the benefits as its improved retail and leisure offer also has a positive impact on recruitment.

The only potential fly in the ointment is Brexit.

As rumours abound over the banking sector leaving our shores, we wait with baited breath to see what happens and how this might affect the commercial property market in a city which plays host to many world-famous banking brands.

In the meantime, there is much opportunity for anyone seeking commercial property to rent in the city and our expert advisers are here to help.

For more information about commercial property to buy or rent in the area, don’t hesitate to contact one of our property agents.