Central Birmingham Office Market take up figures quarter 4, 2017
Office take up in quarter four, 2017 in the central Birmingham office market totalled 354,530 ft² in 49 deals as scheduled on this spread sheet.
When added to the 81 deals totalling 650,542 ft² recorded in the first three quarters of the year, the 2017 year-end total take up amounts to 1,005,072 ft² in 130 deals.
This compares with:
- 692,729 ft² in 139 deals for 2016
- 970,458 ft² in 132 deals for 2015
- 713,460 ft² in 148 deals for 2014
- 664,147 ft² in 128 deals for 2013
The 2017 outcome is a record take up year, beating the previous highseen in 2015. Office take up was boosted by the emergence of HS2 related demand together with the Government committing to the largest prelet seen in the city for a decade. In addition, key larger transactions were concluded in the Professional Services and the Serviced Office sectors. Breaking 1 million sq ft office take up for the first time is extremely positive for Birmingham during the current period of unprecedented development activity and further regeneration, visible across the BOMF area. It is also particularly encouraging bearing in mind the slow first half of the year following on from the dip seen in the previous year’s total.