Birmingham office occupation 'on the rise'

Office design news from Morgan Lovell

Published on 21-09-2010

A fall in the availability of grade A office space in Birmingham has been reported for the first time in three years, new figures have shown.

Research carried out by Colliers International revealed a 15 per cent decline in availability from Q4 2009 during the second quarter of 2010, pointing to a strengthening of the office interior market in the city as fewer developments are now advertising available stock.

"There is no doubt that across the range of market data, the news is far more positive than at any time since we began analysing the Birmingham market," commented head of Colliers International David Smeeton.

He added that a shortage of new space coming to the market, coupled with strong demand, is helping to strengthen office absorption.

However, Timothy Lambert, head of consulting at private wealth management firm Ducalian, recently claimed that many UK firms are still looking to take advantage of the impact of the economic downturn and are hoping to achieve competitive deals on office premises as a result.

Posted by Ian Johnson