Birmingham, Q2 2019
BIRMINGHAM ABERDEEN SHEFFIELD GLASGOW BRISTOL BIRMINGHAM OFFICEEDINBURGH CARDIFF MARKETNEWCASTLE MANCHESTER LEEDS OCCUPIER HEADLINES TAKE-UP* AVAILABILITY PRIME RENT • Leasing activity improved in Q2 2019 with (sq ft) (sq ft) (£ per sq ft) take-up reaching 320,595 sq ft, a 65% increase £34.50 £35.00 Q2 2019 320,469 Q2 2019 125,000 compared to last quarter. This is 74% above the 10 year quarterly average and is the highest level Q2 2019 vs 10 year Q2 2019 vs 10 year of take-up for Birmingham since Q4 2017. quarterly average 81% quarterly average -68% • The occupational market has been dominated by the arrival of WeWork who has leased 229,042 Q2 2019 Year end 2019 sq ft at three different office locations located 320,595 320,595 220,000 DEVELOPMENT PIPELINE in 55 Colmore Row, Louisa Ryland House and 220,000 277,790 (sq ft) 6 Brindleyplace. With the serviced office sector 277,790 791,000 190,000 growing, B2B accounted for 72% of take-up in Q2. 190,000 486,480 153,000 • Grade A supply continues to fall with 125,000 sq 153,000 194,014 194,014 ft being marketed across three buildings (No 1. 225,000 169,929 169,929 125,000 125,000 120,000 120,000 158,935 Colmore Square, Baskerville House and 1 Newhall 158,935 0 0 Street) at the end of Q2. This is 68% below the 10 Speculative 320,595 year quarterly average. Taking into consideration 320,595 Dates indicate the potential completion date 220,000 220,000 requirements, the market has only four months of of schemes under construction as at Q2 2019.
[Show full text]