Office take up in quarter two, 2022 in the central Birmingham office market totalled 117,599 sq ft in 28 deals, according to figures compiled by Birmingham Office Market Forum.
When added to the 32 deals totalling 175,261 sq ft recorded in quarter one, the half year to date totals 292,860 sq ft in 60 deals.
This represents a steady first half of the year, with encouragement taken from the total number of deals completed, which represents the most seen in a H1 period over the last 5 years. Some of the transactions demonstrate occupiers rationalising their office space post pandemic into smaller suites, but of better quality. Despite the obvious headwinds in the wider economy, BOMF is aware of identified occupier demand which it expects will lead to some larger transaction activity to progress in H2.
Preceding H1 figures comprise:
2021; 253,336 sq ft, 44 deals
2020; 400,459 sq ft, 21 deals
2019; 514,579 sq ft, 55 deals
2018; 318,412 sq ft, 53 deals
Birmingham Office Market Forum was established in 2007 to present a co-ordinated voice to investors, developers and occupiers about Birmingham’s city centre office market. The Forum brings together the city’s leading office agents and Business Birmingham.
For a list of member firms or further information visit their website