As swiftly as the regional recovery took hold it is running out of fuel.
Only Birmingham – buoyed by the number of deals signed rising by a third, rather than one trophy deal – and Bristol saw office take-up rise in Q1, while every other market slipped as the supply crunch reached critical levels, according to EGi Offices research.
Manchester, Glasgow and Edinburgh have just over two years of stock left at current take-up rates. Leeds and Bristol pushed up the average, with more than four years each.
HSBC’s deal in Birmingham will boost 2015’s total but will also take another proposed building out of the pipeline, with approval granted for 2 Arena Central last week.
