Take-up figures for Birmingham’s city centre office market have smashed 500,000 sq ft as a result of strong activity levels in the first half of this year.
According to the latest research by the Birmingham Office Market Forum (BOMF), Q2 2016 city centre take-up comprised 36 deals totalling 217,295 sq ft. When added to the Q1 2016 figure of 283,697 sq ft, take-up for the first half of this year totals 500,992 sq ft.
A spokesperson for BOMF said: “Given the uncertainties in the wider economy seen during the period, breaking half a million square feet of office take up represents a very strong first half to the year, continuing the record levels seen in 2015 and demonstrating the resilience in the Birmingham office occupational market.”
The figures were buoyed by several big deals, including Network Rail taking 83,406 sq ft at Hermes Real Estate Investment’s Baskerville House on Centenary Square and Syed & Co taking 26,102 sq ft at the Gooch Estate’s 76-80 Sherlock Street, while Energy Research Catapult has signed for 18,974 sq ft at Nurton Development’s Cannon House.
The Q1 2016 figures follow a record-breaking year in 2015, where a total of nearly 1m sq ft of take-up was recorded.
BOMF added: “With a number of comprehensive refurbishments also progressing, the remainder of the year continues to offer great promise.”
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