Take-up in the central Birmingham office market has fallen by almost one-third in the first quarter of 2014.
According to the latest figures from the Birmingham Office Market Forum, take-up in Q1 2014 totalled 102,353 sq ft across 28 deals. This compares with 150,000 sq ft in 31 deals secured in the last quarter of 2013 – reflecting a 31.7% drop.
The Q1 2014 figure is also down nearly 11% on the figure for the same period last year, which reflected 113,326 sq ft.
However, last year’s increase was mainly due to Deutsche Bank signing the largest deal of the year for 134,000 sq ft at Five Brindleyplace .
The largest office letting so far this year has been to law firm Weightmans, which has taken 14,682 sq ft at St Philips Point.
lisa.pilkington@estatesgazette.com
