Recent research by Jones Lang Wootton indicates that there has been an overall improvement in the regional office markets in Birmingham, Leeds and Manchester over the last 12 months.
In its annual property confidence survey of the three markets, JLW describes the future for net office demand in Birmingham and the West Midlands as “strongly positive”.
The exception is central Birmingham – due mainly to the relocation of transport and telecommunications occupiers to what the firm describes as “sub-market areas” away from the city centre.
Net demand in the Leeds region is positive, fuelled by finance and business service occupiers. However, over the next two years this trend is set to go into reverse.
The markets of Greater Manchester outside the city centre are the only ones in the north west to have shown a positive net demand over the last 12 months.
The report’s findings were based on interviews with senior executives in the regions’ largest companies, including the industrial and warehousing markets.
EGi News 16/12/96
