LISTEN: Banking giant HSBC announced last month that it was taking 210,000 sq ft of office space at the planned Arena Central scheme in Birmingham.
The move was seen as a huge vote of confidence in the city, which has had substantial infrastructure investment and regeneration in recent years. But agents are divided about whether it signals the start of further large inward investment deals for the city.
Speaking at the Estate’s Gazette Birmingham reception, Philippa Pickavance of Philippa Pickavance Real Estate said: “I’m more cynical about this, having been in the business almost 30 years. You could still count on one hand the big footloose relocations we’ve had. We are always optimistic but I’m afraid I’m on the cynical side.”
Alex Tross of Lambert Smith Hampton, however, thinks times are changing. He said: “There was a time when those bigger investment deals were the anomaly as opposed to the norm but given the work we’ve seen in terms of infrastructure improvement and given how the city has now positioned itself on a national scale, I think we’ll see more.”
