Savills has jumped three places to number one in the Radius Data Exchange Birmingham office disposals league table, dislodging Avison Young, which dropped to fourth.
Aiding Savills in no small part was its involvement in the blockbuster letting at Three Snowhill at the start of this year, a deal which saw 283,073 sq ft taken by BT. Joint agent on this deal, JLL, moved into second place. Together with CBRE, JLL also acted on the second largest deal, a 15-year lease of 110,780 sq ft at Platform 21 to the Government Property Agency.
The Birmingham office market performed strongly despite the uncertainty created by the political climate in 2019. With the average deal size up 9% year-on-year, the 12 months to the end of April 2020 were dominated by a handful of large deals.
Three Snowhill and Platform 21 were joined in the top five deals by lettings to WeWork, which took 229,041 sq ft across three office deals in the city.
Radius figures mainly cover the period prior to the Covid-19 outbreak. All eyes now will be on how Birmingham’s office market reacts to a new set of challenges in the coming year.
