Currently, it seems there is no escaping from the media attention on Brexit and it is impossible to talk about the Midlands’ office market without once again focusing on the “B” word.
Birmingham – the largest commercial centre in the region and still leading the way in terms of occupier demand, investment volumes and emerging trends. The region as a whole is prospering and while it’s fantastic to see many of the region’s other towns and cities thrive, Birmingham has once again dominated the headlines.
The city delivered the largest single office investment transaction outside London this year, and the pace at which WeWork is taking space in Birmingham suggests that the landscape for the office market is about to go through a seismic shift.
It’s only a matter of time before the trends we’re seeing in Birmingham are repeated in cities such as Coventry, Nottingham, Leicester and the like. As such, there is an opportunity for developers and investors to grasp the nettle and make sure they’re well positioned to take advantage of these changes when they come.
Adam Ramshaw, Regional Director – Midlands and North, at LSH commented:
"The success of the region is not simply down to the quality of the office stock or investors moving out of London and the South East in search of perceived value. We are seeing unprecedented levels of investment across the entire region in infrastructure, housing, education, innovation and culture. This is making our towns and cities a genuinely compelling proposition to domestic and overseas businesses and I’m delighted to see our region taking advantage of this level of inward investment."
"I’m equally encouraged by the prospects for the region going forward. With Coventry named as the UK’s City of Culture for 2021 and Birmingham hosting the 2022 Commonwealth Games, the region has a rare opportunity to showcase everything it has to offer on a global stage; and this can only be good news for our ever evolving office sector."
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