Birmingham office take-up hits record 1m sq ft
City centre office take-up totalled just under a record 1m sq ft in Birmingham during 2015.
According to the latest figures from the Birmingham Office Market Forum (BOMF), the 2015 year-end total take-up amounts to 970,458 sq ft across 132 deals. This reflects a 36% leap on the 2014 year-end total of 713,460 sq ft.
HSBC signed the largest deal in the city for years at the Arena Central development in 2015. The high street bank took the whole of the 210,000 sq ft Two Arena Central building for its new UK retail banking business HQ, which forms a key part of the first phase of development at the £400m Arena Central project.
City centre office take-up totalled just under a record 1m sq ft in Birmingham during 2015.
According to the latest figures from the Birmingham Office Market Forum (BOMF), the 2015 year-end total take-up amounts to 970,458 sq ft across 132 deals. This reflects a 36% leap on the 2014 year-end total of 713,460 sq ft.
HSBC signed the largest deal in the city for years at the Arena Central development in 2015. The high street bank took the whole of the 210,000 sq ft Two Arena Central building for its new UK retail banking business HQ, which forms a key part of the first phase of development at the £400m Arena Central project.
Meanwhile, office take up in Q4 2015 totalled 212,449 sq ft in 30 deals, with the two largest deals being signed by Advanced Computer Software at Brockton Capital’s Mailbox scheme in December and UNITE at Birmingham Science Park in October. The pair took 45,000 sq ft and 56,000 sq ft respectively.
Speaking on behalf of BOMF, Jonathan Carmalt of JLL, said: “The 2015 outcome represents a new record take-up level for the central Birmingham office market, eclipsing the previous high recorded in 2008 of 886,889 sq ft.”
Lisa.Pilkington@rbi.co.uk
Birmingham year end take-up figures:
713,460 sq ft in 148 deals, 2014
664,147 sq ft in 128 deals, 2013
500,955 sq ft in 133 deals, 2012
