Q1 2016 was a triumphant period in the Birmingham office market, as take up successfully smashed the previous best in the last decade.
Major deals during this period which attributed to its success were 1 Chamberlain Square in the Paradise development, Pinsent Mason’s planned relocation to 55 Colmore Row and DAC Beachcroft’s decision to move into 40,000 sq ft at Tricom House.
Within the first three months, research from the Birmingham Office Market Forum (BOMF) revealed there was a total of 283,697 sq ft of take-up, compared to 2015’s 123,760 sq ft.
The firm said in a statement: “The Q1, 2016 take up figures represent the highest ever recorded by BOMF in the first quarter take up for the central Birmingham office market.
“This represents a very strong start to 2016, and is most encouraging following on from the record year of 2015 when nearly 1m sq ft was in recorded in total. “
The last first quarter high was in 2010, with 183,348 sq ft of take up.
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