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Birmingham office market back on track to hit pre-recession record rents

The Birmingham city centre office market recovered in the first quarter of 2017 back to normal Q1 levels, with headline rents on the best quality, new Grade ‘A’ office stock set to hit the pre-2008 recession high of €38.96 (£33) per sq ft, according to a West Midlands office agent. Nigel Tripp, Director at KWB, says that with office space transactions in the first quarter of 2017 totalling 139,000 sq ft, more than 30,000 sq ft over total transactions in each of the third and final quarters of 2016, the second half of 2016 is rapidly becoming a blip in the market rather than the beginning of a downward trend.He says: “The first quarter of 2017 was very much a par with that of 2015. It was Q1 2016 with its large lettings to PWC, Pin...[…]