Property
Birmingham reaches top of office take-ups table
Birmingham recorded the highest take-up of commercial office space of any of the UK’s nine largest regional cities in the last three months of 2017 – almost doubling the five year quarterly average. The city centre saw 354,530 sq ft of space
transacted in the final quarter of 2017, an 83 per cent increase against the five year average for the same period of 193,694 sq ft. The activity included law firm PwC’s commitment to
pre-let the 58,680 sq ft balance of One Chamberlain Square, the first building at the Paradise redevelopment, following their initial commitment to 90,000 sq ft.
‘A strong reflection of the important role that the serviced office and co-working sectors are playing in the office market’
The largest deal of the quarter was to serviced offices
operator, Regus, which pre-let the full 76,000 Crossway, part of AG Dunedin’s Great Charles Street Estate. Charles Toogood, GVA, said: “The letting to Regus in particular is a strong reflection of the important role that the serviced office and co-working sectors are playing in the office market. Nationally, operators in these areas have secured in the region of 635,000 sq ft, 32% of which has been in Birmingham.
Revo Revo Compliance’s primary focus:
• Passive fire protection including fire doors and compartmentation.
• Electrical and fire system testing and supply.
• This includes periodic inspections, fire alarms, emergency light and portable appliance testing and fire extinguishers.
Without the worry and pressure of having to chase down contractors for quotes or to complete works, the client is free to focus on the core business.
National Delivery Capability, with a Strong Midlands Base.
For further details call Managing Director, Ken Passey on 07917 004939 or Email:
ken.passey@
revo.uk.com
Head Office: 2324 The Arches, Alma Road, Windsor, Berkshire SL4 1QZ Registered Office: Belmont Place, Belmont Road, Maidenhead, Berkshire SL6 6TB. T: 01753 829980 March 2018 CHAMBERLINK 67 “There remains limited immediate availability of
good quality stock, which has been reflected in the slight upwards movement of rents, with Net effective rents now averaging £26.40 per sq ft, up from £26.00 at the end of the third quarter of 2017. “Looking forward, large-scale developments like
Paradise, New Garden Square and Arena Central will continue to act as magnets for inward investment, while refurbishment of existing stock should be able to satisfy at least some requirements from businesses looking to relocate within the city.” Overall, 2017 represented a record-breaking year for
the Birmingham offices market, with transactions totalling over one million sq ft for the first time.
A good take-up: Charles Toogood
Sector Focus
Housebuilders tackle challenges
Housebuilders are investing in modern methods of construction and skills to address a number of industry challenges as it looks to deliver growth and new homes for the future, according to new research from Lloyds Bank Commercial Banking. The third annual Lloyds Bank housebuilding report, which surveys housebuilders and their supply chain, analyses the state of the industry today and the opportunities and challenges it faces in the future. An ongoing shortage of skilled
workers continues to affect the sector with more than a quarter (29 per cent) said they have trouble recruiting skilled workers in the regions where they operate. The report also found that the
UK’s exit from the EU was exacerbating the skills shortage, with half stating that it was making recruitment harder for specific roles. David Cleary, regional director
and national head of housebuilding at Lloyds Bank Commercial Banking, said: “The housebuilding industry remains upbeat despite issues such as Brexit uncertainty which is contributing to a skills shortage and inflating the cost of raw materials.”
Compliance Services
Revo Compliance Services focuses on delivering statutory testing to its clients; giving customers peace of mind that their responsibilities governed in law are satisfied.
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