The major driving force behind this has been the Commonwealth Games, in preparation for which, Birmingham and its environs have undergone a complete transformation over the last five years.
The result? A second city that we can absolutely be proud of, and a commercial property market which has undoubtedly benefitted as result.
In the latest edition of our View West Midlands report, we review the commercial property landscape across the West Midlands in the first half of 2022.
In tandem with the delivery of public realm and infrastructure improvements in Birmingham, we’ve seen the delivery of some fantastic office space. But more is needed if we are to meet the demands of occupiers returning with a hybrid working strategy.
Meanwhile in the industrial, warehouse and logistics market, new, high-quality, energy efficient space simply cannot come to market quick enough, and we must see more development land come through to address the supply/demand dynamic.
Of course, the ever evolving economic situation, the prospect of a challenging winter and the potential impact this could have on businesses, together with rising rents and business costs, is something that we continue to monitor closely for clients.
But for now, let’s take a moment to enjoy the success of the Commonwealth Games which has so transformed the region – and will continue to do so – as its legacy plays out in economic, occupier and investment terms.
We hope you find this report useful and if you would like to discuss any of the issues within it, don’t hesitate to get in touch.