Knight Frank suggested that a diminution in availability is likely to drive up rents. The organisation has also commented that the national economic recovery has led to increasing demand for office space, as confidence has gradually returned since the recession finished.
Nevertheless, Knight Frank argued that the performance of the office markets in Manchester and Newcastle is likely to be similar to the Birmingham market going forward. This may mean that the local sector needs to allocate substantial funding to advertise what it has to offer. Using a Print company in south Birmingham is an option for firms seeking tenants.
Louisa Rickard, a commercial researcher for Knight Frank, commented:
“As economic growth spreads to the regions we expect to see prime office rents rise across regional city centres in 2015. Lack of supply at the prime end of the market will add further upward pressure on both prime and secondary rental growth.”
Ashley Hudson, who works in Birmingham for the same consultancy, has said that future developments in the city could attract significant pre-let enthusiasm. He has specifically mentioned a project in Colmore Row, stressing that the building will allow companies to trade from a central location.Get a Free Quote for Print