Birmingham Net Stock Absorption Spring 2008

Published: February 2008
Source/Company: Colliers International

Abstract:
Executive Summary
• Net stock absorption of offices was 36,327 sq ft for H2 2007, correcting a run
of two years of negative results.
• Half year take-up in central Birmingham rose by 50% to reach 394,708 sq ft
in H2 2007. Total annual take-up for 2007was 657,645 sq ft, a rise of 11% year
on year and the highest level since 2002.
• The City Core saw positive absorption in 2007 of 27,069 sq ft, although the
figures for H2 2007 were even better at 141,784 sq ft (see figure 1).
• Overall availability fell by 6.9% half year on half year but is still 2.8% up on
the equivalent figure for 2006.
• Prime rents are at £32.50 psf and subject to occupier demand we would
anticipate that figure rising to £33 psf during 2008.
• 677,000 sq ft is scheduled to complete in 2008 with a potential 686,000 sq ft
anticipated for 2009. Grade A availability in the City Core fell by 28% in the
second half of 2007.

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