B’Ham: UK’s #1 Commercial Property Hotspot
Such was the demand for serviced office space in Birmingham last year that, outside of London, the city has come out on top in the 2007 ranking of serviced office hotspots. Compiled by Officebroker.com, the company said it conjured up the results by analysing its own ‘extensive’ brokerage data on an annual basis to provide a timely snapshot of the country’s commercial property market.
While central London and towns along the M4 rat run obviously feature heavily in the Top 10 list, it is Birmingham which is stealing a march on rival towns and cities in the UK, when it comes to demand for serviced office space from the business community.
“Birmingham continues to thrive, both as a business environment but also as a great city to live in,” says Jim Venables, Managing Director of officebroker.com. “Demand for office space remains extremely strong. Indeed, in 2007 we saw a 41% increase in the number of enquiries for serviced office space in the city compared to the previous year and, outside of London, we brokered more deals for businesses seeking space in Birmingham than anywhere else in the UK.”
“The range of office space available in Birmingham is vast,” continues Jim. “From funky warehouse space to out of town business parks, contemporary city centre developments to period style office accommodation, this is a city that offers the business community an incredible amount of choice in terms of available space, therefore allowing it to meet the diverse needs of many different types of business.”
Another popular city which saw demand increase significantly in 2007 include Liverpool, the 2008 Capital of Culture, which saw revenue increase by 46% from 2006 to 2007. Additional hotspots cited include Warrington, a viable and popular alternative business location to Liverpool and Manchester and Cardiff, Cambridge and Leeds. Nottingham, Watford and Bristol also enjoyed significant interest and growth throughout 2007.
