Birmingham, U.K., second quarter reports strongest office leasing level since 2015
Second quarter 2019 office take-up in central Birmingham, United Kingdom, saw an incredible increase of 65 percent on first quarter office leasing levels, totaling 320,595 square feet in 30 deals, according to Colliers International.
This quarter represents one of the strongest second quarter office leasing levels since second quarter 2015. As a result, first half 2019 demand saw 514,000 square feet leased in 55 deals.
WeWork leased a total of 229,042 square feet in three separate deals. Without WeWork, this quarter would have seen take-up levels at their lowest (91,553 square feet) since second quarter 2012.
Continued political and economic uncertainty will remain a factor in the city center office market; however, the latter half of the year should still produce strong levels of take-up with some substantial pre-let activity anticipated.