George Jennings, GVA.
The Birmingham office market saw a record-breaking year in 2017, with GVA appointed on almost 60% of all transactions.
The figures from the Birmingham Office Market Forum (BOMF) showed a total of 1,005,072 sq ft of space was transacted across 130 deals throughout the course of the year, with GVA appointed as sole or joint agent on 59% of properties that made up this figure.
George Jennings, GVA, said: “This has been a truly phenomenal year and we’ve seen some exceptional deals completed to a variety of occupier types.
“These range from statement inward investment from the government at Arena Central, to the consolidation of offices and a number of smaller individual transactions.
“There remains a substantial level of activity in the market but the availability of high-quality Grade A stock continues to dwindle. While there is currently a robust pipeline, there is little to satisfy more immediate requirements.”
The Birmingham Office Market Forum compiles figures on office transactional activity within the city to provide a single overview of the state of the city’s commercial market.
GVA one of the country’s leading and most diverse real estate advisory services, working with both private businesses and the public sector on the whole real estate lifecycle.
With 11 offices in the UK, headquarters in London and 1,500 staff around the UK, the company generated £190m in revenue in the 2015 financial year and an annualised operating profit of £23.5 million.
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