3 Key Areas of Birmingham To Invest In Commercial Property
Investing in Birmingham
Shepherd Commercial – Birminghams’ leading commercial property consultancy – are here to discuss the three key areas of the city to invest in commercial real estate.
Over recent years, Birmingham has become perhaps the most in demand city for commercial real estate and general locality for businesses around the UK. Major moves from Goldman Sachs amongst others have only inspired more firms to flock to the second city.
We’re here to highlight the 3 areas where transactions have spiked and rents have risen as more and more organisations invest in Birmingham.
The Jewellery Quarter in the western side of the city centre has become an almost mini international hub for firms seeking city centre space with a townhouse feel.
Many of the industrial warehouses and factories have seen office conversion to plush open-plan contemporary designs.
Transactions are lower in Jewellery Quarter this year than previous as tenants stick to the area with an increase in rents to £14.4 per sqft
Perhaps the most obvious of the city centre developments, Digbeth has seen a rapid influx of investment as the area rises past its heavy industrial past to an artistic, stylish and very much 21st century culture hub.
From Bradford Court, to The Custard Factory and all the street art lined streets surrounding, if it’s not residential, it’s commercial office space to accommodate the areas rise in young professionals and upcoming media sector.
Digbeth has seen an average achieved rent of £12.3 per sqft this year, a steady rise as rental figures increase and industrial to office conversions take place.
Brindleyplace and Broad St
A less up and coming area, Brindleyplace and Broad St are serious established commercial property hotspots. The region doesn’t seem to falter and shows such resilience to economic and social factors which keeps the area adapting and versatile to its upcoming challenges.
Along the Gas Street Basin and the southern fringe of the Birmingham city centre, offices are hot property – quite literally. The area has seen the highest number of returning tenants in Birmingham post pandemic and has seen excellent developments such as the tramline generation down Broad Street.
This mini blog has primarily focused on office space within Birmingham and hasn’t mentioned the busy high streets – particularly retail activity – which are seeing record rents and high occupancy levels as many Birmingham neighborhoods are seeing significant investment.
Shepherd Commercial provide sales, letting and management services across Birmingham. If you require more advice, call us on 01564778890.