Much activity is centred around key regional city centres, specifically Birmingham in the West Midlands and spread across Nottingham, Leicester, Derby and Northampton in the East Midlands. Birmingham is one of the UK's 'Big 9' cities, a major economic centre strategically positioned at the heart of the UK's road and rail network.
After five years of extremely tough economic conditions with corresponding effect upon the commercial property markets, certain occupational sectors are re-awakening in the region, particularly advanced manufacturing, distribution and fulfilment. Volume activity has returned to the investment market with yields for prime stock moving sharply downwards over a short period of time with value/opportunity investors again beginning to look at secondary stock. Good residential sites for sale are back in high demand achieving pre-recession values in some locations.
Improved economic data is starting to filter into occupiers business plans with positive impact in the regional office markets. The lack of any speculative development during the last five years is now beginning to reduce Grade A supply towards a tipping point, where demand is highly likely to exceed supply within the next two years or at the very least before the next development cycle begins to deliver the next generation of Grade A stock.
For advice on any aspect of commercial properties for sale or to let in Birmingham, the West Midlands or East Midlands, please do not hesitate to contact an appropriate GVA Expert via Regional Senior Director Ian Stringer, 0121 609 8308, firstname.lastname@example.org.
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