'Time running out' to acquire Birmingham offices

Date: 09/06/2011

Businesses looking to buy 0800 numbers and establish a base in Birmingham may want to follow one expert's advice and act quickly.

In an article for Midlands Business News, commercial property consultant Lambert Smith Hampton explained there is a lack of new builds, while take-up rates are high.

This means that, although there are currently Grade A premises for let, this will have changed within three to four years.

Senior surveyor at the company Jon Hinton said many enterprises are looking at the four million sq ft of space on offer and incorrectly thinking this will be available for some time.

"The opposite is true," he stated, adding that "if the average yearly take-up of Grade A space continues at 200,000 to 250,000 sq ft, there will be a dearth of new space".

Mr Hinton also said demand for office space will rise if an Enterprise Zone is confirmed in the centre of Birmingham.

These are government-designated areas that will receive simplified planning rules and tax breaks due to their potential to benefit the wider economy.