In recent years Birmingham has undergone a dramatic transformation and grasped the chance to become a major commercial hub in the country by undertaking significant commercial developments in various sectors. It is considered a major property investment, placed before Edinburgh and London, and a home of the largest financial, business and professional services in the UK. With HSBC and HMRC setting up headquarters in Birmingham, it has continued to attract more investors each year.
Commercial property for sale in Birmingham
With an estimated growth of 13.5% since 2016, three times that of London, Birmingham is no doubt the highest performing city in the UK. Consequently, over the last decade, the number of serviced offices in demand is on the rise and has, therefore, become the ‘golden sector’ for investment. Businesses are looking for flexible workspace in Birmingham and investors need to grab this opportunity.
Also, there is an urgent need for entrepreneurs to establish commercial properties that accommodate the different working styles that are both formal and formal areas as a result of the ever-growing occupier space and amenity space. Furthermore, the commercial properties for sale in Birmingham and its occupants are also changing with time and therefore they have to capture these changes.
Office space: The flourishing buy-to-let market
Birmingham is experiencing an increase in its population which in turn has resulted in the creation of more jobs and better connectivity and as a result, higher demand for office spaces. More small companies are expanding and others are establishing themselves in this city. Furthermore, the central market in Birmingham has recently shown signs of growing rapidly.
The most available type of office spaces in Birmingham is private offices leaving an opportunity to invest in co-working offices. To find an ideal office, one requires the services of professional commercial property agencies such as Proplist who offer offices of different sizes depending on the business. The office layout can even be changed to fit a company’s specifics and requirement.
Companies in search of flexible spaces for smaller teams in Birmingham lead the pack in increasing the demand for commercial property. However, large corporate occupiers have joined in this race and are also competing with smaller firms for flexible spaces. Such a scenario creates a competitive market in which investors can cast their nets.
In addition, an increase in population and start-up business in the region is an indication that more rental properties will be required. So, apart from establishing office space to let the investors can also indulge in the commercial rentals.
Why Birmingham is the city to invest in commercial property
In Birmingham, firms are looking at ways to have agile means of working. It has led to the firm concept of flexible working space. Furthermore, the tech start-ups in the region have been on the increase. In 2017 the total number of start-ups was more than 145,000 launched businesses soaring further the number of flex space. For investors, Birmingham is among the top regions in the UK considered as a future for commercial property.
These factors show that there is an instant market for commercial property for sale in Birmingham such as offices with flexible working spaces and also rentals to accommodate the employees.