Overseas investment acquired £288 million and accounted for 62 percent of the total investment last year. Birmingham city centre is facing a shortage of prime grade-A office space, following a record year in 2017 when more than one million sq ft of office space was taken up, according to research by Savills. The report said the number of new offices built fell from 1,109 last year, down from 2,106 in 2016, and that there were only 1,013 buildings with at least two floors above ground – up Savills added office investment last year in Birmingham reached £462m ($636m), while prime office yields remain at 4.75%.
Birmingham city centre is facing a shortage of prime grade-A office space, following a record year in 2017 when more than one million sq ft of office space was taken up, according to research by Savills. The report said the number of new offices built fell from 1,109 last year, down from 2,106 in 2016, and that there were only 1,013 buildings with at least two floors above ground – up Savills added office investment last year in Birmingham reached £462m ($636m), while prime office yields remain at 4.75%.