DEMAND for office space in Birmingham could exceed 800,000 sq ft per year over the next decade, a new report says.

Independent property consultants GVA have produced the Birmingham Future Office Demand report which examines the perceived requirement of occupiers and predicted take-up activity over the next ten years.

Expiring leases, economic growth, inward investment and mergers and acquisitions are some of the factors that GVA believes will lead to the surge in demand.

Charles Toogood, Director, GVA, said: “We are fully expecting city centre office demand to continue to grow, with a resurgent economy and increasing occupier confidence driving corporate demand. This is particularly true across Birmingham’s financial services, professional services and public sector occupiers, who will continue to drive demand for quality space.

“Coupled with the drive towards more sustainable and efficient buildings, and set against the backdrop of a maturing regional office market that has seen huge swathes of regeneration over the last full cycle, increased levels of take up will become a feature of Birmingham’s central office market.”

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