The dominance of occupiers seeking bargain priced leasing deals could be coming to an end, said CB Richard Ellis. The firm’s Will Ventham makes this point because the decline in the amount of Grade A space available and the empty development pipeline means an improved market for landlords. To those who take a cynical view of prospects for large lettings Ventham said: “For three consecutive years Birmingham has secured one or more transactions in excess of 9,290 sq.metres and there is no reason that this trend should not continue into 2011.” Jonathan Fear said there are a number of large requirements in the market from Rare Games and Pinsent Mason, the lawyers, for example. His projection is for a similar level of activity to 2010 and is looking to 2012 and 2013 to bring a more positive approach by occupiers. CB Richard Ellis suggests ”that some larger professional firms reaching breaks or lease expiries are now more likely to take advantage of market conditions and acquire new space to better suit their business needs and minimize costs.”
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Wednesday, 23 March 2011
No more bargain?
The dominance of occupiers seeking bargain priced leasing deals could be coming to an end, said CB Richard Ellis. The firm’s Will Ventham makes this point because the decline in the amount of Grade A space available and the empty development pipeline means an improved market for landlords. To those who take a cynical view of prospects for large lettings Ventham said: “For three consecutive years Birmingham has secured one or more transactions in excess of 9,290 sq.metres and there is no reason that this trend should not continue into 2011.” Jonathan Fear said there are a number of large requirements in the market from Rare Games and Pinsent Mason, the lawyers, for example. His projection is for a similar level of activity to 2010 and is looking to 2012 and 2013 to bring a more positive approach by occupiers. CB Richard Ellis suggests ”that some larger professional firms reaching breaks or lease expiries are now more likely to take advantage of market conditions and acquire new space to better suit their business needs and minimize costs.”
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