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Midlands office occupancy costs stable in first half of 2012

Midlands office occupancy costs stable in first half of 2012

Office occupancy costs across the West Midlands have remained stable in the first half of 2012, according to new research.

A report by international property adviser BNP Paribas Real Estate, which focused on rents, rates and service charges for Grade A offices across the region said headline rents remained stable with occupational costs in Birmingham city centre around £42 per sq ft, in Solihull around £32 per sq ft, and in Coventry around £27 per sq ft.

Carole Taylor, head of office agency at BNP Paribas Real Estate’s Birmingham office, said: “Headline occupancy rates have remained fairly stable across the region, but occupiers are still able to secure good incentive packages within Grade A offices although these incentives will start to change as the amount of available Grade A space reduces.

“Looking forward, new enquiries are likely to be slow during the summer months. However, as we draw closer to the end of the year we expect activity to pick up again slowly.”


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