Over the past few years Birmingham's office market has been a beacon of strength, with several blue-chip businesses either opening new bases or committing to renewed long-term deals within the city.
Since the beginning of 2017, over 2.8 million sq ft of space has been let in 375 different deals to occupiers including globally recognised organisations such as BT, PwC and WeWork.
Confidence in the market has surged on the back of the number of international businesses choosing Birmingham as a base for the future, the eagerly anticipated delivery of HS2 and the city’s bid to host the Commonwealth Games in 2022.
But to continue reinforcing Birmingham’s position as a UK stronghold for successful business, the city needs to ensure its infrastructure and residential development is equally impressive, and it’s extremely encouraging to see several high-quality residential schemes coming to fruition.
High-quality residential and office schemes benefit both markets, particularly in city centre locations. Occupiers looking to hire the best talent possible will need to showcase well designed and developed accommodation and a city centre lifestyle, while developers will have access to a ready mate market of professionals looking to indulge in a city centre living and the benefits that come with it.
Brindleyplace is in a fantastic position to offer this on its doorstep thanks to the continued regeneration of Birmingham’s Westside and Broad Street, which is now home to a multitude of new developments which will offer homes both for open market sale and for the private rented sector (PRS), giving Birmingham citizens an array of living options.
The Bank, which sits on Sheepcote Street directly opposite Brindleyplace, was completed earlier this year, and includes one of only two residential skyscrapers currently built in Birmingham. It has acted as the catalyst for further redevelopment along Broad Street, including The Mercian, Moda Living’s 42-storey PRS development, which features a UK-first – a 200m running track as part of its communal facilities.
Plans are also in place for the UK’s first habitable ‘super-slender’ structure at 211 Broad Street, which is to be developed by Taylor Grange Developments, and will measure just 9.5 metres wide once complete.
Encouragingly, Covid-19 doesn’t seem to be slowing developers’ interest in bringing developments earmarked for city centre sites forward. At the start of the month, Moda unveiled plans for a £258 million scheme which would bring more than 700 apartments to the nearby Jewellery Quarter.
With exciting developments springing up throughout the city, Birmingham’s residential offering is becoming more diverse and aspirational by the day. While this has obvious positive effects on the city itself, the area’s growing residential appeal is becoming a real string in the bow for businesses when it comes to the battle for top talent and Brindleyplace is situated right at the heart of it.
by Ben Thacker, Savills
