Farewell doldrums

Article Abstract:

Birmingham, England, saw office space take-up of around 45,521 sq mt in 1997, double the 1996 level. The buoyancy of the city's office property market is also reflected in the fact that rents have risen to 226 pounds sterling per sq mt. However, agents believe that the lack of a fully realized public transport system in the city centre is still restricting the growth of the office property market. If Birmingham does not get a rapid transport system, then developers may become unwilling to build in the city centre.

Design and construction, Office buildings

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Looking for a silver lining

Article Abstract:

Moves by Birmingham city council to charge cars a fee to enter the city centre will have a significant impact on the city's office property sector. Agents believe that this sector is already slowing down because of fears about restrictions on car use. There could be a increasing need to find alternative uses for secondary office accommodation as more companies seek non-central locations. However, the possible introduction of park-and-ride schemes could have a positive impact on office property demand.

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