Take-up levels across Birmingham reached 143,464 sq ft in Q1 ’26. Take up in the city centre remained in line with the 5 year average totalling 106,724 sq ft in 24 deals whilst the out of town market achieved only 36,470 sq ft in 6 transactions.
The largest deal of the quarter was to Eversheds Sutherland LLP acquiring 45,690 sq ft on the 3rd and 4th floors at Three Chamberlain Square. The Federated Hermes scheme has achieved the highest sustainability accreditations contributing in Eversheds setting a new headline rent in the city of £52 psf marking quarterly rental growth of 12% and annual growth of 20%.
Vacancy remained largely unchanged from last quarter at 11.4%, however this does represent an annual fall of 50bps. Constrained supply will continue to be a key feature of the market going forward with just 155,000 sq ft of space due to be delivered per annum over the next three years (2026-28), down on the average of 330,000 sq ft seen historically.