Activity across key regional capitals in 2022 was focused on occupier appetite for new Grade A product. All cities saw healthy levels of demand for new space and enjoyed significant uplift in headline rents. Average prime rents grew across Birmingham, Bristol, Leeds and Manchester in 2022, with all centres experiencing record rental levels.
This healthy demand has led to an annual fall in new Grade A vacancy across the majority of centres, with the appeal of future-proofed and employee-friendly accommodation only set to increase going forward.
Not only that, sustainable credentials are being closely scrutinised by potential occupiers, with the likelihood of a ‘green premium’ (in terms of pricing) for carbon net-zero space, especially given the current relative shortage of supply.
Find out more in our Q4 2022 UK Regional Offices Snapshot, which showcases sector trends for Birmingham, Bristol, Leeds and Manchester.