Join CityClub Today to Receive:

  • Priority access to exclusive off market investments
  • Below market value pricing
  • Out of hours investor support chat
  • Allocated solicitor for hands free conveyancing

    Offices return to

    City Centre

    Birmingham is showing exceptional post-pandemic recovery, in particular, in its office take-up performance. According to data from the Birmingham Office Market Forum, total office take-up reached 242,901 square feet. This is the highest performance since the first quarter of 2020. Employment opportunities are growing in the city centre. The UK’s ‘Second City’ offers a well-connected, more affordable alternative to London.

    BT recently opened its regional hub in a staggering 283,000 square foot office space deal. In the heart of Birmingham’s business district, the 17-storey development will accommodate over 3,500 staff. Despite many of us working from home over the last year, there is an emphasis on a hybrid working approach. Thus, BT is encouraging “smart working” where teams will choose where they wish to work from. Many firms are following in these footsteps. There is believed to be a future in office working, despite many believing it is a thing of the past. Particularly in city-centre office space, hybrid working will be essential in office uptake.

    Improved Transport Links

    Transport links in Birmingham will also support this high office uptake. In an effort to tackle congestion and pollution, the city is undergoing a transformation that will improve connectivity. The city will be split into seven key “cells”: the city centre core, Jewellery Quarter, Knowledge Quarter, Eastside, Southside, Westside, and Convention Centre. To travel between these areas, motorists will have to use a ring road. This shift in infrastructure is to encourage people to use other modes of transport. This includes a push for pedestrian access, revamped cycle lanes, and Voi e-scooters.

    A Magnet for Young Professionals

    Recently, Birmingham ranked as the eighth-best city for work-life balance in the UK. The city also scored highly in attracting a growing number of young professionals. This comes as no surprise. A study by Shawbrook Bank showed that on average, employees spent 32.7 hours a week working. This is 1.1 hours below the national average and the third-lowest in the country. Not only this, but commuting times are also favourably low at just 28.85 minutes. This will reduce even further with infrastructure regeneration coming to fruition.

    Therefore, Birmingham is without a doubt a fantastic place to live and work. Compared to its southern equivalents, house prices in the second city are affordable. This is a crucial factor to consider for first-time buyers and tenants looking for a place to live. Alongside the ongoing regeneration projects and businesses moving to the area, the city is a magnet for young professionals. Young professionals play a crucial role in strengthening the economy as they are more likely to utilise city centre amenities.

    Commonwealth Games

    2022

    The Commonwealth Games will be a huge catalyst for post-pandemic recovery in Birmingham. The event will create up to 30,000 jobs for the city, as well as volunteer roles. Public investment totalling £700m is being spread across the entire city. From the renovation of Alexander Stadium to the construction of 5,000 new houses. A large proportion of the investment is being spent on the cultural sector. The cultural sector was hit the hardest when strict social distancing measures were in place. Therefore, this investment will play a huge part in the speed of post-pandemic recovery in Birmingham.

    Birmingham Commonwealth Games 2022_ Birmingham City Council

    CityRise

    Verdict

    Birmingham’s recovery post-pandemic has been one to marvel at. Many city centres are struggling to rebuild. Anyone who has recently walked through Canary Wharf or The West End in London will be aware of how sparse it has become. The lack of activity forced many retailers and coffee shops to close their doors. Once, these areas were bustling with professionals. Now, these same professionals have opted to work from home or flee the capital in search of more space. Thankfully for Birmingham, the city remains the top destination to absorb any London leavers.

    Compared to many other UK cities, Birmingham is showing promising signs of returning to post-pandemic levels of activity in the city centre. Particularly with the 2022 Commonwealth Games just around the corner, The speed of post-pandemic recovery in Birmingham makes it a fantastic option for property investors to take advantage of.

    Follow us on Instagram for daily property market updates. 

    Related Articles

    • Birmingham’s Big City Plan: Update

      Birmingham’s Big City Plan: Update

      Birmingham, recently named the UK’s first Compassionate City, is successfully progressing through the Big City Plan regeneration project.  ...

      Learn more
    • Overseas Investors Flock to UK Property Hotspots

      Overseas Investors Flock to UK Property Hotspots

      Despite the troublesome year we have had, overseas investors are continuing to flock to the UK to take advantage of the property investment...

      Learn more
    • Birmingham Big City Plan: What to Expect in 2022

      Birmingham Big City Plan: What to Expect in 2022

      Since the Big City Plan began in 2010, Birmingham has changed dramatically. From a war-torn, concrete jungle, the city is now unrecognisable. The...

      Learn more
    • Top UK Emerging Regeneration Projects 2022

      Top UK Emerging Regeneration Projects 2022

      For investors choosing the location of their next property investment, regeneration projects are often a clear indicator that a city is worth...

      Learn more

    Explore our Investment Guides

    Take a look
    Explore our Investment Guides