The Birmingham Hippodrome was the venue for the 2015 annual JLL Midlands Property Predictions.
Jon Neale, Head of Research UK gave an economic overview followed by The Question Time chaired by Ian Cornock, Lead Director - Midlands Region.
Featuring a panel of experts from the Birmingham and Nottingham offices the experts responded to questions across a variety of topics.
Our predictions for the year ahead are detailed below.
Industrial & Logistics
Cameron MitchellDirector, Industrial & Logistics
"We will achieve rents over £6.25 per sq ft on a shed over 100k."
Jonathan CarmaltDirector, Office Agency
"Existing grade A office stock will largely run out this year. With a potential supply lag looming, we forecast that the West Midlands office market will see a pre-let of no less that 50,000 sq ft this year."
Peter LeaverDirector, Planning & Development
"A new tranche of strategic employment sites will emerge in the West Midlands, closely related to the conurbation, in 2015, with some securing consent."
Allan WilsonDirector, Capital Markets
"2015 will be another strong year but unlikely to see the transaction volume witnessed in 2014. Potential factors holding back transactions will be the election and the uncertainty beforehand and a likely shortage of stock generally available. We also anticipate that rental growth will play a more significant role in overall performance than in 2014."
Michael BroughDirector, Residential
"The Government housing target of 240,000 new homes will not be met. A new build city centre scheme will come out of the ground this year."
Tom EdsonDirector, Retail
"The 'Big 4' supermarkets will fight back against the discounters."
Mat SmithLead Director, Nottingham
"In the East Midlands occupier markets, it's all about quality, new build and good second-hand space will see rents move forward 5-7% this year."
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