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JLL Property Predictions 2015: Midlands

​​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 Mitchell
Director, Industrial & Logistics

​"We will achieve rents over £6.25 per sq ft on a shed over 100k."

​Offices

Jonathan Carmalt
Director, 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."

​Planning

Peter Leaver
Director, 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."

​Capital Markets

Allan Wilson
Director, 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."

Residential

Michael Brough
Director, 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."

​​Retail

Tom Edson
Director, Retail

​"The 'Big 4' supermarkets will fight back against the discounters."

East Midlands

Mat Smith
Lead 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."​