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News Release

Birmingham

Jones Lang LaSalle transacts 57% of all 2010 Birmingham city centre office investment deals

Investment market sees bounce back to 2006 trading levels


Birmingham, 27th January 2011 – Jones Lang LaSalle’s National Investment team was involved in 57% of all office investment deals in Birmingham city centre in 2010, which equates to 40% market share of the total value transacted during the year.  In total, £421 million of city centre offices completed in Birmingham last year which was the highest volume seen since 2006.

Ed Gamble, head of Jones Lang LaSalle’s National Investment team in Birmingham, said: “Our share in the Birmingham investment market has been at similar levels for the last five years, and whilst our performance illustrates the continued strength of our team, more importantly it highlights the resilience of the Birmingham market which last year bounced back to trading levels last seen in 2006.”

Ed added: “Activity in UK commercial property markets is expected to continue to strengthen during 2011, though the recovery will be segmented by product type and geography, with prime property continuing to perform better than secondary. Whilst London will continue to stand out as the primary focus for investors, largely due to its continuing dominance as a global business and financial centre, as well as the liquidity and transparency of the market, this will make investor competition in the Capital incredibly fierce.”

 
Ed concluded: “We believe that many investors will therefore continue to seek prime assets in Birmingham and other core UK cities as pressure grows to invest and chase more yield.  Strengthening market fundamentals are expected to increase the number of active investors in Birmingham this year.  We have already started to see requirements from foreign investors along with continued interest from UK funds, therefore when the right opportunity comes onto the market, we expect bidding amongst investors will be highly competitive.”
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