Avison Young | UK Offices

Last week I had the pleasure of hosting the regional leaders of Avison Young's National Offices Team in Birmingham. It was great to share some very similar experiences about our respective office markets and to assess how we ensure best in class client service. An essential part of our meeting was a technical tour of Birmingham's best in class new build and refurbishment projects. On our tour we inspected: 3 Chamberlain Square: MEPC's 189,000 sq ft stunning new build which completes in May 2025 where EY are already committed to 4 floors. 19 Cornwall Street: Kier Property's 134,000 sq ft back to frame reimagining of an iconic HQ building which will be completed shortly. Multistory: V7 and Railpen's dynamic new destination building which provides the cities largest amount of amenity space, totaling some 15,000 sq ft. The key theme amongst these buildings was sustainability and occupier well-being. On behalf of the AY team could I thank the building owners and their agents CBRE, Cushman & Wakefield, (and Avison Young!) for their time to show us around. Birmingham has some excellent stock about to be delivered and I'm excited to see them all complete!

In Q4 2024, the Regional Big Nine take-up hit 2.2 million sq ft, aligning with the previous quarter and the 10-year average. The annual take-up for 2024 reached 7.9 million sq ft, up 10% from 2023, indicating positive occupier sentiment. Demand for top-tier space remains high, driving rental growth. Seven out of nine city centres saw rental increases, with an average prime rental growth of 6.6%. Office asset transactions totalled £490 million in Q4 2024, the highest since Q2 2022, bringing the annual volume to £1.3 billion, 21% higher than 2023. Read more in Big Nine ➡️ https://ow.ly/bExR50UYqn9 #offices #investment #realestate #bignine

Finally, an AY National Offices team get together in Manchester last week and don't we look good! #offices #officeagents

Excellent result for Avison Young in Liverpool this week!

For David T. M. Jones, Managing Director of our Business Rates team, the Labour government must be bold and commit to delivering a tax rate of 40p as the primary goal over the next five years. “Now is the perfect moment for Rachel Reeves to use the #AutumnBudget to drive change. We ask the government to be bold and finally decouple the Uniform Business Rate (UBR) and its associated supplements from inflation going forwards. Then, let’s push ahead with a 2026 rating revaluation to drive down the UBR to the level we forecast below 44p. By allowing shorter revaluations to determine the extent at which the tax can rise, we predict that we will have a base UBR at 40p by 2029”, said David Jones. David has written an opinion piece for City A.M discussing how Avison Young is endorsing Business Rates reduction and proposing a set of affordable and deliverable solutions that will simplify the relief system and reduce administrative burdens, while targeting relief effectively. Read the full piece here: https://lnkd.in/eYaYJkt9 #AvisonYoung #AvisonYoungUK #BusinessRates

We’re delighted that the proposed redevelopment of the Littlewoods Building, one of Liverpool's most iconic landmarks, has been unanimously approved by Liverpool City Council's Planning Committee today. The project, for which Avison Young has acted as the planning consultant, will be transformational for the Liverpool City Region, playing a key role in the continued growth of the creative and digital sectors, as well as acting as a catalyst for wider regeneration in the Edge Lane area of the city. The plans include the refurbishment and re-use of the former Littlewoods Building, alongside the construction of two sound stages, each over 20,000 sq ft in size, to create a film studio complex. The scheme also comprises office space, education facilities and leisure with food and drink floorspace. We’re looking forward to seeing this significant project come to life, as partners continue to collaborate to shape Liverpool’s future as the Hollywood of the North. #LittlewoodsBuilding #Liverpool Capital&Centric shedkm Planit

Oliver Collins is settling in well with the Offices Team.

How do the outdoor features at AIR, Solihull, help advance your workday?    Step outside and take your meetings to new heights on AIR's new panoramic rooftop terraces! Whether it's a creative idea-generating session, a casual team lunch, or a moment alone to rejuvenate with a breath of fresh air, the far-reaching views from AIR's terraces offer the inspiration and motivation needed to make progress. Embrace the outdoors and enhance your team's creativity and wellbeing in a space designed to ignite the imagination. Experience the difference a change of scenery can make in boosting productivity and mood.  Make the Grade A office space at AIR the new home for your business and discover a workspace that extends beyond four walls! To find out more, contact the agents:   Mark Robinson – mark.d.robinson@realestate.bnpparibas – 07342 069808   Adrian Griffith – adrian.griffith@avisonyoung.com – 07760 172918  Download the brochure here: https://lnkd.in/ext8a9Xm #Outdoormeetings #Rooftopterrace #Workplacewellness #Creativespace

📊 Q2 2024 regional office market update out now! 📊 Our latest report reveals that office take-up across the Big Nine cities reached 1.63 million sq ft in Q2, 16% below the 10-year average. However, there’s positive news on the rental front—Birmingham, Bristol, Leeds, Liverpool, and Manchester all saw increases in their prime rents this quarter, driving the Big Nine average prime rental growth to an impressive 7.77%. On the investment side, volumes dropped by 47% compared to Q1, totaling £172 million. Glasgow led the way, representing 40% of the Big Nine’s transaction volumes. Notably, prime yields held steady at 6.94%. Read the full report here: https://ow.ly/Jcz350T7k0s #RealEstate #OfficeMarket #PropertyInvestment #BigNine #MarketTrends