As befits its central location in the UK, the Midlands continues to have a healthy industrial property market in which big sheds remain as popular as ever. The region is the essential location for major retailers seeking nodal distribution points with its network of motorways and rail links. The figures for logistics space underline this by being well ahead of other regions.
However, there is a problem on the horizon as the prime space is let and development fails to keep up with demand. This is not a new warning but has been broadcast by many in the property industry for some time and apparently fallen on deaf ears as far as politicians are concerned, otherwise we would not have had the empty rates changes. Do they realise the economy cannot grow without adequate supplies of industrial buildings? There will have to be a change of mood soon from politicians and developers.
Meanwhile the office outlook for Birmingham appears to be improving with brighter prospects for this year after a dull performance in 2012. For one thing there certainly appears to have been a rise in confidence about the future of business in the Midlands. It would appear that the publicity over the new economic growth zones is helping to raise the spirits of the business community.