Design and build to take off in West Midlands, predicts JLL
Design and build solutions are set to be a major theme in the West Midlands property market in the coming year, Insider has been told.
Jones Lang LaSalle (JLL), which won Insider's Agency of the Year Award in 2011, said that the big shed market in the Midlands has "a high level of pent up demand".
However, with no speculative development to speak of underway in the region, occupiers are likely turn to design and build solutions.
"Uncertainty will continue to be the name of the game for the foreseeable future and this will have an impact on most aspects of the property market," said the agency.
It added that rents were likely to remain broadly unchanged.
"The performance of the office market in 2012 will not be dramatically different from 2011…that is steady but slow as long as the occupiers remain unsure as to how the economy is going to fare. Rents and incentives are likely to stay stable at or near 2011 levels although the market for secondary quality offices may do better in the second half of the year as supply continues to tighten due to the dearth of new developments," it added.
"All ‘bets’ may, of course, be off if the economic outlook takes a severe turn downwards."
