Birmingham is on the cusps of reinvention in regard to its industrial growth. It was once an engineering centre, but over the last decade it has diversified its economy and turned it into a service-based one in sectors such as health, finance and insurance, defence, education, administration, public and social work activities among many other areas. The city is the powerhouse driving the West Midlands and has the potential to generate ‘an agglomeration effect’ to continue its industrial productivity. Industrial growth cannot occur on its own, and therefore the need for infrastructures, primarily industrial units, for sale and to let.
Industrial units for sale in Birmingham
Being the second city in UK, Birmingham industrial estates have the advantage of having a large marketplace right at their doorstep. For industrial unit owners, they have the benefit of having their property being situated in a big city within the ‘Golden Triangle’. That is they are easily accessible by 80% of the total Britain population. Such a location is ideal making Birmingham be a major distribution and manufacturing hub for the country. Furthermore, the local government is supportive of the industrial estates for sale and rentals through the Birmingham property services. See industrial units for sale in Birmingham by checking out www.proplist.com.
Industrial units increasing demand
Owning an industrial space in Birmingham in recent times is an added advantage. The increasing occupier space demands and the planned expansion of infrastructure have led to an increase in demand for more industrial space and also a rise in the industrial rent which is a win situation to property owners.
One such project that is causing an increase in industrial rents in Birmingham is the construction of the HS2 rail line. The projects demands for extra land have increased the rents by 20% to 25%. There are many acres of land that have been taken by the project over the past five years, therefore, increasing the demand for industrial space. This loss means that more investors can step in and minimize the industrial unit shortages especially in area s such as North Birmingham.
With such shortages of industrial units, it becomes a challenge for industrial sectors to find the space that fits their specific needs and an ideal location for their business. Commercial property hub such as www.proplist.com assist companies to get the best industrial units and a good location in Birmingham.
Reasons to own an industrial unit in Birmingham
One of the strengths of Birmingham city that has led to its transformation and recent development in industrial sectors such as the automotive industry is the invigorated government structure. Strategic planning involving housing infrastructure and commercial space have the opportunity for expansion because of the various zones and boroughs covered by the West Midlands Combined Authority (WMCA) and its huge funding.
Also, relocation of the HSBC headquarters from London to Birmingham means that 1000 jobs will be made available in Birmingham, which is actually the main aim of the bank. Apart from HSBC, Birmingham is also getting more Foreign Direct Investment (FDI), it has the best leading export performance since 2015 and is the currently fastest growing city in the UK.
The Birmingham city boundaries are expanding each year meaning that the commercial occupier demand is also increasing. More companies are finding their way in Birmingham and consequently more industrial space is needed. This is a wake up call and a high time for developers and investors to look beyond and start owning and developing more industrial properties for sale in Birmingham.