Commercial property yields 'stabilise in Birmingham'

Commercial property yields in the Birmingham office market have stabilised in the past six months, according to a new study.

CB Richard Ellis's (CBRE's) new research has revealed that yields stood at seven per cent in the city over the first half of this year, as transactional volumes remained fairly low.

However, the completion of developments in the area means the availability of ready-to-occupy space in Birmingham now stands at 2.4 million sq ft.

Justin Marshall, CBRE's senior director in Birmingham, said a relative shortage of investment product has not dampened sentiment in the market.

He added: "A raft of new buyers including syndicates, overseas and high net worth individuals and funds with improved liquidity levels are now once again showing an appetite for reinvesting."

CBRE also recently confirmed it has acquired a distribution facility in Bootle on behalf of Liverpool Football Club.