UK institutions have been the most prominent investors in the Birmingham office market, accounting for over 58 per cent of the value of transactions in 2015, according to new research.
The latest Who Owns Central Birmingham report, which is published by consultancy Bilfinger GVA and is now in its fifth year, provides an insight into the profile of the city's commercial property ownership.
The city once again saw high levels of activity during 2015, with some £992 million transacted across both the office and retail sectors, up from £645 million in 2014.
While overall ownership from UK-based organisations fell by one per cent over the last 12 months to 70 per cent, ownership from local Birmingham-based occupiers has seen a significant rise, up from one per cent in 2014 to nine per cent, according to the report.
As in previous years, overseas investment activity has remained strong - with the amount of overall foreign ownership increasing from 29 per cent to 31 per cent.
The report said there was considerable movement, with Middle Eastern and mixed UK and overseas investors increasing holdings from two per cent to five per cent and eight per cent and 12 per cent respectively.
Far Eastern investor interest remained flat at one per cent of total stock while ownership by European investors increased by six per cent to seven per cent, with the majority of European investment coming from German funds, who are now holding 935,000 sq ft of space.
This includes the £130 million acquisition by German fund VGV of RBS' Brindleyplace headquarters and GLL Real Estate's circa £37 million purchase of One Brindleyplace.
Ian Stringer, regional senior director, said: "Birmingham remains an attractive proposition for both domestic and foreign investors, particularly with ongoing capital investment projects such as the extension to the Midland Metro and the recently completed redevelopment of New Street Station and the Grand Central shopping centre.
"Looking ahead, 2016 has the capacity to provide a number of exciting opportunities within the city, underpinned by the recent acquisition of 50 per cent of Hermes Investment Management's stake in the Paradise redevelopment to CPPIB."