Pictured above: David Binks

There is mounting evidence that Britain's big corporates are setting out to 'spring clean' their property portfolios, as they gear up for an upturn in the economy.

David Binks, of the Birmingham office of property consultants Cushman & Wakefield, says that the firm has been handling an increasing number of requests from corporates to help rationalise their property holdings.

"With better trading conditions, we are seeing a strong desire by corporates to rationalise and save costs," he said. "They want to dispose of surplus space and they are also seeking new and more efficient buildings.

"It's an opportunity for these organisations to do what they may have had to put off three years ago when the recession hit.

"They want to make themselves leaner and fitter. It's a spring clean, getting ready for the new era - and with better trading conditions, they can afford to do it."

He said Cushman & Wakefield had been approached only recently by two large corporates with a request to review their property portfolios, with a view to reducing their outgoings and upgrading their buildings. 

Mr Binks added that the manufacturing sector was leading the way in showing signs of growing demand for property, particularly companies in the automotive and aviation industries. 

He said that these sectors were actively seeking new, more efficient space, as they considered the impact on their bottom line in terms of cost and operational savings that more modern buildings would bring.

He added that he expected this trend to continue, particularly once the new Local Enterprise Partnerships and Black Country and Birmingham/Solihull enterprise zones had got fully into their stride.