Office demand accelerates in Leeds

25th July 2017

Figures from the Leeds Office Agents’ Forum (LOAF) show a strong second quarter for 2017, including the largest office deal in over two years when Burberry acquired 46,058 sq ft at 6 Queen Street.

In total over the three month period 137,796 sq ft was taken up in the city centre in 39 transactions and 91,713 sq ft in the out-of-town market in 21 transactions.

Only one other city centre deal was above 10,000 sq ft, Baird Group’s freehold acquisition of the 10,681 sq ft Riverside House.

Dan Hodge, Ryden Office Agent, said: “The strong start for the Leeds office market reported in quarter one has accelerated further with transactional volumes 23% higher than this time last year.

Most pleasing to see is rents achieving £30 per sq ft in the city centre. This will hopefully assist developers and landlords as the larger occupiers have lease events due to occur later on in 2017 and 2018 as well as existing live requirements which will push rents further across the board.”

The Leeds Office Agents’ Forum was established in 2010. Its members alongside Ryden are BNP Paribas, Carter Towler, Carter Jonas, CBRE, Colliers International, Cushman & Wakefield, Eddisons, Fox Lloyd Jones, Bilfinger GVA, JLL, Knight Frank, Lambert Smith Hampton, Sanderson Weatherall, Savills and WSB.

Dan Hodge

Dan has 15 years agency experience and recently joined Ryden from Fox Lloyd Jones where he had a wide ranging property agent role. He heads the Agency team in Ryden's Leeds office.

His previous clients have included Yorkshire Post, Johnston Press, Ernst & Young, Stirling Investments and Town Centre Securities.

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