Strong demand in Q1 in Yorkshire Office Market

12th May 2016

Demand was strong in Leeds’ office sector during Q1 2016, with the out-of-town market out-performing city centre for the first time since 2012, according to new statistics produced by the Leeds Office Agents Forum (LOAF).

A total of 141,174 sq ft was transacted out-of-town, which was 30% more than Q4 2015 and a 137% increase on Q1 2015. A big boost to the take-up was the 45,000 sq ft pre-let by Zenith Intelligent Vehicle Solutions at Kirkstall Forge.

“We’ve had a really good start to the year for out-of-town offices.” Comments Ryden Associate, Dan Hodge.

“While the obvious significant deal is Zenith taking 45,000 sq ft at CEG’s 180,000 sq ft Kirstall Forge, Brenntag’s 14,000 sqft deal at Lawnswood Business Park and Gorse Academy’s 16,000 sq ft deal at White Rose Office Park also boosted overall take up.”

In the City Centre, where 121,000 sq ft was transacted in 22 deals, the most significant were the 40,000 sq ft let to Sky Bet at 6 Wellington Place; 25,000 let to RSM at Central Square; and Dentsue’s 14,000 sq ft letting at 6 East Parade.

“A good foundation has been laid for 2016 and it is excellent to see that the Grade A accommodation continues to remain the focal point of the Leeds Office Market.”

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