Leeds office take-up rises in Q1 of 2017

Published on: 26th April 2017

Leeds offices market update Q1 2017-page-001

View our Leeds Offices Market Update for Q1 2017.

The Leeds office market take-up in Q1 stood at 160,679 sq ft which reflected a 22,055 sq ft increase on the preceding quarter.

In Leeds city centre, take-up totalled 104,936 sq ft, across 22 transactions. There were two significant lettings over 20,000 sq ft with the largest city centre transaction being the letting of 25,985 sq ft at 5 Wellington Place to Willis Towers Watson. The other letting of note being BW Legal’s acquisition of 1 Apex View for their sole occupation.

In the out of town market, take up reached 55,743 sq ft across 20 separate transactions compared with just 28,942 sq ft in 21 deals during Q4 last year. The two principal transactions were the 10,200 sq ft letting to Bellway Homes at 2150 Century Way, Thorpe Park and the freehold acquisition by Clayton Holmes Naisbitt of 1 John Charles Way.

Head of office agency at our Leeds office, Richard Dunn, said, “There was a steady start to 2017 as inward investment related requirements, in particular, continue to appear to be affected by lingering Brexit-related uncertainty.There are however signs that the Leeds market will weather some of this inertia, with some significant, and as-yet-unsatisfied, requirements due to sign later this year.

“In terms of supply, occupiers continue to have a broad-spectrum of choice in terms of Grade A and refurbished office space, but I believe there is a relative lack of good quality, genuinely characterful space with occupational flexibility.”

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Why use a property professional to advise on your office move?

Moving office can be a challenging and complex process. From pulling together your relocation plan, to finding the right property and negotiating your lease, there are many elements to an office move that you will need to get expert advice on. Appointing the right property advisor will help you save time and money on your office move, and allow you to stay focused on running your business. 

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Moving office can be a challenging and complex process. From pulling together your relocation plan, to finding the right property and negotiating your lease, there are many elements to an office move that you will need to get expert advice on.

Appointing the right property advisor will help you save time and money on your office move, and allow you to stay focused on running your business. 

[fulltext] =>

Our local relocation teams are made up of experienced office agents, lease consultants, architects and building surveyors. Operating in the UKs major cities, they apply their local market knowledge to help you find the right space for your business, negotiate preferential terms, and unlock off market opportunities that you may have otherwise missed.

We can add real value to your new acquisition and minimise your costs in future years by certifying floor areas, advising on principal lease terms, such as alienation (creating flexibility should you need to move or sublet), rent review clauses and dilapidations.

Our RIBA certified architects and building consultants can advise on your fit-out and space planning, ensuring you acquire an appropriate sized office that works for your business. We’ll also help you design a space that inspires your employees, and advise on how modern ways of working can help you to reduce your overheads.

Once you’ve settled into your new office, we can then introduce you to our occupier team, who will help you keep your occupational costs to a minimum, including business rates, and provide on-going tenant consultancy whenever you need it.

Click here to read our seven step guide on how to make your office move a success.

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/news/22-blog/1132-why-use-a-property-professional-to-advise-on-your-office-move?layout=default&breadcrumb=noimage

Office Agency

Our office agency team provide advice and expertise on the sale, acquisition, marketing, development and leasing of office properties and developments across the country. Utilising in-depth experience of the UK office sector coupled with extensive knowledge of the local and regional marketplaces in which we operate, each team possesses unrivalled skills to work to your significant advantage. Our specialist knowledge ranges from individual office suites to out of town business parks and new-build city centre developments.The specialism is supported by a broad range of additional services within the business. Agency Disposals: Realistic marketing advice and methodology Comprehensive market knowledge and full research facilities Extensive enquiry database Innovative marketing ideas Appraisal of alternative uses with in-house town planning advice Agency Acquisitions: Obtaining a clear understanding of our client’s requirements and commercial objectives Comprehensive property stock search and identification of development opportunities Objective advice on the suitability of identified properties Negotiation of favourable terms Full back up service including structural surveys, planning advice and fitting out etc. Valuation and finance advice Development Consultancy: Thorough market research Advice on selection and appointment of consultants Undertaking of full financial appraisals and timescales Advice on optimum composition of development Assessment of deliverability Advice on specification and scheme layout End user knowledge   Contact Us

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Our office agency team provide advice and expertise on the sale, acquisition, marketing, development and leasing of office properties and developments across the country.

Utilising in-depth experience of the UK office sector coupled with extensive knowledge of the local and regional marketplaces in which we operate, each team possesses unrivalled skills to work to your significant advantage.

Our specialist knowledge ranges from individual office suites to out of town business parks and new-build city centre developments.The specialism is supported by a broad range of additional services within the business.

Agency Disposals:

  • Realistic marketing advice and methodology
  • Comprehensive market knowledge and full research facilities
  • Extensive enquiry database
  • Innovative marketing ideas
  • Appraisal of alternative uses with in-house town planning advice

Agency Acquisitions:

  • Obtaining a clear understanding of our client’s requirements and commercial objectives
  • Comprehensive property stock search and identification of development opportunities
  • Objective advice on the suitability of identified properties
  • Negotiation of favourable terms
  • Full back up service including structural surveys, planning advice and fitting out etc.
  • Valuation and finance advice

Development Consultancy:

  • Thorough market research
  • Advice on selection and appointment of consultants
  • Undertaking of full financial appraisals and timescales
  • Advice on optimum composition of development
  • Assessment of deliverability
  • Advice on specification and scheme layout
  • End user knowledge

 

Contact Us

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April Deals Update

In March we were named as the most active commercial property agency in the North East by Estates Gazette. Our Newcastle and Teesside offices were awarded the title for transactions completed in 2016, totalling over 1.8million sq ft of commercial property let or sold in the region. On March 1st a landmark business rates ruling by the UK Supreme Court stated that properties could be given a nominal £1 rateable value, on the grounds that is undergoing significant refurbishment which restricts it from being a functional space. Our rating team first started work on the S J and J Monk v Newbigin case in 2013, so welcomed the decision from the Supreme Court. Our specialist caravan and holiday parks team completed a number of deals in March, including the sale of a 43-acre holiday park in Northumberland that was marketed off a guide price of £5.5million. They also sold parks in Plas Newydd, North Wales and Kirkby Stephen in Cumbria off guide prices of £1.295million and £800,000 respectively. Our team in the North East has a number of properties currently available, including 4,000 sq ft of office space at Preston Farm Business Park, a prominent car sales unit in Darlington and a number of Newcastle City Centre offices at St James Gate, One Trinity Gardens and on Grey Street, just down the road from our offices. Acting as retail agents we have also helped secure a major new anchor unit at the Royal Quays Outlet in North Shields, the new space, situated on the main car park of the centre, has been innovatively created using a large inflatable dome structure.

Read More....

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In March we were named as the most active commercial property agency in the North East by Estates Gazette. Our Newcastle and Teesside offices were awarded the title for transactions completed in 2016, totalling over 1.8million sq ft of commercial property let or sold in the region.

On March 1st a landmark business rates ruling by the UK Supreme Court stated that properties could be given a nominal £1 rateable value, on the grounds that is undergoing significant refurbishment which restricts it from being a functional space. Our rating team first started work on the S J and J Monk v Newbigin case in 2013, so welcomed the decision from the Supreme Court.

Our specialist caravan and holiday parks team completed a number of deals in March, including the sale of a 43-acre holiday park in Northumberland that was marketed off a guide price of £5.5million. They also sold parks in Plas Newydd, North Wales and Kirkby Stephen in Cumbria off guide prices of £1.295million and £800,000 respectively.

Our team in the North East has a number of properties currently available, including 4,000 sq ft of office space at Preston Farm Business Park, a prominent car sales unit in Darlington and a number of Newcastle City Centre offices at St James Gate, One Trinity Gardens and on Grey Street, just down the road from our offices. Acting as retail agents we have also helped secure a major new anchor unit at the Royal Quays Outlet in North Shields, the new space, situated on the main car park of the centre, has been innovatively created using a large inflatable dome structure.

[fulltext] =>

Our Corporate Real Estate team sold a large mixed-use property, located prominently on the corner of Great Horton Road and Ashgrove, directly opposite the University of Bradford. The property is comprised of residential accommodation, office space and a large basement including a former bar.

Acting on behalf of the Royal Mail, our industrial agency team in Leeds sold a 9,500 sq ft industrial unit at Doncaster Carr Industrial Estate to Hird Rail Services. Our Leeds team also completed a number of letting deals, including a 7,350 sq ft unit on Wakefield Road to Hire Station and a 10,000 sq ft space to Howdens Joinery at Barnsley Trade Park.

Across the Pennines our Manchester agency team sold a ten-acre development site in Tintwistle, High Peak to BXB Bespoke Land Solutions, a strategic land business that are expected to submit a planning application for 165 residential houses to be built on the land. More recently the team also completed the sale of a 7,500 sq ft Oldham office building to the Immigration Advice Service.

At the beginning of March, new guidance was published for the minimum energy efficiency standards that come into effect in April 2018, read more about the regulations here.

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Contact Us

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Here is a summary of our recent deals and instructions from across our office network. 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