Leeds Office Market Update Q3 2017

Published on: 8th November 2017

View our Leeds office market update for Q3 2017.

Total Leeds office market take up for Q3 stood at 677,754 sq ft which reflected a 199% (451, 245 sq ft) increase on the preceding quarter.

Office take-up in Leeds city centre totalled 557,990 sq ft in Q3 a 345% increase compared to the same period last year, with the bumper quarter contributing to year to date transactions of just under 800,000 sq ft. Activity out of town was also up, reaching 119,554 sq ft, an increase of 81% on Q3 last year and 30% on the preceding quarter.

The stand out deal was the 378,000 sq ft pre-let to the UK Government who signed a 25 year lease for a new, Yorkshire office predominantly for the HMRC and NHS at Wellington Place. This was, we believe, the largest ever office letting in Leeds and also the biggest office deal to complete outside of London so far this year.

Head of office agency at our Leeds office, Richard Dunn, said, “Thanks to the large government pre-let the Leeds office market recorded the highest quarterly take-up figures we have experienced. However it is testament to the strength of the quarter that once this transaction is stripped out of the figures, city centre take-up still amounted to a very healthy 179,990 sq ft, the highest quarterly take up total since Q4 2015."

If you have any questions on the quarterly report then please contact head of our Leeds office agency team, Richard Dunn.

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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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