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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Leeds team appointed joint letting agent on 2 City Walk

Kames Capital has appointed our office agency team as joint letting agent on 2 City Walk, a high profile office building in Leeds City Centre. Approximately 21,250 sq ft of grade A office space will be available in the 64,000 sq ft multi-let building in autumn 2018. We will be marketing the space alongside Knight Frank.

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Kames Capital has appointed our office agency team as joint letting agent on 2 City Walk, a high profile office building in Leeds City Centre.

Approximately 21,250 sq ft of grade A office space will be available in the 64,000 sq ft multi-let building in autumn 2018. We will be marketing the space alongside Knight Frank.

[fulltext] =>

Ric Tsang, assistant fund manager at Kames Capital said, “With a strong reputation in the Leeds office market and refreshing approach to marketing, I’m pleased to have Richard and the team at Sanderson Weatherall on board as letting agents.”

Commenting on the appointment, Richard Dunn, head of our office agency team, said; “2 City Walk is a fantastic office building and has a great location in the city’s south bank area.

“There’s real demand from occupiers in the city for grade A office accommodation, and with limited space available at the moment we expect to see significant interest in 2 City Walk.”

Current occupiers at City Walk include William Hill, Aecom, HGF & Jacobs.

Click here to view further information on the property.

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Grade A office space available in the heart of Leeds city centre

Located in Pinnacle, one of Leeds’ most desirable office locations, we currently have 5,100 sq ft of Grade A office space available to let by way of sub-lease/assignment. Situated strategically between the city’s retail and commercial districts Pinnacle occupies an enviable location with Trinity Shopping Centre, Victoria Gate, City Square and Leeds train station all within a five-minute walk.

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Located in Pinnacle, one of Leeds’ most desirable office locations, we currently have 5,100 sq ft of Grade A office space available to let by way of sub-lease/assignment.

Situated strategically between the city’s retail and commercial districts Pinnacle occupies an enviable location with Trinity Shopping Centre, Victoria Gate, City Square and Leeds train station all within a five-minute walk.

[fulltext] =>

On top of the retail offering, potential tenants will be in good professional company with Bluefin, Schlumbreger, FRP Advisory and Barnett Waddington among current occupiers at Pinnacle.

Richard Dunn, head of office agency commented, “This office space is one of the highest specification properties currently on the market with occupiers benefitting from contemporary common areas, a 24hour concierge reception and large windows providing good natural light and excellent, panoramic views of Leeds. There is no need to worry either, as you’ll have no trouble getting up to the office on the 14th floor, following the refurbishment it was announced that the building now boasts the fastest lifts in Leeds!

View from PinnacleView from Pinnacle

“All of this, combined with the number of shops, bars, and restaurants within a short walk makes Pinnacle a brilliant choice for businesses looking to provide employees with a real work/life balance and we expect to receive significant interest in the property.”

Acting on behalf of a large corporate occupier we are offering the unexpired term of their lease (until May 2022) by way of assignment/sub-let, for further information please contact Richard on 0113 221 6137 or view the property details here.

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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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