Leeds office take up boosted in Q2 by pre-lets at 3 major new developments

Leeds Central Square
Published on: 23rd July 2015

A healthy quarter saw city centre take up at 213,126 sq ft across 40 deals, leaving H1 2015 standing at a promising 300,815 sq ft, compared to 243,987 sq ft at the half way point last year.

Click here to download Leeds office market update Q2 2015

The largest transaction of the quarter was the prelet of 51,531 sq ft to Addleshaw Goddard at 3 Sovereign Square. Other notable transactions were prelets of 49,650 sq ft to PwC at Central Square, and 19,784 sq ft to Equifax at No 6 Wellington Place. These three buildings are due to be completed over the next 12 months, and will significantly contribute to the attraction of major occupiers to Leeds city centre.

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Agency - sales & lettings

Our award winning property agents provide transactional services across the UK to owners, occupiers, investors and developers. Our agency teams specialise in regions and industries around the country, providing local insight and technical knowledge that's relevant to your business, property and location. We add value by offering commercially astute advice, and alerting you to the opportunities and threats that might affect your transaction. We'll also work with our property and building consultants to advise you on planning, valuations, business rates, dilapidations, building surveys, lease and rent reviews, as well as talk to our in house architects about any fit-out requirements.   Contact Us

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Our award winning property agents provide transactional services across the UK to owners, occupiers, investors and developers.

Our agency teams specialise in regions and industries around the country, providing local insight and technical knowledge that's relevant to your business, property and location.

We add value by offering commercially astute advice, and alerting you to the opportunities and threats that might affect your transaction.

We'll also work with our property and building consultants to advise you on planning, valuations, business rates, dilapidations, building surveys, lease and rent reviews, as well as talk to our in house architects about any fit-out requirements.

 

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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

 

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Leeds city centre second highest office take up figures on record

Download Market Update Q4 2015. The last quarter of 2015 saw one of the highest volumes of deals on record for Leeds city centre. Between October – December 2015 city centre take up figures reached 267,187 sq ft across 53 transactions. 

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Download Market Update Q4 2015.

The last quarter of 2015 saw one of the highest volumes of deals on record for Leeds city centre. Between October – December 2015 city centre take up figures reached 267,187 sq ft across 53 transactions. 

[fulltext] =>

This left year end take up figures at 680,105 sq ft – the second highest total since records began, and up 25% on 2014. The largest transactions of the quarter were the two pre-let deals to Sky at New Dock totalling 97,022 sq ft, also making it the largest transaction of 2015.

In the out of town market year end take up figures were up 13.23% on last year at 268,041.

Richard Dunn, partner in our Leeds office, commented on the upcoming year: “The future of the Leeds office market looks very promising, with major city centre schemes opening this year and the majority with significant pre-lets. We have also seen a resurgence in the out of town market, which will hopefully continue with the arrival of quality stock in the planned developments at Thorpe Park, WROP and Kirkstall Forge.”

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