Leeds out of town office take-up exceeds city centre take-up for second successive quarter

Published on: 19th July 2016

Download Leeds Office Market Update Q2 2016.

In the second quarter of 2016 the out of town market outperformed the city centre for the second successive quarter.

According to the Leeds Office Agents' Forum (LOAF), city centre take-up was down 40% on Q1 with take-up of 73,103 sq ft across 25 deals, making it one of the quietest quarters since Q4 2012. The largest deal of the quarter saw Plexus Law take 14,743 sq ft at Joseph’s Well.

There is continued optimism for the out of town market, with take-up of 76,026 sq ft in Q2. Two transactions were in excess of 10,000 sq ft, namely NHS Property Services who took 10,826 sq ft at Wira Business Park in Horsforth, and Slater & Gordon, who took 10,860 sq ft in City West.

The Leeds Office Agents' Forum was established in 2010 by the leading surveying firms based in Leeds to collate and distribute definitive market data. Its members are Sanderson Weatherall, BNP Paribas, Carter Towler, CBRE, Colliers International, DTZ, Eddisons, Fox Lloyd Jones, Bilfinger GVA, JLL, Knight Frank, Lambert Smith Hampton, Ryden, Savills and WSB.

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