Central Square reaches full occupancy

Published on: 13th March 2019

Central Square in Leeds city centre is now fully let after the completion of two lettings totalling 75,831 sq ft.

Link Market Services, a global share registry and financial services provider, has signed a fifteen-year lease for more than 70,000 sq ft across floors one, two, three and ten.

In addition, the final 5,126 sq ft space in the building has been taken by Crisp Thinking, which provides social media brand safety, and an existing tenant doubling its occupation at the office building.

Head of our office agency team, Richard Dunn commented, "It's brilliant to see Central Square at full occupancy and I am pleased to have acted on behalf of M&G Real Estate alongside joint agents JLL on letting the remaining spaces. The building provides prominent, Grade A office space in one of the finest office buildings in Leeds, something we can vouch for as we moved on to the 6th Floor last year. We look forward to welcoming the new tenants once their fit outs have been completed!"

Completed by M&G Real Estate in September 2016, Central Square is a 217,810 sq ft office development in the centre of Leeds. The building is the biggest speculative office building to ever open in the city and the occupier line-up includes PwC, Sky and BDO.

Sam Jones, asset manager of offices at M&G Real Estate, said: “Central Square delivered the prime office accommodation Leeds was lacking at the right time. The ongoing undersupply of top quality, Grade A office stock in key inner city locations is increasingly mismatched with a continued level of occupier demand and, as our recent UK Outlook research details, this is driving strong rental returns.

“Central Square is now fully let to a high calibre of occupiers, showcasing the draw of well-located and specified offices for businesses of all shapes and sizes.”

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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 Office Market Report Q4 2018

View the full report by clicking here. In the City centre, Q4 take up totalled 134,579 sq ft over 32 transactions. Total take-up in Leeds city centre reached 663,233 sq ft in 2018, 10% above the 10 year average, whilst the out of town sector reached a total take-up of 399,582 sq ft, a 22% increase on the previous year.

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View the full report by clicking here.

In the City centre, Q4 take up totalled 134,579 sq ft over 32 transactions. Total take-up in Leeds city centre reached 663,233 sq ft in 2018, 10% above the 10 year average, whilst the out of town sector reached a total take-up of 399,582 sq ft, a 22% increase on the previous year.

[fulltext] =>

At the year end there is barely any new-build, Grade A accommodation currently available to lease with only a floor of c. 13,000 sq ft at 6 Queen Street and the part 4th floor at 3 Sovereign Square of c. 4,200 sq ft remaining. All the remaining space at Central Square, 3 Wellington Place and the other space at 3 Sovereign Square is in solicitors hands.

We expect the first quarter of 2019 to post relatively strong take-up but thereafter take-up figures are likely to be constrained by the lack of available supply, rather than a lack of demand. This will lead some larger occupiers to seek out pre-lets in order to satisfy their future requirements, with a handful of professional services companies active in the market at present.

For further information about the market update please contact Richard Dunn, head of our office agency team on 0113 221 6137.

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Leeds team celebrate offices first birthday!

Today we are celebrating the 1st birthday of our office at Central Square in Leeds City Centre. We relocated our team of 80 property experts to the sixth floor of the Grade A office building in February 2018 and the office relocation not only saw us move in to a brand new £100m development, but it also allowed us to invest in new technology and working practices that meet the corporate requirements of our increasing client base.

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Today we are celebrating the 1st birthday of our office at Central Square in Leeds City Centre.

We relocated our team of 80 property experts to the sixth floor of the Grade A office building in February 2018 and the office relocation not only saw us move in to a brand new £100m development, but it also allowed us to invest in new technology and working practices that meet the corporate requirements of our increasing client base.

[fulltext] =>

David Rastrick, head of our Leeds office commented, “I can’t really believe it’s been a year since we moved into our prime grade A office accommodation at Central Square. The past 12 months have absolutely flown by.

“We are constantly striving to improve the working environment for all our staff and the new office presented us with a fantastic opportunity. We were lucky enough to be able to draw on the in-house expertise of our agency, marketing, building consultancy and architecture teams who have ensured we have ended up with office accommodation that they can be proud of, and enjoy spending time in.

“Following on from the success of the Leeds move we are now in the process of providing a similar working environment in Newcastle with our move to Grade A offices at Central Square South which should happen by the end of March.”

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