Optimistic Future for Leeds Office Market
February 27th, 2010 by admin
There were many high and lows in office market in Leeds in the past year but the overall take-up of office space in
The average take up in the last decade was a little lower than 500,000 sq ft but the overall take-up of firms to rent desk space in the previous year was just 403,800sq ft. This means that there has been almost a 20% decrease in the previous year, as reported by CB Richard Ellis’ Leeds Offices Market View.
By the end of last year, there were signs of recovery shown by the office sector as more than 160,000 sq ft of office spaces had been rented or purchased in the last three months of 2009. The biggest deal of last five years had taken place with 55,000 sq ft being acquired by Yorkshire Water in the Livingstone House, Clarence Dock.
The Head of CB Richard Ellis, a Leeds office agency, Mr. Jonathon Shires, said that the area is witnessing a boost in the morale of the office space market players as
Further, due to economic reasons, a number of small firms had emerged from scratch which has opened up many new prospects and many of the existing firms had retrenched their employees. The sub-leases had accounted for nearly nine-tenth of the total lease deals in the last year.
Mr. Shires said that in spite of the public sector having the highest number of customers in Leeds, the private service firms will slowly grab a larger share of the market which can go up to almost one-third of the market.











