There has been an increase in take-up of Leeds office space, it has been revealed. According to figures released by the Leeds Agents’ Forum, the first three months of this year saw a 300 per cent rise in take-up.
It was revealed that while the number of transactions in the city centre dropped to a 12-month low of 19, the average size of the deals increased, with six of the agreements involving 5,000 square feet or more.
In total, nearly 156,000 square feet of office space was taken during the quarter. This compared with 37,000 square feet during the same period in 2011. One of the most notable transactions involved the take-up of 63,552 square feet of space by Yorkshire Forward, while a deal involving an 18,000 square foot letting to Gratterpalm was also mentioned.
Responding to the findings, Jones Lang LaSalle director Richard Thornton remarked: “Following on from the positive end to 2011, which saw a 30.5 per cent year-on-year increase, we have seen a dramatic rise in city centre take-up in the first three months of 2012.
“Last year’s increase in volumes was led by lots of smaller sized lettings; in comparison Q1 2012 activity was dominated, albeit by a smaller number, of larger sized deals pointing to improving sentiment amongst the bigger occupiers.”
However, Mr Thornton went on to state that looking ahead, there remains “degree of caution” in the market.
Many of the organisations seeking office space in Leeds may be keen to make the most of serviced offices. After all, working environments like this tend to be more flexible and convenient than their traditional counterparts. Thankfully, there is plenty of choice these days when it comes to office space. This means bosses should not struggle to find the ideal solutions for them and their companies.
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