Leeds’ city centre office market has proved healthy in the first three months of 2013. Take-up increased by 51% compared with the same period last year, totalling 235,001 sq ft (Q1 2012: 155,847 sq ft).
Leeds’ out of town market also witnessed a dramatic uplift in activity, with a first quarter take-up of 96,574 sq ft - almost double the same period last year (Q1 2012: 56,021 sq ft).
This brings the first quarter total for the entire Leeds office market to 331,575 sq ft, a rise of 56% on the same period last year (Q1 2012: 211,868 sq ft).
Demand continued to be driven by smaller transactions, with more than half of the total activity for office space below 2,500 sq ft.
Demand for grade A space remained strong, with over 70% of take-up focused on this sector of the market.
For a detailed breakdown of Q1 2013 take-up by grade, please click here or on Chart 1 to the left of this article.