Total take-up of office space across the North East rose by 72% to 271,168 sq ft, compared with 157,593 sq in Q2 2012.
City Centre take-up reached 71,678 sq ft – an increase of 50% on the same quarter last year. However, demand remains driven by the second hand market, with grade A take-up comprising only 17,219 sq ft – consistent with the 17,500 sq ft transacted in Q2 2012.
The out of town market remained the focus of occupier activity, with 199,490 sq ft of office space transacted– almost double that of Q2 2012.
For a detailed breakdown of north east office take-up by grade for Q2 2013, please click here or on Chart 1 to the left of this article.