The Sheffield office market experienced an impressive Q3 2015, with a combined city centre and out-of-town take-up of 93,380 sq ft – up 43% on the same period in 2014, albeit some 45% down on an exceptionally strong Q2 2015.
Activity was dominated by the presence of two significant deals to professional services firms; namely 13,000 sq ft to Wake Smith at Velocity in the city centre and 12,000 sq ft to Frogomen at Savile House in Attercliffe.
The number of transactions also increased - from 8 in Q3 2014 to 25 in Q3 2015. However, the overall deal size remains low at 3,735 sq ft, illustrating the continued demand for space of sub-5,000 sq ft.
At 58,391 sq ft, the out-of-town market accounted for almost two thirds of the total take-up for the quarter, compared with just 30% during the same period in 2014. However, a large proportion of this comprised just two deals totalling 21,000 sq ft.