There is a general feeling of optimism in the Sheffield office market, as the combined city centre and out of town annual take-up figure increased from 190,000 sq ft in 2012 to 255,000 sq ft in 2013 – a rise of more than 34%.
The city centre had a steady finish to 2013, with Q4 take-up of 20,239 sq ft – broadly in line with the same quarter in the previous year.
Lack of grade A supply remains a major constraint in terms of city centre leasing activity which, at 9,521 sq ft, accounts for less than half of the total quarterly take-up.
The out of town market witnessed somewhat of a resurgence in 2013, with 42,925 sq ft of space let or sold between October and December – quadruple that of the corresponding period in 2012.
For a detailed breakdown of take-up by grade, click here or on Chart 1 to the left of this article.