Our latest Sheffield Office Market Pulse, which provides investors, occupiers and developers with detailed insight across the region, revealed that combined take-up across the city centre and out-of-town markets reached 75,315 sq ft in Q4 2017.
Tom Burlaga, Associate Director at LSH Sheffield, commented: “The completion of new grade A space at Digital Campus was a catalyst for activity, while repositioned grade B buildings continue to perform well and have seen solid rental uplifts and good levels of take-up. Out-of-town, demand remains focussed on freehold, pavilion style offices for which there is a dwindling supply.”
Despite a handful of larger office investment transactions taking place across Sheffield during H1, just one deal completed in Q4, bringing the the total investment volume for the year as a whole to £50.4m; more than half that of 2016.
Luke Symonds, Associate Director of Capital Markets across Yorkshire, commented: “Interest remains driven by current occupier sentiment and large scale improvement projects throughout the city core and the key challenge going forward will be to communicate the long-term sustainability of the Sheffield office market to the investor community.”