Office leasing activity across Sheffield reached 69,087 sq ft in Q2 2017, bringing it back in line with near normal levels after the dizzy heights of the previous two quarters, albeit still 75% ahead of the same period in 2016.
The city centre and out-of-town markets combined saw 38% fewer deals than the previous quarter and was dominated by churn deals of sub-5,000 sq ft.
Technology, Media and Telecoms (TMT) occupiers accounted for two of the largest deals; namely ARM’s 20,000 sq ft letting at CityGate and SkyBet’s acquisition of 4,000 sq ft at Montague House on the outskirts of the city centre.
Demand for secondary / refurbished buildings remains strong, as illustrated by the letting at CityGate, which is a long-term predominantly vacant building.
Sheffield’s bid to attract a new HQ for Channel 4 at the site adjacent to the train station could provide significant inward investment into the city as well as a positive knock on effect for related companies in the TMT sector.