The Leeds office market showed an increase in demand in Q3 with a total of 148,317 sq ft of transactions recorded within the city centre, a 47% increase in take-up compared to the same quarter last year.
18 deals (50% of all transactions) acquired grade A office accommodation and only two deals (5%) acquired poorer quality grade C accommodation.
The SME sector continues to dominate the market with 75% of deals recorded acquiring space of less than 5,000 sq ft.
Total take-up for the city centre at the end of Q3 stands at 392,824 sq ft. With a number of larger corporate lead transactions set to complete within the final quarter, the city centre office market is set to have yet another strong performance in 2014.
The out of town markets have been subdued and in the absence of any single large transaction, take-up has been weak at 49,946 sq ft with an average transaction size of 2,940 sq ft.