By Paul Andrew, Head of Office at Bradley Hall Yorkshire
The first half of 2025 has been a period of confidence and growth for the commercial property market in Leeds and across West Yorkshire. Despite wider economic uncertainty, the region has demonstrated resilience, with rising rental values and a surge in investment activity that has nearly tripled compared with the same period last year. This performance reflects the strength of Yorkshire as a key business and investment destination.
Industrial property has been the standout performer, with demand for prime assets far outstripping supply. At the same time, offices and retail have shown renewed energy, supported by businesses re-engaging with collaborative workspaces and consumers driving stronger footfall across both city centres and out-of-town retail parks.
At Bradley Hall, we are continuing to strengthen our team to meet this momentum. The recent appointment of Henry Bowers as Agency Surveyor in Leeds allows us to further expand our support for clients across Leeds, Wakefield, Huddersfield, and beyond. His expertise will help us deliver the full-service approach that Bradley Hall is known for.
Offices: Demand Above Average
Leeds and Sheffield have seen a clear return of occupational office demand. H1 take-up reached 325,611 sq ft, which is 13% higher than the five-year average. Businesses such as Network Rail have chosen to open offices in the region, underlining the attractiveness of Yorkshire’s major hubs.
Office occupancy has risen to 75.3%, above pre-pandemic levels, with more businesses encouraging staff to embrace hybrid or full office-based working. The success of collaborative, modern workspaces such as Thorpe Park and Park House demonstrates this shift in occupier priorities.
Industrial: Leading the Market
The industrial sector continues to drive the region’s growth story. Lettings rose by 41% in H1, totalling 1.7 million sq ft, the strongest first-half performance since 2021. With a three-year upward trend, Yorkshire is seeing businesses move to larger, modernised estates or relocate further north for more competitive rental values.
The growth of e-commerce has intensified the demand for distribution centres and warehousing, a trend that shows no sign of slowing.
Retail and Leisure: Steady Recovery
Retail parks remain the strongest performers, with vacancy rates declining to 6% in Q2. High-profile destinations such as Crown Point, Junction 1, and Trinity Leeds are all thriving. Trinity Leeds has reported a 15.7% year-on-year sales increase between April and June, supported by a 4.7% rise in footfall. Improved transport links are helping to boost city centre performance further.
Leisure has also been a bright spot, with new venues including Azotea, The Crowded House, and Uyare at Victoria Gate adding to the region’s cultural vibrancy. The planned STACK development at Kirkgate Market will create a major new community hub and more than 160 jobs.
Looking Ahead
The first half of 2025 has highlighted the resilience and dynamism of the Leeds and West Yorkshire commercial property market. Strong demand across offices, industrial, and retail, together with rising investment volumes, reflects renewed confidence from both businesses and investors.
At Bradley Hall, we are proud to be part of this journey, supporting clients with a full-service approach tailored to the region’s evolving needs. With new talent strengthening our Leeds team, we are well placed to help our clients take advantage of the opportunities that lie ahead.
For more information on how Bradley Hall Yorkshire can help, visit: https://www.bradleyhall.co.uk/branches/leeds/
