Paul Andrew, head of office at Bradley Hall Yorkshire, explores how the Leeds office market is experiencing strong demand from occupiers and how Bradley Hall’s expertise can support clients to find their ideal office space across the West Yorkshire city.
“The Leeds office market is experiencing a notable resurgence, with recent data indicating a significant uptick in activity. According to the Leeds Office Agents Forum, city centre office take-up in the third quarter of 2024 reached 146,372 square feet across 33 deals. This represents a 7% increase compared to the same period in the previous year and a substantial 47% rise from the second quarter of 2024.
“This positive trend underscores the resilience and attractiveness of Leeds as a prime location for businesses. Notable transactions contributing to this growth include the University of Law’s commitment to 15,241 square feet at Yorkshire House on Greek Street and Wizu, a locally headquartered flexible workspace provider, securing 13,860 square feet at One Embankment. These deals highlight the ongoing importance of the legal, education, and flexible workspace sectors in the Leeds office market.
“The out-of-town office market has also seen significant activity, with take-up reaching 112,893 square feet across 22 deals in the same quarter. This marks the highest quarterly total since the first quarter of 2021 and a 55% increase compared to the same period in 2023. Key transactions in this segment include Persimmon Homes acquiring 13,134 square feet at Temple Point and flexible office space provider 2 Work securing significant space, further emphasising the demand for quality office environments beyond the city centre.
“At Bradley Hall Yorkshire, we are well-positioned to assist businesses and investors in navigating this dynamic market. Our comprehensive services include:
- Market Analysis and Insights: Providing up-to-date information on market trends to inform strategic decision-making.
- Property Acquisition and Leasing: Assisting clients in identifying and securing prime office spaces that meet their specific requirements.
- Valuation and Advisory Services: Offering expert valuations and advice to ensure informed investment choices.
“With so many businesses setting up new offices in Leeds and the wider area, now is the ideal time for firms to look to move into new commercial office space. From SMEs to national firms, Leeds has office spaces to suit every requirement.
“The recent data reflects a robust and growing office market in Leeds, presenting numerous opportunities for businesses and investors alike. Whether you’re looking to expand your operations, invest in commercial property, or explore flexible workspace solutions, Bradley Hall Yorkshire is here to guide you every step of the way.
“Contact us today to learn more about how we can support your commercial property needs in this thriving market.”
