Leeds office market predicted mixed fortunes for 2011
A report into the commercial property market in Leeds finds a mixed bag for office movers in the coming year
Is your company considering an office relocation to Leeds in order to connect with the area’s industry network or make the most of competitive rental rates? Property experts have predicted that the Leeds commercial property market will see mixed results for the coming year and property consultants have outlined a number of trends that office movers should look out for as 2011 approaches.
Companies moving office to Leeds can expect a rise in the number of pre-lettings occurring and an increase in the amount of large commercial property transactions happening in the region. An influx of business movers will help to restore stability to the Yorkshire market, however the levels of secondary grade office space is not expected to fall into this bracket with demand expected to remain low at least in the coming few months.
Eamon Fox of DTZ in Leeds commented, “The regional occupational office market has been extremely challenging during 2010. We have seen occupiers chase value and the mentality has very much been a cautious one – with occupiers only really moving out of necessity, as opposed to aspiration.”
Investment and new initiatives have also been thought to be slow in the public sector since the activity surrounding the general election, but following a comprehensive spending review occupier interest is expected to increase over the ensuing year.
If you are organising an office move to Leeds, we have Moving Office Checklists and Budget Templates to help you plan your office relocation.
