Leeds retains competitive edge for businesses moving office to Leeds
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According to the latest research figures into leased office space, office rents have stabilised in over half of the property markets analysed including Leeds where office rent levels have remained unchanged since March 2010.
Commercial Property Agents in Leeds are anticipating an average of 0.7% rental growth in headline rents in 2011 for office space in Leeds. Vacant office space in Leeds is now standing at 1.8m sq ft. Although take-up remains low, with the figure in Leeds city centre falling by more than half in the first three months of 2011, the vacancy rate has reduced to 9.5 per cent, down from 14.1 per cent at the end of 2009.
Leeds is proving a popular business destination for office movers, with a number of new office space requirements coming to the market as well as older requirements being reactivated. Companies such as Lupton Fawcett, Yorkshire Housing Association and the Medical Protection Society, are currently looking at their office space options. Nearly 500,000 sq ft of office space requirements in Leeds are in the private sector.
Leeds Property Consultant Jeff Pearey said: “Leeds retains its competitive edge nationally with a good range of Grade A office stock still on offer and rents that compare favourably with the likes of Manchester, Glasgow and Edinburgh. Enquiry levels for office space have improved over the first half of 2011 and we anticipate stronger market activity this year in comparison to 2010, this bodes well for anyone contemplating moving office to Leeds or indeed planning ahead for more substantial developments in the city.”
If your business is planning an office relocation to Leeds, you will need the advice and expertise of a Leeds Commercial Property Agent to help satisfy your office space requirements and secure the best office space available for your business. Help Moving Office has sourced and screened 3 reputable Leeds Commercial Property Agents to assist with your Leeds office space requirements; WSB Property Consultants, Lambert Smith Hampton, & AWS.
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