Q3 North East office market take-up totalled 360,292 sq ft across 47 deals in the three months from July to September.

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In the city centre, 12 deals totalling 41,193 sq ft were concluded in Q3 including one transaction which saw Xplor Technologies acquire the last remaining full floor at Central Square South. The take up figures were slightly down on the same time last year but there was a notable increase in the number of transactions, with the majority being of Grade A quality, reflecting the appetite from occupiers in the city at present.

The out-of-town market saw 35 deals with a total take-up of 319,099 sq ft, which was nearly double the five yearly quarterly average. Although, a large proportion of the take up was as a result of Just Eat acquiring 217,339 sq ft at Rainton House, Rainton Bridge, Durham. Out of town Grade A lettings remained restricted with just one letting north of 10,000 sq ft, as National Utility Hub acquired space at Q15 Quorum Business Park. Out of Town Grade B market remained buoyant as there were a number of lettings transacted in the sub 5,000 sq ft market with a particular interest in self-contained office buildings on popular business parks.