Take-up data shows 307,546 sq ft of office deals completed in the first half of this year (H1 2021) in the out-of-town market compared with 275,146 sq ft of offices taken up in Leeds city centre. This means that for the first time in a decade, occupier demand for office space in the Leeds out-of-town market has surpassed the total amount of city centre space let over the same period.

Indeed, Out-of-town take-up in H1 was six times higher than the level recorded over same period last year. This has been brought about by many businesses seeking accessible locations that allow employees a shorter commute and one that can be car-borne – those business park locations with the best combination of transport connections and amenities have been particularly successful in attracting occupiers.

The city centre market also continued to show its resilience over the first of half of 2021. By the end of June, 275,146 sq ft of office transactions had completed, a 72% increase in take-up compared to the first six months of 2020.

In Q2 2021, 106,150 sq ft of city centre office space transacted across 17 deals. The largest was the 41,097 sq ft letting to Global Banking School who took the entirety of St George House on Great George Street. This is a major new occupier for Leeds and a reflection of the city’s strength of depth in the financial sector.

Click Here to download the full Q2 2021 Leeds office market report