Figures collated by the Leeds Office Agents Forum (LOAF) show that total office take-up for the third quarter of 2022 was 188,609 sq ft. In Leeds City centre there were 34 transactions totaling 137,376 sq ft and as a result YTD office take up stands at 407,886 sq ft.
Grade A accommodation once again dominated the market with 102,458 sq ft (c. 75%) of total take up being for the best space as occupiers trade-up the quality of their offices. Four city centre deals in Q3 were in excess of 10,000 sq ft with the largest being the FCA taking 14,207 sq ft at 6 Queen Street. The quarter also saw the first two lettings at the recently refurbished and extended 12 King Street.
The most active sector of the market was the “Business & Consumer services” sector followed by the “TMT” sector which accounted for approx. 28% and 23% of total market activity respectively. In the Leeds Out of Town market, activity was a little subdued where in Q3 a total of 51,233 sq ft was transacted across 20 office deals. The largest letting was the only one above 10,000 sq ft and was recorded at Plateworks House.