Q4 North East office market take-up totalled 616,440 across 50 deals in the three months from October to December.
In the city centre, 10 deals totalling 516,107 sq ft were concluded in Q4 including one transaction totalling 462,847 sq ft in size, the largest ever letting recorded in the North East. Take this deal out and the figures still reflect a positive story for the city centre with 53,260 sq ft of take up, only marginally down on the quarterly average.
The out-of-town market saw 40 deals with a total take-up of 100,333 sq ft, which fell short of the five yearly quarterly average. The key out-of-town transactions were DWP taking 18,000 sq ft at Sunderland Software Centre and Axa taking 23,860 sq ft at 6 Centre Square Middlesbrough.