Leeds Office Market Report Q1 2019

Published on: 5th June 2019

View the full report by clicking here.

Leeds city centre take-up reached 222,318 sq ft which was an increase of 15% on the equivalent quarter last year and 65% up on the preceding quarter. There were 39 deals in total including 6 transactions over 10,000 sq ft. The largest was a letting to Link Asset Services who are re-locating from Wakefield and Huddersfield to Central Square in a 71,000 sq ft deal which means that the building is now fully let.

The other deal of significance saw consultant WYG sign for 21,000 sq ft at 3 Sovereign Square and who will move its HQ into the city centre from Headingley. The purchase of Quayside House by Unite underlined the strong appetite from owner-occupiers for well-located, city centre buildings.

At present there is only one Grade A building that can accommodate a requirement of 40,000 sq ft during 2019. This has led larger occupiers to seek out pre-lets in order to satisfy their future requirements and there are a handful of such occupiers active in the market at present.

The Government Hub announced its move in 2017 and will open in the next 12 months. In addition, Channel 4’s headquarters will move to the city and 200-plus staff to the region, with the headquarters and studio expected to be fully operational by 2023. The new site will house ‘key creative decision-makers’, and will be home to a ‘digital creative unit’ to make material for online platforms and social media.

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Q1 Rise for Leeds office take-up

Leeds city centre office take-up grew to more than 220,000 sq ft in the first quarter of 2019, according to date from the Leeds Office Agents' Forum. Click here to read more. 

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Leeds city centre office take-up grew to more than 220,000 sq ft in the first quarter of 2019, according to date from the Leeds Office Agents' Forum. Click here to read more. 

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Indigo Blu | Prestigious office space at the heart of Leeds South Bank

We've created a short video to showcase the high quality offices available at Indigo Blu, a landmark building prominently situated on the corner of Hunslet Lane and Crown Point Road in the heart of the vibrant and developing South Bank area of Leeds city centre. 

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We've created a short video to showcase the high quality offices available at Indigo Blu, a landmark building prominently situated on the corner of Hunslet Lane and Crown Point Road in the heart of the vibrant and developing South Bank area of Leeds city centre. 

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Leeds Office Market Report Q4 2018

View the full report by clicking here. In the City centre, Q4 take up totalled 134,579 sq ft over 32 transactions. Total take-up in Leeds city centre reached 663,233 sq ft in 2018, 10% above the 10 year average, whilst the out of town sector reached a total take-up of 399,582 sq ft, a 22% increase on the previous year.

Read More....

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View the full report by clicking here.

In the City centre, Q4 take up totalled 134,579 sq ft over 32 transactions. Total take-up in Leeds city centre reached 663,233 sq ft in 2018, 10% above the 10 year average, whilst the out of town sector reached a total take-up of 399,582 sq ft, a 22% increase on the previous year.

[fulltext] =>

At the year end there is barely any new-build, Grade A accommodation currently available to lease with only a floor of c. 13,000 sq ft at 6 Queen Street and the part 4th floor at 3 Sovereign Square of c. 4,200 sq ft remaining. All the remaining space at Central Square, 3 Wellington Place and the other space at 3 Sovereign Square is in solicitors hands.

We expect the first quarter of 2019 to post relatively strong take-up but thereafter take-up figures are likely to be constrained by the lack of available supply, rather than a lack of demand. This will lead some larger occupiers to seek out pre-lets in order to satisfy their future requirements, with a handful of professional services companies active in the market at present.

For further information about the market update please contact Richard Dunn, head of our office agency team on 0113 221 6137.

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WYG moves headquarters to Leeds city centre

Professional services firm WYG has today announced that it will be moving its corporate headquarters to the 3 Sovereign Square development, in Leeds city centre from its current base in Headingley. Sanderson Weatherall’s head of agency, Richard Dunn, acted on behalf of WYG in securing the new premises, having been appointed as national property advisor to the firm at the end of last year.

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Professional services firm WYG has today announced that it will be moving its corporate headquarters to the 3 Sovereign Square development, in Leeds city centre from its current base in Headingley.

Sanderson Weatherall’s head of agency, Richard Dunn, acted on behalf of WYG in securing the new premises, having been appointed as national property advisor to the firm at the end of last year.

[fulltext] =>

The relocation, which will involve over 300 people, is planned for Summer 2019. The move is part of a wider strategy to grow WYG’s presence in Leeds and the wider Yorkshire region. WYG’s multidisciplinary consulting business advises across a wide-range of disciplines covering infrastructure and built environment, programme and project management, surveying and asset management, environment and planning and transport.

Commenting on the move, Douglas McCormick, chief executive officer at WYG said: “Sovereign Square puts WYG at the heart of the Leeds business community. It is the home of WYG’s headquarters and a vitally important market as we target growth across the range of professional services we deliver for clients in Yorkshire.

“We are moving into a modern, flexible office space that offers a more convenient and accessible working environment for our employees and clients. We have chosen a prime location close to the railway station. We know this will optimise benefits for our people and visitors, from making a positive impact on our environmental footprint to having a great place to work, meet, and do business.”

Richard Lewis, Leeds City Council executive member for regeneration, transport and planning Councillor said: “We are delighted to welcome WYG to 3 Sovereign Square. This move further endorses the success of the council’s approach to Sovereign Square, supporting businesses looking to develop and grow through investment in our city centre. This helps to stimulate the local and regional economy, so we very much welcome WYG renewing its commitment to Leeds in this way and offer them best wishes in their new premises.”

The offices will provide employees with modern flexible workspaces and top-class meeting facilities to welcome clients, colleagues and partners. The building is Grade A, BREEAM Excellent office space and supports WYG’s sustainability strategy as the team works to minimise the environmental impact of its operations.

WYG’s new offices will span 21,000 sq. ft. on the 4th and 5th floors of the building, which was developed by Bruntwood and Kier and is owned by Leeds City Council. The building is conveniently located close to Leeds Railway Station and is part of a development that will eventually include a new city park and a terminus for the HS2 eastern route.

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Leeds team celebrate offices first birthday!

Today we are celebrating the 1st birthday of our office at Central Square in Leeds City Centre. We relocated our team of 80 property experts to the sixth floor of the Grade A office building in February 2018 and the office relocation not only saw us move in to a brand new £100m development, but it also allowed us to invest in new technology and working practices that meet the corporate requirements of our increasing client base.

Read More....

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Today we are celebrating the 1st birthday of our office at Central Square in Leeds City Centre.

We relocated our team of 80 property experts to the sixth floor of the Grade A office building in February 2018 and the office relocation not only saw us move in to a brand new £100m development, but it also allowed us to invest in new technology and working practices that meet the corporate requirements of our increasing client base.

[fulltext] =>

David Rastrick, head of our Leeds office commented, “I can’t really believe it’s been a year since we moved into our prime grade A office accommodation at Central Square. The past 12 months have absolutely flown by.

“We are constantly striving to improve the working environment for all our staff and the new office presented us with a fantastic opportunity. We were lucky enough to be able to draw on the in-house expertise of our agency, marketing, building consultancy and architecture teams who have ensured we have ended up with office accommodation that they can be proud of, and enjoy spending time in.

“Following on from the success of the Leeds move we are now in the process of providing a similar working environment in Newcastle with our move to Grade A offices at Central Square South which should happen by the end of March.”

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Wellbeing at work: the impact office design has on your health

For many of us, a large portion of our day is spent at work; in fact, the average person will spend 90,000 hours at work over a lifetime, so it’s no surprise our work environment can have a huge impact on our quality of life.  Our architecture team have put together their thoughts on how your office and its design features might be helping or harming your health.

Read More....

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For many of us, a large portion of our day is spent at work; in fact, the average person will spend 90,000 hours at work over a lifetime, so it’s no surprise our work environment can have a huge impact on our quality of life. 

Our architecture team have put together their thoughts on how your office and its design features might be helping or harming your health.

[fulltext] =>

Temperature

Studies suggest that high temperatures in the office are less tolerated than low temperatures, with a 6% reduction in productivity in warmer temperatures and a 4% with cooler. The optimum temperature is thought to be between 21° and 23° with thermal comfort being a key factor influencing an employee’s workplace satisfaction.

Air Quality and Ventilation

The quality of air within an office can have a significant impact on your health, and in turn productivity. Research carried out by the World Green Building Council in 2003 recorded a 11% increase in productivity as a result of increased fresh air to the workstation and a reduction in pollutants.

Daylighting & Lighting

Lighting in the workplace must satisfy a variety of different needs, not only does lighting ensure we can carry out the task in front of us, it can also effect an employee’s mood, communication, and health. Poor lighting and lack of control of the visual environment can influence employee productivity, whilst visual discomfort such as poor visibility, glare and flicker can lead to headaches and eyestrain. Studies show that employees with access to a window, slept on average 46 minutes more per night, had a reduction in sick leave and had overall improved workplace satisfaction.

Noise & Acoustics

Noise levels within the office can vary substantially from office to office depending on the industry. Both external and internal noise is one of the lead causes of dissatisfaction within the workplace, and is particularly problematic within open plan offices. Noise distractions can not only impact productivity but can have a detrimental impact on your health and stress levels.
A design solution that allows employees to find the balance between background noise and distractions is providing a range of different work spaces, each with different acoustic conditions, allowing staff to be flexible and decide what setting they work depending on their preferences.

Views

Views away from the office allow the eyes to adjust and refocus, reducing fatigue, headaches and eye strain. Ideally views should be aesthetically pleasing with views of the outdoors having the additional benefit of daylighting as discussed earlier. Studies show that introducing indoor planting to an office can improve productivity, concentration as well the indoor air quality. Adding indoor plants is not the only way to encourage a biophilic workspace, interiors and artwork can be designed to mimic shapes and forms found in nature and natural soundscapes can be used with the additional benefit of masking noise.

Layout

Finally, the layout of an office can influence concentration, collaboration, confidentiality and creativity. Hot desking and shared workspaces are becoming increasingly common in modern working environments with the objective to increase workspace density and provide more efficient spaces, but this shouldn’t be done at the expense of people’s wellbeing.
Several design considerations can be made to improve employee wellbeing, two key aspects being agile working and active design. Agile working gives the employee flexibility, providing a variety of different work settings and giving employees control over where, how, and when they work and active design encourages movement both inside and outside the office.

For further information visit sw.co.uk/architecture.

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