Figures compiled by the Leeds Office Agents Forum (LOAF) reveal that a total of 202,839 sq ft of office space was transacted in Q4.
City centre deals totaled 146,503 sq ft across 33 deals and reflected an increase of over 57,700 sq ft compared to the same period last year. As at the end of Q4, YTD city centre activity has reached 624,192 sq ft setting the city up for a strong year-end total.
Notable city centre deals this quarter included 2 separate deals at Wellington Place totaling 39,238 sq ft to Cubo & WSP, Conduent at 1 Leeds City Office Park in excess of 19,000 sq ft
In the Out of Town market, the year ended on a modest quarter with a total 56,336 sq ft space taken over 21 transactions. The most significant transaction was NHS Business Services taking 12,415 sq ft at 1 Munroe Court at White Rose Park.
Moving forward into 2022, we expect with the focus on flexible working, employee wellbeing and a move towards Carbon zero and sustainability, businesses will continue to use their workplaces as a tool with which to help attract and retain the best staff and as such demand for the best located office space, both in and out-of-town will continue to drive the Grade A market.