Total office take up for the second quarter of 2024 reached 146,100 sq ft.

In the city centre, a total of 99,348 sq ft was transacted across 23 deals. The major city centre letting in Q2 was to Leeds Teaching Hospitals NHS Trust who took 43,731 sq ft of offices at Joseph’s Well, making it the biggest deal in the first half of the year. Total H1 take up in Leeds city centre was 349,332 sq ft across 53 deals with an average deal size of 6,591 sq ft and 8 transactions in excess of 10,000 sq ft. This represents a 13% reduction on H1 2023 where city centre activity totalled 402,274 sq ft. It was however, broadly in line with the 5 year average.

Demand for city centre space was driven by sectors such as banking, professional services & the public sector.

The out of town market was quieter with 46,752 sq ft of space taken which was an uptick on the preceding quarter. The half year position totalled 86,292 sq ft, an approx. 29% decrease compared to H1 last year. The largest Q2 out of town deal saw logistics company Future Forwarding take 6,105 sq ft at Turnberry Park.

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