The Leeds office market demonstrated resilience in 2024 as it recorded 929,470 sq ft of transactions for the year, representing a 2% increase compared to 2023. The largest of the 113 city centre deals signed in 2024 was to the Leeds NHS Teaching Hospitals Trust, who took 43,731 sq ft at Joseph’s Well.

The final year-end take-up total for the city centre was 653,410 sq ft, 13.67% higher than the five-year average.

In the last three months of the year (Q4 2024), Leeds city centre office take-up reached 157,706 sq ft across 27 deals, 40% higher than the same period in 2023. Among the key city centre transactions, x+y’s commitment to 33,990 sq ft at Bridgewater Place for their first Leeds flex space offering, was the largest. Another notable letting was Evoke Studios, who took 27,772 sq ft at West Village.

Demand for city centre space in the final three months of the year was driven by the health, professional services and flex space sectors.  Occupiers continue to focus on Grade A space when considering a move and securing the highest quality, most sustainable and accessible working environment.

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