Rents for Leeds office space are on the road to recovery in 2010, one of the UK’s leading property consultancies have forecast.
According to CB Richard Ellis, the final quarter of 2009 saw £157 million of deals completed for centrally located offices.
The showing, which was fuelled by the largest deal in the city for five years, represented the highest figure recorded for a quarter since 2007.
Jonathan Shires, director of office agency for CBRE Leeds, said that the green shoots would foster a boost for investor confidence over the next 12 months.
He told the Yorkshire Evening Post: “Sentiment is improving across the region as a whole as Yorkshire demonstrates its resilience against the global economic downturn.
“As a result of the turbulent economic backdrop, take-up in Leeds was some 19 per cent down from the 10-year average but demand was particularly healthy in the last quarter with 162,000 square feet of deals, including the largest deal for five years of 56,800sq ft to Yorkshire Water at Livingstone House, Clarence Dock.”
News of the Mr Shires’ prognosis comes after CBRE Leeds recently confirmed the launch of a northern development consultancy team.
Tags: leeds