Leeds office rents 'will remain steady this year'

Offices in Leeds will continue to cost about £24 per sq ft in 2011, according to property experts.

Article posted: 04 Mar 2011

Firms looking to rent offices in Leeds this year may be pleased to learn that the cost of doing so is likely to remain steady.

According to research by Knight Frank, reported by Insider Media, the typical charge for space in the city is expected to stay at £24 per sq ft for the rest of the year.

The property consultancy noted the price tag attached to office space in Leeds peaked in 2009, when it hit £27 per sq ft.

Alex Munro, head of commercial agency development at Knight Frank in Leeds, said the take-up of offices in the West Yorkshire city in 2010 was down on the ten-year average.

However, he added: "The outlook for early 2011 is more positive - with two deals totalling 50,000 sq ft due to complete in the first quarter - [and] availability is forecast to increase further."

Last month, the NSPCC moved its regional centre to new office space in Leeds after signing up for 7,850 sq ft at St John's Offices on Albion Street.

Posted by Jenni