Demand for legal office space 'to increase'

15-12-2006

Demand for legal office space is to increase in the Yorkshire area, according to new reports.

Reports from real estate adviser Jones Lang LaSalle suggests that the office market in Leeds has rapidly increased, with demand for office space leading to greater demand in Yorkshire.

This could lead to growth in office space planning as businesses and firms in the region aim to make best use of commercial property.

Jeff Pearey, head of office agency at Jones Lang LaSalle says that "2007 will see increased demand for office space in the Leeds market from sectors such as law, IT and insurance, which are either outperforming the national employment forecast trend or are subject to corporate change driven by regulation and consolidation".

He adds that more than 50 per cent of 600,000 sq ft has already been committed with remaining supply approaching the 200,000 sq ft mark.

It was recently reported that planning permission for a new business park outside Cardiff had been granted, which could see the creation of up to 100,000 sq ft of office space.

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