Leeds office rents to be maintained in 2011

Office design news from Morgan Lovell

Published on 07-03-2011

Office rents in Leeds are set to hold steady over the coming months, a new report has forecast.

According to data compiled by Knight Frank, typical office interior rents in the city are expected to stand at around the £247 per sq ft mark in 2011, with office uptake down by approximately ten per cent last year in comparison to 2009.

Alex Munro, head of commercial agency development at Knight Frank in Leeds, said: "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."

Elsewhere in the city, office agent Lambert Smith Hampton recently announced an office relocation to a new building at City Square from its former premises at Sovereign Street.

The company has taken on 4,600 sq ft of office space at the site and will be transferring 40 members of staff over the coming months.

Posted by Ian Johnson