Rental rise in Sheffield office space

Office design news from Morgan Lovell

Published on 18-08-2011

There has been a sharp rise in the amount of office space rented in Sheffield during the first half of 2011 and this trend is likely to continue throughout the second half of the year, a report predicts.

A total of 86,236 sq ft of office space was taken up in the city during the period from April to July this year, pushing the total for the first half of 2011 up to 154,340 sq ft, according to Knight Frank’s latest Regional Office Market Presentation (ROMP).

There is likely to be a surge in the number of office refurbishment jobs in the city following the huge increase in the amount of space let during the first half of the year, which represents a 77% increase on the same period of 2010.

The high uptake of rented office space is said to have been boosted by a number of high-profile deals that have been brokered in the city, such as Sheffield Hallam University’s expansion into the city centre and various deals at the renovated Aspect Court and Sheffield Business Park.

Tim Bottrill, partner at Knight Frank, said: "Judging by activity so far this year, and despite the ongoing debate about the effects of public sector cuts on office demand, 2011 is firmly on course to exceed the level of take-up seen in 2010."

Copyright Press Association 2011