KPMG Could Help Leeds Office Space Rise from the Ashes
Another stalled office space development could be about to rise from the ashes, with TheBusinessDesk.com reporting that the collapsed ΓÇ£Kissing TowersΓÇ¥ development in Leeds could make way for three new office buildings ΓÇô one of which could become the location of professional services firm KPMGΓÇÖs Yorkshire HQ.
Working alongside Leeds City Council, KPMG have apparently been exploring this new office space option since early 2010 and the offices could be completed as early as 2015.
ΓÇ£The Council is currently working on a draft masterplan for the site which will include three buildings, with the possibility of KPMG occupying oneΓÇ¥ confirmed Cllr Richard Lewis during the interview.
The executive member of Leeds City council also highlighting the project as ΓÇ£an exciting development opportunityΓÇ¥ and explained that this development could open-up the possibility of integrating an ΓÇ£urban public green spaceΓÇ¥ in the process.
While Ian Moffatt of KPMG stated that they would continue to consider all the available options to help them fulfill their future office space needs, the process they are currently engaged with alongside Leeds City Council would be focused on during the coming months.
The location for this proposed development is Criterion Place, a brownfield site which has remained undeveloped for nearly 20 years and is currently used as a surface level car park. Should the new project progress under the direction of KPMG and Leeds City Council the scheme would signify one of the largest office space developments to have taken place in Leeds City Centre.
Driven by an expected increase in employees and the expiry of their existing lease in 2015, the decision by KPMG to explore their office space options takes place against a backdrop of falling Grade ΓÇÿAΓÇÖ availability in Leeds and, according to DTZ, shifting attitudes toward the incentive packages which landlords have used widely to secure tenants since the financial downturn in 2008.
Outside of the commercial office market, the serviced office space sector in Leeds continues to generate growing levels of interest, with the number of businesses actively exploring this flexible alternative to office space increasing by 36% between September ΓÇô November 2010*.
*Increase shown compares the number of enquiries received for serviced offices by officebroker.com between Sep-Nov 2009 and the same three month period of 2010. officebroker.com is the UKΓÇÖs largest independent broker of serviced office space and works alongside 98% of all UK serviced office providers.
Further research on the serviced office market in the UK can be accessed for free from the Stats & Facts section of officebroker.com in the form of the Serviced Office Review series.