New Leeds Office for Flight Centre UK Signals “sign of life” in Market
Corporate travel consultancy firm Flight Centre UK has joined a number of other major brands by signing up for new office space in Leeds’ landmark business development, The Gateway.
The ┬ú150m mixed used development, located on the edge of the city centre, is currently owned by Scotfield Developments. Development Director Stephen Holman said that this latest letting signals “signs of life” in the Leeds office market, and the agreement will raise the profile of the development.
“We hope that they are the first of many commercial lettings at The Gateway this year,” he added, according to the Yorkshire Evening Post.
It is also suggested that the move represents increasing popularity in the city’s East Quarter.
As recently reported on our blog, the latest Leeds Offices Market View from CB Richard Ellis (CBRE) reported a significant increase in the number of commercial office transactions in Leeds during the first half of 2010.
The report signalled a cautious increase in occupier confidence, and possible cause for optimism for the remainder of the year, with CBRE predicting that the increased activity will continue into the second half of 2010.
“A total of 48 deals have completed this year compared with 36 in the first half of last year” commented Jonathan Shires, director of office agency for CBRE in Leeds. However, the size of deal was lower than that of the previous year.
The research concluded: “Looking ahead to the end of the year and into 2011, we are confident that a continuation of occupier confidence will result in some larger deals being completed in the marketplace.”
Similar conclusions can be drawn in the Leeds serviced office market. As shown by officebroker.com’s Serviced Office Review: Yorkshire & Humberside Q2 2010 report, the research charts a rise in both enquiry levels and clients placed throughout the quarter.
Similarly, the quarter recorded a reduction in the average size of workstation throughout the quarter.
Find out more about the serviced office market in officebroker.com’s quarterly Serviced Office Review research series.