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Supply of Grade A Office Space in Leeds to Feel Pinch

Supply of Grade A Office Space in Leeds to Feel Pinch

The supply of Grade A office space in Leeds will come under pressure as demand for such office space within the city begins to outstrip supply according to Commercial Property consultants CB Richard Ellis (CBRE).

Reported today by the Yorkshire Business Insider, CBREΓÇÖs director of valuation in Leeds Michael Porter spoke about this upcoming issue in the supply of Grade A office space.

ΓÇ£There is very little Grade A (office) space available in the city centreΓÇ¥ explained Mr Porter at a client seminar hosted by CBRE before explaining how the mothballing / abandoning of office developments caused by recession has impacted upon the development pipeline in Leeds.

ΓÇ£Development activity in the city has clearly reduced and all but ceased. Schemes will progress but only providing there are sufficient pre-lets and funding in place.ΓÇ¥

These comments follow confirmation of the first letting at the speculative 10 South Parade office development last month, a speculative 36,000 sq ft Grade A office building.

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Author: | June 10, 2010 | 0 Comments

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