2024-02-05-莱坊-UK_Cities_Leeds_Q4_2023_1页_265kb

Leeds Office Market Q4 2023 Summary

Key Metrics

• Demand: Office space occupancy took up 112,272 sq ft in the professional services sector, with an average daily utilization rate of 5.53%. Total take-up volumes showed significant year-over-year decreases, with yields at £6.45 and a -89% change from previous year.
• Supply: Available office space stood at 176,286 sq ft, maintaining a Grade A vacancy rate of 5.53%, indicating low vacancy levels. Activity deals numbered 33 for the quarter.
• Investment: Occupational investment reached 30,000 sq ft take-up, with under-construction schemes targeting completions in 2024-2026.
• Vacancy and Yields: Prime Grade A vacancy rate was 5.53%, with yields at 6.50% for the last 12 months, projected to rise to 6.50% by end of 2024.
• Investor Composition: In Q4 2023, 44% of investors were property companies, and 56% were overseas entities.
• Prime Rent: Average prime rent for SCIO ceased at £38.00, with SLSDF of £37.00, set to increase to £40.00 by 2024 end.
• Deal Volume: High activity volume saw 33 transactions, compared to typical lower yields trends.

Market Overview

• Leeds office market experienced strong demand and investment activity in Q4 2023, marked by low vacancy and high utilization, but with noted yield decreases. Future investments are forecasted to increase, primarily from overseas and property investors.