Leeds office market hit by slowdown in business

The market is considerably quieter in terms of active requirements and

transactions have slowed as nervousness and financial pressure act as a barrier to companies who would historically have moved or expanded.

According to CB Richard Ellis in Leeds, sentiment improved during the latter half of 2009 and there have been far more, larger requirements in circulation, however most are very slow moving.

The largest deal recorded in Leeds was at Livingstone House in Clarence Dock where Yorkshire Water leased

some 57,000 sq ft in

December 2009.

Transaction levels are down for the second year running, with 82 deals completed in the city centre during 2009. This is some 15 per cent down on 2008, approximately 30 per cent down on 2007 figures.