Regional office take-up ready to increase by 17pc

The take-up of regional office space is expected to rise by 17 per cent next year, driven by a return to lettings over 50,000 sq ft, according to a new report.

By The Newsroom

Published 7th Nov 2013, 08:46 BST

Regions that have already seen a rise in take-up include Birmingham, which has recorded a 128 per cent increase so far in 2013 compared with 2012 and Leeds, with a rise of 107 per cent.

Paul Fairhurst, head of Savills Leeds, said: “We have not only seen a large number of requirements in the regions move forward this year, but anecdotally there is a widespread sentiment that UK businesses are doing better and that headcount growth, leading to an increase in the level and size of new enquiries, is going to come forward shortly.”

More traditional office occupiers are showing some bounce back with 28 per cent of Leeds take-up from the professional sector.

However, the technology, media and telecoms sector, which has seen exceptional growth in Central London, has also gained momentum in the regions, accounting for 34 per cent of take-up in Leeds.

Birmingham Leeds