Bank of England deal a highlight as Leeds take-up slips
City centre deals declined by 12% year-on-year to 138,210 sq ft in Q3, while White Rose Park claimed a new prime rent for the out of town market, said the Leeds Office Agents Forum.
According to LOAF, central take-up reached 138,210 sq ft across 30 deals in Q3 2026, representing a 12% decrease on the same period in 2025, when 33 deals were recorded.
The quarter’s largest deal was the letting of 48,750 sq ft to the Bank of England, secured in September by Evans Property Group at Capitol House, Bond Court.
Overall activity continued to be driven by smaller occupier requirements, with 80% of all city centre deals under 5,000 sq ft.
Jill Goodman, principal and managing director of lease advisory and head of regional office agency at Avison Young, said: “This quarter, we continued to see occupiers active in the Leeds market, particularly for smaller requirements.
“The most significant deal was the Bank of England’s commitment to a new office in Leeds, which is testament to the city’s strong talent pool and the quality of life our wider region provides.”
Leeds’ decentralised market saw take-up reach 59,407 sq ft across 15 deals, an 11% decrease compared with Q3 2025.
The largest transaction was the 19,517 sq ft letting to Klipboard at White Rose Park, the 26-acre tech and business campus that represents a long-term hold for landlord Munroe K Luxembourg.
White Rose also set a new out-of-town prime rent of £26/sq ft during the quarter, with the letting of 6,000 sq ft to Valeo Confectionery at Building 3.
Smaller requirements again accounted for the majority of activity in this sub-sector, with 73% of all out-of-town deals involving less than 5,000 sq ft.
Matt Procter, associate director, office advisory at LSH, said: “The high proportion of smaller transactions demonstrates where much of the current demand is concentrated, and well-located, good-quality space remains important in attracting occupiers.”
LOAF members include Avison Young, BNP Paribas Real Estate, Carter Towler, Carter Jonas, CBRE, Colliers, Cushman & Wakefield, Fox Lloyd Jones, JLL, Knight Frank, Lambert Smith Hampton, Sanderson Weatherall, Savills and WSB.
