Leeds office market posts strong Q2 recovery
Occupier activity has increased across both the city centre and out-of-town markets, according to the latest figures from the Leeds Office Agents Forum.
City centre office take-up reached 179,900 sq ft across 23 deals during Q2 2026, up 113% on the same period last year.
The quarter was boosted by the 71,5600 sq ft sale of Livingstone House to Luminate Education Group and Greencore’s 39,470 sq ft letting at Broad Gate.
Smaller occupiers continued to underpin activity, with almost three-quarters of city centre transactions involving requirements of less than 5,000 sq ft.
Despite the strong quarter, first-half city centre take-up totalled 214,200 sq ft, down from 326,460 sq ft during the first six months of 2025.
The out-of-town market also saw a rise in activity, with take-up reaching 88,000 sq ft across 25 deals, representing a 79% increase year on year.
The largest transaction was the 41,500 sq ft sale of 2 Savannah Way to Optimum Medical, while DP Assured agreed a 7,500 sq ft letting at 3200 Thorpe Park.
Out-of-town take-up for the first half of the year reached 137,290 sq ft, broadly in line with the 136,500 sq ft recorded in the same period of 2025, reflecting continued resilience in the market.
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.
Alex Hailey, senior director at CBRE, said: “Q2 marks a welcome return to more positive market conditions after a slow start to the year.
“Occupiers are regaining confidence and moving ahead with decisions that may have been delayed earlier in the year.
“The continued strength of smaller transactions also highlights the depth of demand in the Leeds market, with businesses remaining active when the right space becomes available.”
Sam Jamieson, director at JLL, added: “Looking ahead, we expect demand to remain focused on well-located, high-quality accommodation, with a healthy pipeline of enquiries providing grounds for cautious optimism for the remainder of 2026.”
