More than 150,000 sq ft of Leeds office deals in pipeline
The latest figures from Savills show that office take-up reached 179,900 sq ft in Q2 2026 – more than double the figure recorded during the same period last year.
More than 150,000 sq ft of office deals are currently under offer in Leeds, with further transactions expected to progress through the second half of 2026.
Quarterly take-up was also 62% above the five-year average and 60% higher than the 10-year average, taking total take-up for the first half of the year to 214,234 sq ft.
Grade A and prime offices accounted for 49% of all take-up during the first six months.
Savills said the volume of deals currently progressing through the market points to growing occupier confidence, with a wider range of new-build and refurbished workspace now available across the city.
Around 380,000 sq ft of office space is currently under construction or refurbishment in Leeds, with schemes due to complete between 2026 and 2029.
The pipeline includes the new 31 Wellington Street development, along with refurbishments at 2 Wellington Place and Princes Exchange. Space at all three schemes is already either let or under offer.
The consultancy is also tracking more than 350,000 sq ft of named occupier demand, which it expects to absorb the remaining grade A stock in the city as well as a significant proportion of the new space coming forward.
Strong demand for best-in-class accommodation is continuing to support rental growth, with headline rents now reaching £52.50 per sq ft.
The public services, education and health sector was the largest source of occupier demand in the first half of the year, accounting for 87,743 sq ft, or 41% of total take-up.
Manufacturing and industry was the second most active sector, taking 41,703 sq ft and accounting for 19% of take-up.
Savills expects legal and financial services businesses to be among the key occupiers driving activity during the second half of 2026, alongside continued demand from a broad range of other sectors.
Toby Nield, director in Leeds office agency at Savills, comments:“The headline story is not just the strong second quarter, but the volume of activity still moving through the market.
“With more than 150,000 sq ft of significant transactions currently under offer, there is a healthy pipeline of transactions that should support continued momentum through the remainder of the year.
“Occupiers are increasingly looking beyond the building itself and are buying into the wider environment around it.
“Campus-style locations such as Wellington Place and Aire Park, with their strong amenity offering and business communities, continue to attract demand as organisations focus on employee experience, collaboration and talent attraction.
“As the range of workspace available in Leeds continues to evolve, the city is becoming increasingly attractive to both existing occupiers and inward investors.”
