Office take-up across EG’s six key regional cities spiked 142% year-on-year, as two mammoth government deals helped boost Q3 figures.
Wellington Place in Leeds and Birmingham’s Arena Central saw 378,000 sq ft and 239,000 sq ft respectively go to government bodies in the largest two lettings in the key city centres in the past five years.
Despite the strong letting performance, availability for the six cities eased slightly from 12% to 12.4% due to an increase in second-hand availability in five of the six cities.
This dynamic has not yet had a direct impact on rental tone, with headline rents either remaining steady or, in the case of Bristol, increasing.
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