The Yorkshire and Humberside region has performed in-line with national averages in the office and industrial sectors – with current rates of demand giving 3.2 and 2.9 years’ worth of currently-marketed stock, according to figures from Radius Data Exchange.
Only two regions have more industrial space currently under-offer than Yorkshire, and so including that space which is due to imminently transact within the industrial analysis would, in fact, put the region slightly ahead of the national average.
Leeds is the anchor for Yorkshire’s office market – and occupier activity has been strong in the city over the last year – with take-up volumes more than doubling in comparison to the previous twelve months.
The strong performance across both of these markets has seen developer interest intensify in the region over the last year.
Permissions for office space are up 71% in comparison to the previous year – an increase beaten only in the neighbouring North-East region; while for industrial spaces, 21% more square footage has come through the planning system.
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