A 38% rise in the number of deals done sounds like a victory for Sheffield’s office market, but that number has been at the expense of size. Overall space transacted in the steel city fell 4% in the year to the end of July, as the average deal size shrunk from 6,000 sq ft in 2013 to just over 4,000 sq ft this year.
At the top of the leaderboard is Knight Frank, consolidating its win last year. The national agent echoed the city’s overall picture by doubling the number of deals it signed, but with a 20% drop in disposed space. Its largest deal, one of six in the building, was an 11,000 sq ft letting at The Balance (pictured).
The largest deal of the year was Campbell & Company’s sale of 80,000 sq ft Milton House on Charter Row, which saw the independent agent double the amount of space signed by nearest contender JLL in a single transaction.
On the up: JLL
JLL has turned around its fortunes in Sheffield with a five-fold increase in transacted space. The national agent disposed of 45,600 sq ft of space in the year to the end of July, up 552% on the same period last year, trebling the number of deals it has done. Its largest was the 11,000 sq ft letting at The Balance – one of five deals it completed in the building along with joint agent Knight Frank. As a result, its average deal size doubled this year to 7,600 sq ft.
Going down: Fernie Greaves
With a 79% fall in the amount of space disposed of in the year to the end of July 2014, Fernie Greaves is EGi’s fastest-falling top 10 agent in Sheffield. The agent signed tenants for 1,374 sq ft of space in seven deals, mustering more deals than last year but failing to notch up the size.
