The Leeds Office Agents Forum (LOAF) has released its latest quarterly office data, showing that total Leeds city centre office take-up reached 625,952 sq ft in 2025, marginally below the 2024 level. However, average quarterly take-up for the year matched the 10-year average.
A total of 107 city centre deals were completed during the year. Grade A take-up in 2025 was 254,203 sq ft, which, while below the 2024 figure, showed an improving trend, with individual Grade A deals being on average over 10,000 sq ft in 2025, up on the 2024 figure of 9,600 sq ft and the 10-year average of 7,058 sq ft.
In the final quarter of the year (Q4 2025), Leeds city centre office take-up totalled 143,360 sq ft across 28 deals. The largest transaction was Northern Rail’s 20,197 sq ft letting at Three South Brook Street.
Roddy Morrison, director at Colliers, said: “Central Leeds Grade A availability fell by over 60% in 2025, the largest fall for over 15 years. The lack of current available and committed to new build development will only exacerbate this imbalance, with occupiers having an increasing appetite for high-quality, efficient, and sustainable amenity-rich office accommodation.”
The out-of-town (OOT) market recorded a strong performance, with total 2025 take-up reaching 353,390 sq ft across 88 deals, a 25% increase compared to 2024. Activity increased sharply in Q4, with 163,607 sq ft taken up across 17 deals, representing a 96% increase on the same quarter last year.
LOAF members highlighted that the three largest city centre deals of the year were secured at Aire Park and City Square House, underlining continued appetite for prime Grade A space. However, constrained supply in the city centre is making larger occupiers consider out-of-town options, with businesses such as Sharp Business Systems UK (10,200 sq ft) and Genesis Cancer Care (27,000 sq ft) completing significant Q4 2025 out-of-town deals at South Central and Thorpe Park, respectively.
Liam Ridley, senior associate director from BNP Paribas, added: “Limited availability of Grade A space in the city centre is influencing occupier behaviour. While prime offices have continued to attract strong interest, a growing number of larger businesses are turning to out-of-town locations to secure the amount of space they require at a discount to growing city centre rents.”
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.
