The Leeds office market recorded a strong rebound during the second quarter of 2026 (Q2), with both the city centre and out-of-town markets reporting significant year-on-year growth in occupier activity.
According to the Leeds Office Agents Forum (LOAF), city centre office take-up reached 179,898 sq ft across 23 deals in Q2 2026, representing a 113% increase on the same period in 2025.
Activity was boosted by the 71,572 sq ft freehold sale of Livingstone House to Luminate Education Group and the 39,468 sq ft letting at Broad Gate to Greencore. However, the market continued to be driven by smaller occupier requirements, with 74% of all city centre deals involving space requirements of less than 5,000 sq ft.
Despite the strong second quarter, Leeds city centre take-up for the first half of the year totalled 214,234 sq ft, compared with 326,463 sq ft during the same period in 2025.
Alex Hailey, senior director at CBRE, said: “Q2 marks a welcome return to more positive market conditions after a slow start to the year. Occupiers are regaining confidence and moving ahead with decisions that may have been delayed earlier in the year. The continued strength of smaller transactions also highlights the depth of demand in the Leeds market, with businesses remaining active when the right space becomes available.”
The out-of-town office market also performed strongly, with take-up reaching 88,041 sq ft across 25 deals during the quarter, up 79% on Q2 2025.
The largest transaction was the 41,503 sq ft freehold sale of 2 Savannah Way to Optimum Medical, while the largest letting was 7,500 sq ft at 3200 Thorpe Park to DP Assured. Demand for smaller suites remained a key feature, with 52% of all transactions involving units below 1,000 sq ft.
This strong Q2 2026 performance lifted first-half out-of-town take-up to 137,286 sq ft, broadly in line with the 136,503 sq ft recorded during H1 2025, highlighting the resilience of the out-of-town market.
Sam Jamieson, director at JLL, added: “Looking ahead, we expect demand to remain focused on well-located, high-quality accommodation, with a healthy pipeline of enquiries providing grounds for cautious optimism for the remainder of 2026.”
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.
