The Leeds office market recorded two notable transactions during the third quarter of 2026 (Q3), and a new prime rent for the out-of-town market.
According to the Leeds Office Agents Forum (LOAF), city centre office take-up reached 138,210 sq ft across 30 deals in Q3 2026, representing a 12% decrease on the same period in 2025, when 33 deals were recorded.
The quarter’s largest deal was the letting to the Bank of England, who acquired 48,750 sq ft from Evans Property Group at Capitol House, Bond Court. Overall activity continued to be driven by smaller occupier requirements, with 80% of all city centre deals under 5,000 sq ft.
Jill Goodman, principal and managing director of lease advisory and head of regional office agency at Avison Young, said: “This quarter, we continued to see occupiers active in the Leeds market, particularly for smaller requirements.
“The most significant deal was the Bank of England’s commitment to a new office in Leeds, which is testament to the city’s strong talent pool and the quality of life our wider region provides.”
The out-of-town office market saw take-up reach 59,407 sq ft across 15 deals, an 11% decrease compared with Q3 2025.
The largest transaction was the 19,517 sq ft letting to Klipboard at White Rose Park from landlord Munroe K Luxembourg. White Rose Park also set a new out-of-town prime rent of £26.00 per sq ft during the quarter, with the letting of 6,000 sq ft to Valeo Confectionery at Building 3.
Smaller requirements again accounted for the majority of activity, with 73% of all out-of-town deals involving less than 5,000 sq ft.
Matt Procter, associate director, office advisory at LSH, added: “The high proportion of smaller transactions demonstrates where much of the current demand is concentrated, and well-located, good-quality space remains important in attracting occupiers.”
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.
