Grade A office squeeze imminent

Development activity in Leeds has clearly reduced

Leeds faces a squeeze on Grade A office space as take-up outstrips supply, according to a local property expert.

Speaking at a CB Richard Ellis client seminar, Michael Porter, the company’s director of valuation in Leeds, said: “There is very little Grade A space available in the city centre. Development activity in the city has clearly reduced and all but ceased.

"Schemes will progress but only providing there are sufficient pre-lets and funding in place.”

Porter said the lack of supply was likely to stimulate rental growth in the medium to long term.