Leeds Office Market Dynamics, Q1 2026

The Leeds office market had a quiet start to the year with 34,300 sq. ft. of take-up, although activity levels are expected to improve over the remainder of the year.

Total vacancy was 7.2% at the close of Q1. The development pipeline totalled 322,000 sq. ft. under construction, with 33.0% preleased.

With a high volume of lease events anticipated in 2027, demand is expected to build over the coming quarters. Prime rents will remain under pressure as good quality space becomes increasingly scarce.