Leeds office market 'bucks trend' - commercial mortgages

04 August 2008

In news that may interest those with commercial mortgages, a study has found that the office market in the heart of Leeds has held up far better than the UK market as a whole.

A report by consultancy King Sturge said the city had seen a take-up of 265,000 sq ft in the first half of this year, putting it on course to hit the ten-year average of 550,000 sq ft, the Business Desk reports.

Head of office agency at the firm Richard Thornton stated that while the UK picture was "mixed" overall, "the Leeds city centre market currently remains buoyant with deals being done, particularly among the financial and legal sectors".

He added that there is also "room for optimism" for the rest of the year.

Further positive news about the commercial property sector, Scottish Widows has lifted an embargo on redemptions from its property fund.

This and the establishment of a £30 million commercial property investment fund by Hunter Property Fund Management are both positive signs for the sector, the Scotsman reports.