The Sheffield office of Knight Frank has an active involvement in more than half of all office deals concluded in the city over the first quarter of 2018.
With office take up totalling 94,000 sq ft, the KF team has been instrumental in 60,000 sq ft of the transactions making them one of the most active agents in South Yorkshire.
The figures, released by Sheffield’s economic development agency, Invest Sheffield, shows that the city had fewer office transactions than Q1 of 2017, which saw an unprecedented 170,000 sq ft transacted, but higher than the 75,000 sq ft ten-year average.
Ben White, associate at the Sheffield office of Knight Frank, said: “This is another strong performance for the commercial property market in Sheffield and a strong performance by the Knight Frank team.
“The market has exceeded the ten-year-average expectations this quarter and clearly shows that there is healthy demand for good quality office space in the city.
“Sheffield has proven to deliver a good, competitive cost base compared to other key regional cities, with high quality staff available from two universities and it is also a great city to live in, which attracts investors.
“However, we are now starting to run out of office stock due to the levels of demand which are partly driven by Sheffield’s superb location and cost, but also by the city’s ongoing levels of development both in the city, its wider transport infrastructure and its future potential.”
“We have no reason to believe that the levels of activity we are witnessing are likely to slow down for reasons other than availability of quality space.”
Notable deals for Q1 of 2018 include Spaces (Regus) taking 25,000 sq ft at Acero, Digital Campus, BT/Plusnet taking 11,100 sq ft of the fourth floor at The Balance in an expansion, 6,500 sq ft taken by Perkbox at Albion House in an expansion and Med-El taking 5,500 sq ft at Thorncliffe Business Park via a relocation.
