Increase in bids for office space

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Take-up in the Sheffield office market is on the rise, with an increase of more than a third compared with the same period last year, according to research by Knight Frank.

Data from the commercial property agent’s Regional Office Market Presentation for quarter three of 2013 reveals take-up was up 34 per cent on the same period last year and 49 per cent higher than the previous quarter of this year.

The total take-up for this year so far - 192,188 sq ft – is also 16 per cent higher than for the whole of the first nine months of 2012.

Knight Frank partner Tim Bottrill said: “Sentiments have improved, optimism is returning and we are seeing increased activity, with particular interest in the city centre market.

“The owners of The Balance on Trippet Lane have recently refurbished the sixth floor, creating a series of small, well-appointed suites, which are proving popular with a number of viewings and terms out to interested parties.

“While available space in prime locations remains limited, these active requirements are currently focusing on both existing stock as well as potential new build schemes.”