The take up of offices in Sheffield shot up by almost 50 per cent in Sheffield for the last three months of 2011, despite the lack of any new office development.
According to Rob Darrington, from the Sheffield office of property consultants Lambert Smith Hampton, 90,357 sq ft of office space was let between the start of October and the end of December, compared with 45,118 sq ft in the same period of 2010.
More than half the space take up was accounted for by Sheffield-based internet service provider PlusNet’s decision to consolidate its operations in the city and move in to 53,000 sq ft at The Balance, on Trippet Lane.
Take-up for the year rose from 238,054 sq ft to 350,410 sq ft.
“It’s encouraging to see that occupier take-up has risen to an all time five year high, despite the prevailing economic conditions, lack of grade A office space and new build development in both Leeds and Sheffield,” said Mr Darrington.
Prime rents in Sheffield city centre remained at £20 per sq ft in the last quarter.