In consecutive months during the summer of 2015, Leeds’ local economy was boosted by property investment. Heeton Holdings, a Singapore fund, made its first UK investment outside of London in the Yorkshire city.
In August, Insurance Group Legal & General, invested £162m in project to build a neighbourhood on the edge of the city.
Like in the residential property market, demand is high for prime rental office space in the UK’s main regional cities. Growth across such markets have experience an average increase of 4.3% in the year to June 2015.
Property consultants JLL’s data reflects a solid outlook for the next 12 months for demand and tight supply of new space.
“Sustained levels of occupier demand combined with the decreasing availability of Grade A office supply has contributed to healthy rental growth with year on year increases witnessed in all bar one of the core eight cities,” said Jeremy Richards, dead of national office agency at JLL.