The office and investment markets are expected to have a productive year in Yorkshire, especially in Leeds, as many businesses are expanding and relocating there.
Property experts in Yorkshire are predicting confidence to return to the commercial property sector in 2020, according to a recent article in The Yorkshire Post. Following the election result, investors and developers are expected to continue with developments and investment they had previously felt hesitant about.
Even though there is a significant amount of development already in the pipeline in Leeds, some experts are expecting supply of new office space to not be able to keep up with the strong demand. Rent for office space is expected to increase as demand continues to rise for offices in the city centre.
Some large speculative deals are moving forward, and this will likely pick up more as the impact of Brexit becomes clearer later in 2020. With this growth and investment slated for Leeds, the city is expected to have an exciting year ahead.
Best place to start a business
Leeds was recently named the best place to start a business in the UK because of the city’s skill set, affordability and great business appeal. This shows that Leeds is becoming a top business hotspot as businesses are continuing to expand their operations and many are relocating there.
As Channel 4, NHS Digital and Sky have made the move to Leeds, more creative and digital jobs keep coming to the city. This is helping to attract more professionals and businesses to Leeds and will likely bring additional growth and investment.
The exodus from London
More investment and development are expected to come to Leeds city centre as the exodus from London continues. A record number of Londoners are moving from the capital to the north of England. There are numerous reasons behind this shift to the north including property prices, jobs and quality of life, and many are moving to Leeds.
The talent pool in Leeds has grown and so have the investment prospects and attractiveness of the city. As a hotspot for businesses and professionals, Leeds is expected to continue to see rising job prospects and people coming to the thriving city.
BuyAssociation recognised the value of Leeds as a strategic property investment location many years ago. Contact us to find out more about our available opportunities or browse our property investments page.
