Leicester is one of the most important cities in the Midlands area of England. It is the county town of Leicestershire and the economic, administrative and business center of the region. It is an infrastructurally developed town with good connections to other major towns in the region like Nottingham, Worcester, Warwick, and Lincoln, to name a few. It is also an important business hub where many major companies have principal offices or significant sites.
Office Rental In The Leicester
The real estate market of Leicester is well developed. Commercial real estate is plentiful, and companies and businesses can quickly locate the right office space for their needs. Total office space transactions in 2016 reached more that 458 thousand square feet. Activity was strong, both on the side of supply and demand. The office market was one of the best performers. Although smaller transactions were more common and accounted for a bit more than two-thirds of total activity, the whole market felt a good boost.
Many prime office space locations found new tenants; we can name a few locations: former Leicester City Council offices, St. Georges Tower and New Walk. Major new companies entered the Leicester market, pushing prices a little bit upwards compare to last year.Today, Leicester can offer a lot when office space is considered. From prime, Class „A“ properties, to affordable „C“ class offices, the Leicester market has traditionally been struggling with higher vacancy rates. Increased financial and business activity in the past year or two influenced the office space market, bringing demand to a bit higher level. It still has not had a defining effect on prices, but an increase in office space prices can be expected. To conclude, Leicester was and will be the key city of the region and increased economic activity will certainly attract more companies with a need for prime office space.