Leeds Commercial Property Market 2013 Insight with Rick de Blaby
The commercial property market in Leeds has been subdued in recent years, but as we enter 2013, the city is seeing what could be the green shoots of a possible recovery.
Here, MEPC Chief Executive Rick de Blaby shares his thoughts on why he thinks the city can finally look forward with confidence, after years of having little to celebrate.
“The property market has not been at its strongest since the recession hit the UK in 2008, with new builds having to be put on hold due to a lack of confidence and financial backing,” said Mr de Blaby.
“However, many of these projects are now back underway due to growing optimism within the sector.
“The new Trinity Leeds Shopping Centre is leading the way but this could potentially be the tip of the iceberg in terms of developments.
“The office space market is also picking up considerably and many major companies are beginning to realise the vast potential that the city can provide for their businesses. I’ve personally had some exciting conversations which have further enhanced my belief in the sector.
“If you look at 2014, 2015, 2016, there are quite a lot of requirements coming through with nobody adding to supply in the city. That produces some exciting market dynamics.
“I believe we will see the start of some exciting developments in 2013, with more and bigger deals being done than we have seen for a few years.”
What do you think? Let us know us know your thoughts by tweeting us @wp_leeds using the hashtag #LeedsProperty.