2024 North East office take up figures enclosed within this market update.

Some of the key takeaways from the past year:

– Growing adoption of smart building technologies

– Increased demand for flexible & collaborative workspaces that prioritise employee well-being and productivity

– Advancements in building design and construction, incorporating sustainable and energy-efficient features

– Increased focus on health and wellness, with features like air purification systems, natural light, and biophilic design elements

– Enhanced amenities and services, such as on-site fitness centres, restaurants, and concierge services

With January 2025 coming to a close, there seems to be increased occupier confidence in the market in comparison to the end of last year. Requirements are on the rise again with leads converting into viewings.

Grade A supply is set to decrease across the next 11 months with no further new build speculative development on the horizon, increasing opportunities for existing landlords to refurbish their assets.

Reach out to the team at Parker Knights for any office advisory queries.

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