Leeds office market registered its biggest deal of the last five years in 2009. Despite the fact that the overall take up of office space declined from the average take up in last ten years, the trend has witnessed significant improvements.

According to the CB Richard Ellis publication, the Leeds Offices Market View, the average take up in the last decade reached up to 496,000 sq ft. However, the take up of firms to rent desk space last year were a mere of 403,800sq ft, showing a decline of around 20%.

However, the analysts pointed out that the year ended on a positive note with a number of good deals leasing out over 160,000 sq ft of office space. This is inclusive of the biggest deal in last five years that involved Yorkshire Water and Livingstone House wherein the former took up about 55,000 sq ft space in the Clarence Dock owned by the latter.

Director of the CBRE Leeds office agency, Jonathon Shires pointed out that it was Yorkshire that proved to be resilient even at the time of economic meltdown and kept up the hopes of improvement in the overall situation. The newfound economic improvements inspired the smaller start ups to come out of their cocoons and create more opportunities across the industry. It also downsized the participation of established businesses with the subleased deals.

He also pointed out that the business services sector held a major market share of the office space market in the area with over 30% of the market, closely followed by the public sector that remains to be one of the major players on the demand side.

A proposal to build a new technology hub has been approved by the Glasgow City Council. The hub, which would be known as the John Logie Baird Innovation Village, would cost $6.5m.

The area will consist of a sprawling five-storey office structure and an IT space, which will be located in the same place where the council’s previous Bell Street cleaning depot was. It is in a position to be occupied by local businessmen and entrepreneurs.

The major focus for the new hub is towards the growth of new firms, and in an effort to boost such growth, it will provide training facilities, office area and hot desks for new companies. The hub will also provide adequate support to new entrepreneurs who want to kick-start their ventures - for info on desk space to rent here and throughout the UK, click desk space.

The GO Group Chief Executive Isabell Majewsky was of the opinion that the Village, in order to maintain the economic development across the UK, will provide considerable support to investors and innovators. Majewsky also added that the creativity of Scottish people is evident in their history, and that latent creativity should be harnessed towards building successful new businesses, which was why the area was named after that great innovator John Logie Baird.

The funding of the Innovation Village will be shared among the Glasgow City Council, Merchant City Heritage Fund, The European Regional Development Fund and the GO Group. The project has already been funded to the tune of $16m by the Council via its Merchant City Business and Arts Property Strategy. The project has been receiving funding since 2001.

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