UK CITIES RECOVERY INDEX

Leeds

Updated: 16th February

UK CITIES RECOVERY INDEX

Index + DART for Leeds

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Overview

The index has improved from its reading of 76 on 10th January to 82.7 on 7th February. This is the highest reading since early December last year and reflects the recovery in activity in recent weeks as the Omicron variant has subdued and guidance has changed.

UK CITIES RECOVERY INDEX

Sector Indices + DART for Leeds

Leeds Sector Indices

Commercial Activity

  • The recovery of the Commercial Activity Sector Index for Leeds has remained fairly level over the past months reading 93.8 on 7th February, very similar to the previous reading of 95 on 10th January.

Hotel & Leisure

  • The Hotels & Leisure Sector Index for Leeds has fallen back slightly from the reading of 84 last month to 74.2.

Mobility

  • The Mobility Index for Leeds has increased significantly from its reading last month of 88 to read 112.6. This reflects the recovery from the impact of the Omicron variant and measures to control it.

Residential

  • The Residential Index for Leeds has increased over the last month from 71 to 76.8 on 7th February.

Retail

  • The Retail Index for Leeds has increased over the last month to read 85.3, from a reading of 74 at the same time in January.

Return To Office

  • Office occupancy figures continue to be significantly below their pre-pandemic levels but there has been a strong over the last month from 40 to 51.2.

UK CITIES RECOVERY INDEX

National Sector Indices + DART for Leeds

A VIEW FROM LEEDS

Claire Paraskeva

Managing Director

“Leeds is back in the Premier League after 16 years and this has fuelled a feel-good factor in the city despite the challenges caused by COVID-19. The promotion of Leeds United builds on the success the city has seen over the past 2 years, having attracted Channel 4 and HMRC to take significant office space in the heart of Leeds. The city needs to continue on its trajectory as one of the largest business centres in the UK, capitalising on strengths in the professional services, banking and digital technology sectors.

Leeds’ growth prospects in these areas are at a tipping point as there continues to be a dearth of Grade A office space. Whilst prime rents are holding their own, occupiers are showing signs of downsizing requirements and offloading secondary space as the preference to work from home continues to hold ground. Encouraging people back into the centre is paramount for the Leeds City Region and there is an opportunity to re-purpose commercial accommodation to attract footfall. Promoting mixed use schemes, green corridors throughout the city and creating a greater sense of place for the younger work force will ensure Leeds and the wider region continue to offer a high quality of life for both home and office workers, great career options and excellent talent for businesses.”

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