Leeds ranked in second tier of regional legal centres

LEEDS has been ranked in the second tier of regional legal centres, trailling Bristol, Birmingham and Manchester.

Analysis by property agents CBRE has shown those three cities are each home to UK Top 100 law firms that have a total of more than 750,000 sq ft of floorspace, and are “well ahead” of the rest with no other regional city reaching 500,000 sq ft.

Leeds is fifth with 476,023 sq ft, just behind Edinburgh, while Sheffield was ranked in 11th place, with 188,050 sq ft, and York 26th, with 37,587 sq ft.

Leeds was also fifth for the number of fee earners, with 1,323 – 700 behind Manchester and 500 behind Birmingham.

The report highlights the improvement in office space take-up from law firms in the Leeds market, led by 51,500 sq ft to Addleshaw Goddard , 32,900 sq ft to Squire Patton Boggs and 24,800 sq ft to DAC Beechcroft.

Volume of legal floorspace per city (source: CBRE):

Jonathan Shires, senior director of office agency at CBRE Leeds, said: “The legal sector is undergoing a period of rapid evolution and transformation. Demand is rising for legal services, but there is also greater pressure from competitors and also from clients looking for law firms to deliver greater efficiencies at lower cost.

“These combined forces are leading many companies to re-evaluate and tweak their business models and consequently to review their existing real estate footprints to make certain they are aligned with future objectives.  

“Leeds is recognised as an established legal base and with rents coming in around the £26.50 per square foot mark in comparison to some £34 in the higher tier cities of Manchester and Birmingham, it is clear for occupiers to recognise the cost benefits the city can offer.”

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