Yorkshire scores in job creation

On the face of it Leeds and other towns and cities in Yorkshire have a problem in overcoming the effects of the recession. The effect can be most clearly seen in the case of Leeds where, said Jeff Pearey of Jones Lang LaSalle, take up was only 26,941 sq.metres (290,000 sq.ft.), below the ten year average. In other cities, notably Sheffield, the market difficulties have been increased by the government spending cuts.

Yet there is another side to the picture. A report from the Centre for Cities gives a glowing report on the prospects for growth in Leeds and also gives star status to Hull and Doncaster for being in the top spots (with Northampton) in reducing the claimant count in unemployment between March and November 2010. Alexandra Jones, Chief Executive of the centre, commented: “Buoyant cities like Leeds (and Bristol), which have been fast growing and have lots of private sector jobs are best placed to lead the UK’s recovery.” She suggests that these places should have new financial freedoms such as full control over the local business rate, and new powers to raise money as well as benefiting from London style mayors.

Pearey points to the healthy start up sector as well as the firmer start to the year after the tough 2010. We have had more viewings and there is a healthy level of enquiries for city centre and out of town offices.” The public sector accounts for only 10% of the Leeds office market, so the spending reductions will have less impact. “On the basis of recent evidence, we expect to have a better year in 2011, particularly as companies know this is a good opportunity for better deals,” said Pearey. A typical deal in Leeds last year was JLL letting 660 sq.metres (7,104 sq.ft.) In Evans Abstract Limited’s Capital House to Synapse Learning for its first office in Yorkshire and ninth in the UK. Evans’ Harlan Pollitt said, “I am confident this letting will kick start further activity both in this building and in our newly refurbished Minerva House (next door).”