Take-up

Take-up in Glasgow during the first half of the year totalled 234,153 sq ft, and was achieved through 73 transactions, the highest half-year number of transactions on record. Take-up was 32% higher than the same period in 2024, and also 25% above the five-year H1 average.

Q2 2025 take-up totalled 83,522 sq ft, which was 7% down on the five-year Q2 average. However, there were 36 transactions done in the quarter, 40% higher than the five-year Q2 average number of transactions.

Grade A and Prime take-up in H1 2025 totalled 134,493 sq ft, therefore accounting for 57% of the total. Combined take-up was also the highest H1 total since 2018, and 132% higher than the Grade A and Prime H1 five-year average.

Supply

Availability in Glasgow at the end of Q2 2025 totals 2.1 million sq ft, a decrease of 2% on the previous quarter. This means that the vacancy rate has also decreased by 30 basis points to 14.6%. Of the total, 70% consists of secondary stock, which totals 1.5 million sq ft.

Grade A and Prime availability at the end of Q2 2025 total 427,776 sq ft and 218,464 sq ft, respectively, and combined account for 30% of the total, with Prime only accounting for 10%. Grade A availability has increased by 6% on the previous quarter, however, Prime has continued to decrease by 3%. The vacancy rates now stand at 2.9% for Grade A and 1.5% for Prime.

Take-up by business sector

The most active sector in the first half of the year was the 'Professional' sector, which accounted for 36% of the total by leasing a combined 83,629 sq ft. This was achieved through 14 transactions, with the largest being acquired by Pinsent Masons at Aurora for a total of 31,724 sq ft during Q1.

Another notable sector during H1 2025 was the 'Business & Consumer' sector, which leased a total of 35,839 sq ft through eight transactions, the largest of which saw Securi Group acquire 12,000 sq ft at 300 Bath Street.

Rents

There has been an increase in the Prime headline rent during the first half of the year, which now stands at £41.50 per sq ft and was achieved in Q1 2025. This means that the Prime rent has grown by 28% over the last five years. Further rental growth is expected in Glasgow due to a constrained Prime supply, with Savills latest projections forecasting growth to reach at least £48 per sq ft by the end of 2026. This would represent a significant 16% increase over the next two-year period. However, if a pre-let new build were to be secured, Savills predicts headline rents in excess of £55 per sq ft over the next five years.

Find out more about Glasgow's property market here.

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