Take-up

Take-up in Cambridge for Q1–Q3 2025 reached 319,000 sq ft, which represented a 44% increase on the same period in 2024 and 22% above the five-year average. The uptick in take-up recorded can be partly attributed to good levels of activity from larger occupiers, with seven transactions recorded over 10,000 sq ft. Focussing solely on Q3 2025, there was 92,000 sq ft of take-up recorded, which was 239% above Q3 2024. The largest letting recorded was Huawei leasing 21,000 sq ft at 22 Cambridge Science Park. The technology company has relocated within the park.

Supply

Supply currently stands at 888,000 sq ft, which reflects a 15% decrease from the end of 2024. The city centre has the highest concentration of Grade A space when compared to the other submarkets within the market area. There is currently 411,000 sq ft of Grade A space available across the market, with three schemes offering over 30,000 sq ft—the largest being 10 Station Road, where 50,000 sq ft is available. The majority of available office space is Grade B quality, with 54% of supply being in this category.

Take-up by business sector

Office take-up has been dominated by technology occupiers, with this business sector accounting for 73% of take-up in 2025. Notably, there have been five transactions over 10,000 sq ft from this occupier type, with the largest being Arm expanding its footprint in the market by acquiring 96,000 sq ft at The Optic, Peterhouse Technology Park. The concentration of technology occupiers in the market has been evident from the number of lettings recorded from the sector, with 22 transactions occurring in the first three quarters of the year. This total was 83% above the next most active business sector, professional services.

Rents

The prime office headline rent currently stands at £65 per sq ft, which has been achieved within the city centre. This rental tone was set at Brooklands, which is a 67,000 sq ft new self-contained office campus across two buildings. The aforementioned Arm letting at The Optic set a new prime rent for the out-of-town market, where £48 per sq ft was achieved. Looking forward, the rental tone for the city centre is set to be lifted by Botanic Place, which is currently under construction and set to achieve practical completion in 2028.

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View all of our latest Q3 2025 Occupational Office Data research here.