Take-up

Take-up in Glasgow during Q3 2025 totalled 81,939 sq ft through 28 transactions, which was down on the long-term Q3 averages. However, take-up during Q1–Q3 totalled 316,092 sq ft, with take-up 12% higher than Q1–Q3 2024, and also on par with the five-year average. The number of transactions has seen an increase during the year, with 101 completed, which is 4% higher than the same period last year and 31% higher than the five-year average Q1–Q3 number. This was also the highest Q1–Q3 number of transactions on record.

Grade A and Prime take-up totalled 57,188 sq ft and 110,845 sq ft, respectively, during Q1–Q3, and was achieved through 16 transactions. Combined, they account for 53% of the total, the highest Q1–Q3 proportion since 2021.

Supply

Availability at the end of Q3 2025 in Glasgow stands at 2.1 million sq ft, a decrease of 1% compared to the previous quarter. Of the total, secondary stock accounts for 71% by totalling 1.5 million sq ft. The overall total vacancy rate has decreased by 20 basis points (bps) to 14.4%.

Grade A and Prime availability total 405,979 sq ft and 224,666 sq ft, respectively. Whilst Grade A availability has decreased by 5%, Prime has increased slightly by 3% compared to the previous quarter. The respective individual vacancy rates are now 2.7% for Grade A, a decrease of 20 bps, and 1.5% for Prime, on par with Q2.

Take-up by business sector

The most active business sector during Q1–Q3 2025 was the 'Professional' sector, which leased a total of 109,000 sq ft and was achieved through 19 transactions. The sector accounted for 35% of the total take-up, with Pinsent Masons acquiring the largest deal for a total of 31,724 sq ft at Aurora. This was also the sector's highest Q1–Q3 total take-up on record for the sector.

Another active sector during the year was the 'Business & Consumer' sector, which leased a total of 57,000 sq ft, therefore accounting for 18% of the total. The largest transaction of the sector belonged to Securi Group, which acquired 12,000 sq ft at 300 Bath Street.

Rents

There was no new increase in the Prime headline rent during Q3 2025, and it remains at £41.50 per sq ft, which was achieved in Q1 2025 at Aurora. This means that the Prime rent has grown by 28% over the last five years, and further rental growth is expected in Glasgow due to a constrained Prime supply and lack of new development, 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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