Cardiff office market roundup
Take-up picks up in the final quarter of 2025
Take-up in Cardiff at the end of Q4 2025 totalled 102,576 sq ft. While this was 26% below the five-year average, it was a 92% increase on the previous quarter and marked the highest quarterly total of the year. This brought total take-up for 2025 to 289,808 sq ft, achieved across 74 transactions, with two deals over 30,000 sq ft.
Grade A take-up totalled 90,736 sq ft in 2025, accounting for 31% of the total — on par with the Grade A five-year average proportion of take-up.
Uptick in availability, but Grade A remains limited
Availability at the end of Q4 2025 totals 1.56 million sq ft, an increase of 15% on the previous quarter. This means the overall vacancy rate has also increased and now stands at 14.2%. Of the total, secondary stock dominates by accounting for 87% of the total.
However, Grade A availability at the end of 2025 decreased significantly by 47% to 199,000 sq ft. This means the Grade A vacancy rate also contracted by 160 basis points to 1.8%, highlighting the limited best-in-class options for occupiers in Cardiff.
Insurance & Financial occupiers continue to lead take-up
The ‘Insurance & Financial’ sector was the most active in 2025, leasing a combined 76,150 sq ft across five transactions. The sector accounted for 26% of the total, with the largest transaction being acquired by Creditsafe for a total of 49,937 sq ft at Cardiff Gate Business Park in Q1. The company also took an additional 15,014 sq ft at Coal House in the city centre during Q4.
Another active sector during the year was the 'Professional' sector, accounting for 18% of take-up. The sector leased 51,254 sq ft across 14 transactions, with Stantec UK acquiring the largest letting, taking 9,421 sq ft at One Central Square.
The largest city centre letting of 2025 was acquired by Centrica (British Gas) at One Callaghan Square for a total of 36,770 sq ft.
Grade A take-up totalled 90,736 sq ft in 2025 and accounted for 31% of the total
Gary Carver, Director, Business Space
Headline rent
There was no increase in Prime headline rent in Q4 2025. However, an increase was recorded in Q2 2025, when rents reached £30 per sq ft at One Central Square and Hodge House, representing an increase of 20% on historical rental levels.
This is a significant increase for the market, which has seen increased rental growth over the past year. Savills forecasts that Prime rents could reach £35 per sq ft in 2026/2027 and exceed £39 per sq ft for refurbished space by 2029 — a further increase of 30%.
Looking ahead, a rent in excess of £45 per sq ft for a secured pre-let of a new build office is also forecast by 2030, if not before.
Find out more about Cardiff's property market here.
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