Regional office market round-up
Take-up remains robust
Take-up in the Big Six at the end of Q4 2025 totalled 1.1 million sq ft, which was down on Q4 2024; however, it was in line with the five-year Q4 average. This brought the end-of-year total to 3.8 million sq ft, which was achieved through 751 transactions, 37 of which exceeded 20,000 sq ft. Take-up was down on 2024 but was also on par with the five-year average.
Grade A and Prime take-up totalled 2.3 million sq ft, accounting for 61% of the total and the highest take-up proportion for both grades combined on record. There were 247 Grade A and Prime transactions during the year, 35% higher than the five-year average number, continuing to demonstrate the flight-to-quality that has been seen over recent years by occupiers.
Availability continues to fall
Availability at the end of Q4 2025 totalled 9.9 million sq ft, a decrease of 5% on the previous quarter. This means that the vacancy rate contracted to 10.5%, representing a decline of 60 basis points (bps). Secondary stock accounts for 53% of the total availability, while Prime accounts for just 18%.
Grade A and Prime availability total 2.8 million sq ft and 1.8 million sq ft, respectively. Grade A availability has increased by 16%, while Prime availability has continued to decline by 9%. This means that while the Grade A vacancy rate has increased, the combined Grade A and Prime vacancy rate has continued to decline by 50bps to 4.9%.
Professional occupiers continue to lead take-up /strong>
The ‘Professional’ sector was the most active in 2025, leasing a total of 972,957 sq ft and accounting for 26% of overall take-up. The largest letting of the sector was in Birmingham, where EY acquired 93,780 sq ft at Three Chamberlain Square, Paradise.
In total, there were six transactions over 40,000 sq ft within the sector, with Eversheds letting the second-largest transaction of 47,000 sq ft at the new development Kellstone in Leeds.
Another active sector during 2025 was the 'TMT' sector, leasing a total of 600,000 sq ft through 126 transactions, accounting for 16% of total take-up. The largest letting of the sector was in Manchester, where Autotrader acquired 130,000 sq ft at 3 Circle Square. Other notable lettings included Sofcat taking 35,000 sq ft at Manchester Goods Yard and Sky acquiring 26,000 sq ft at 55 Douglas Street in Glasgow.
Grade A and Prime take-up totalled 2.3 million sq ft, accounting for 61% of the total and the highest take-up proportion for both grades combined on record
James Evans, Head of National Office Agency
Headline rent
The highest headline rent achieved during 2025 was in Bristol, reaching £50 per sq ft at EQ, where Birketts secured space. Leeds also saw rental growth during 2025, with the city now standing at £46 per sq ft — up 15% from £40 per sq ft, the previous highest rent.
Across the Big Six, rental premiums are forecast to increase by an average of 26% over the next five years, based on current rental levels. Headline rents in Birmingham, Bristol, Edinburgh and Manchester are projected to reach a record £60 per sq ft by 2030, if not before.
Savills expects that if a new build pre-let were to be secured in the Big Six, this would increase headline rent in excess of £55 per sq ft within the next two years.
Interested in other areas of the UK?
View all of our latest Q4 2025 Occupational Office Data research here.