Workplace take-up throughout the UK has reached its highest stage in three years, in response to new figures from CBRE. The full for the twelve months to the tip of the second quarter of 2025 stood at 20.3 million sq. ft, the best rolling annual determine for the reason that third quarter of 2022. CBRE experiences that exercise was strongest within the first half of 2025, with occupiers persevering with to deal with prime quality, well-located area. The agency says demand is being pushed by a mix of enterprise enlargement, lease occasions, and the will to safe the perfect obtainable inventory in a aggressive market.
The South East of England recorded 1.4 million sq. ft of take-up within the first half of the 12 months, its highest half-year whole since 2019 and three p.c larger than the identical interval in 2024. Within the first quarter alone, UK-wide take-up reached 1.3 million sq. ft, round 4 p.c above the five-year quarterly common.
CBRE notes that demand for prime area stays sturdy regardless of persevering with structural modifications in occupier behaviour, together with hybrid working patterns. The agency factors to a scarcity of newly constructed and refurbished workplaces in lots of markets, which is contributing to competitors for the perfect buildings.
In London, take-up within the Metropolis, West Finish and Docklands mixed reached 5.5 million sq. ft over the twelve months to the tip of June. This is a rise of 13 p.c in comparison with the identical interval in 2024. Pre-letting accounted for a big proportion of transactions, with a number of giant offers in buildings nonetheless underneath building or refurbishment.
Whereas the general stage of exercise stays beneath the long-term pre-pandemic common, CBRE means that the market is displaying larger stability than lately. The emphasis on high quality and sustainability continues to affect occupier choices, with buildings providing sturdy environmental efficiency attracting the best curiosity.
The agency’s evaluation signifies that additional enchancment is feasible within the second half of the 12 months, though the provision of appropriate area and broader financial situations will stay key elements in figuring out the tempo of restoration.
