Patrick Scanlon is a Senior Director of Market Analytics at CoStar with over 25 years of experience researching, analysing and writing about commercial property. He is based in the London office and covers the London and the South of England markets....
Patrick Scanlon is a Senior Director of Market Analytics at CoStar with over 25 years of experience researching, analysing and writing about commercial property. He is based in the London office and covers the London and the South of England markets.
Previously, Patrick worked as the UK Offices research lead at Avison Young, before which he was Head of UK Offices research at Cushman & Wakefield. He also spent 13 years at Knight Frank where he was Head of Central London offices research. Patrick has produced research and analysis for some of the UK’s largest landlords, investors and occupiers. He has also advised the Prime Minister on policy for the development of London’s tech clusters.
He is a graduate of the University of Surrey and is a member of the Society of Property Researchers.
Data for Q1 2026 suggests that the London office market has remained resilient amid economic and geopolitical uncertainty, rising inflation and renewed upward pressure on borrowing rates.
An increase in activity among smaller occupiers last year drove leasing volumes in London’s Southern Fringe submarket to its highest since 2016, when leasing rose to almost 1 million square feet, ...
The gap between office construction volumes in the world’s two biggest office markets reached a record high in the second half of 2025. There was more than 16 million square feet of office space ...
The difference between the vacancy rates for Central London and fringe London office markets has risen to over 2,500 basis points as occupiers continue to prioritise location in their real estate ...
Fundamentals in London’s Southbank East submarket have strengthened materially since mid-2025, following a prolonged period of demand weakness. Leasing momentum has recovered, with BP’s recent ...
Oxford’s position as a leading centre for science, research and innovation has generated strong demand growth over the past eight years and prompted a wave of new supply. The unprecedented ...
AI adoption, the 5G rollout and supportive government policy are pushing the UK into its fastest-ever phase of data centre construction, particularly across London and the South East.
UK life sciences demand reached a new record in 2025, with laboratory leasing rising to its highest level in at least a decade. Nearly 960,000 square feet of lab space was acquired nationwide, driven ...
Occupier demand for industrial stock in the South Coast strengthened towards the end of last year as market conditions stabilised. After a weak start to 2025, leasing activity turned a corner in late ...
Office vacancies in London’s City Core fell to 9.2% at the end of 2025, their lowest level for over five years and dipping below the Central London average for the first time in more than two ...
Key industry figures gathered in Cambridge last week in the sixth and final event of a series of UK roadshows, with this one focusing on the key trends unfolding in a strengthening office market in ...
Across the UK’s regional markets, occupiers have increasingly focused on high-quality, ESG-led office buildings in city centres as they sign new deals, with sustainability commitments and regulatory ...
Key industry figures gathered in Bristol last week in the fourth of a series of roadshows, with this one focusing on the key trends unfolding in a strengthening office market in the South West.
Office leasing volumes in Bristol’s city centre reached their highest level ever recorded in 2025 after UK law firm Burges Salmon extended and renewed the lease of its Bristol headquarters at One ...
A surge in tenant demand during 2025 propelled office leasing volumes in Cambridge to their highest level since 2019. Almost 700,000 square feet of office space was leased over the course of the ...
New office construction starts in London have fallen to their lowest level since 2004 as economic headwinds and planning delays affect appetite for development.
To office market participants and observers, 2025 marked the year when the recovery finally began. Following four-and-a-half years of heavy demand losses totalling 48 million square feet across the ...
The much-discussed flight-to-quality trend has finally eased after net absorption turned positive for non-prime UK offices, defined as offices rated 4 stars or below by CoStar’s rating system. ...
The number of months that UK office and industrial investment sales spend on the market before transacting has started to fall, after reaching a four-year peak in 2025.