Occupiers have prioritised high-quality, well-located new office space in recent years. However, with improvements in office sentiment and an increase in back-to-office mandates this year, signs are emerging that Manchester’s secondary office stock is regaining some traction.
London’s premier office district has been one of the bright spots in the wider office malaise of recent years. However, some parts of the West End are performing better than others, with the area hugging the Elizabeth line to the north generally attracting stronger demand than areas to the south.
The UK economy failed to grow in July amid a sharp downturn in manufacturing output, with a slowing economy set to become the backdrop to a vitally important Budget on 26 November.
Demand for office space in the trendy West End enclave of Noho is bouncing back after a challenging period, with Pinterest’s recent letting emblematic of an area in recovery as technology and media firms slowly return.
Average rates for the group segment offer some support in driving revenues, despite demand patterns being more volatile, according to the latest CoStar data.
Investors in Scottish commercial property are increasingly focusing their attention on high-quality, well-located assets which is translating into fewer, but higher value deals, according to analysis from Knight Frank.
The change of use to education has been a key theme for the office market since the pandemic. This year, some of the "mid-tier" key regional cities, such as Nottingham and Liverpool, have seen a greater proportion of education lettings than their Big Six counterparts.
It may be fair to say that the UK commercial property investment market is neither basking in the summer sun of buoyant optimism nor shivering in the winter chill of deep uncertainty. Instead, investor sentiment appears to be hovering in a mild, if somewhat breezy, middle ground.
Industrial investment in the UK capital has fallen away sharply this year as tariff uncertainty and global trade tensions have combined to end the momentum built up last year.
While millions of pounds and euros ring through the tills of the high-end boutiques of Bond Street and the Champs-Élysées each day, billions are being spent on the shops themselves, as luxury retailers seek to cement their strategic positions on two of the world’s most glamorous shopping streets for the long term.
Most of the largest nonlisted real estate investment trusts are raising more cash after three years of large-scale investor withdrawals, a sign of optimism in a sector hurt by a drop in deals and building valuations due to higher interest rates.
Arrivals from the United States into the United Kingdom have slowed since the start of the year, according to the data from the US International Trade Administration, and this is one factor impacting hotel revenue growth, especially at the upper end.
The two largest office investment transactions in Liverpool since 2017 have lifted volumes to £128 million over the year to date. This already puts investment at a four-year high, which should comfortably extend to eight years by the end of the year.
Falling vacancies and strengthening occupier demand indicate that the Bristol office market has entered the upswing phase of the next cycle. The vacancy rate, which had been rising since the beginning of 2020, peaked at almost 11% in first quarter of 2025 before falling to 10.3% in the second quarter. Forecasts suggest that vacancies will continue to fall over the coming years as demand improves and construction remains low.
Stronger demand improvements and limited supply pressures have enabled hoteliers in mostly rural domestic-led holiday destinations to drive revenue per available room growth, according to CoStar data.
The key regional out-of-town office markets have seen the strongest net demand since the pandemic started, following large lettings across the Big Six cities of Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.
Office lease renewals and re-gears spiked in Glasgow’s city core in the first half of 2025 as firms recommitted to existing offices amid exceptionally low levels of prime office supply.
With Tom Holland’s Spider-Man web-slinging through Glasgow’s skyline as the new film shoots in the city, Bothwell Street was recently transformed into a cinematic battleground. But behind the scenes, offices on the street are showing their own resilience.
The UK economy grew by 0.3% in the second quarter, beating analysts’ expectations of a more modest expansion of 0.1%. Slower growth had been factored in after the first quarter of the year recorded strong gross domestic product growth of 0.7%, driven by a rise in exports and house sales ahead of the introduction of US tariffs and a hike in stamp duty.