The cost of prime office space continued to climb in the third quarter of 2025, rising by 0.8 percent worldwide, according to Savills’ latest Prime Office Costs report. The increase takes the total average rise in costs over the past year to 3.3 percent, with rental growth now the main factor behind the trend. Savills reports that 25 of the 40 markets it tracks recorded higher average net effective occupier costs, which include rent and fit-out expenses. While global rents increased by an average of 0.9 percent during the quarter, fit-out and associated costs were largely unchanged, rising only 0.03 percent. (more…)

The UK Cabinet Office has published updated functional guidance titled Managing Surplus Government Property, setting out how government departments should identify, evaluate and dispose of surplus real estate within the central government estate. The document was released on 10 November 2025. The guidance replaces the earlier Guide for the Disposal of Surplus Land and reflects a broadened scope, placing greater emphasis on reviewing multiple options and combining factors when considering disposal or reuse of property assets. (more…)

Office leasing activity at Canary Wharf has risen sharply this year as higher rents in other parts of London prompt more occupiers to consider the Docklands district. Data from CoStar suggests that the availability of office space at Canary Wharf has fallen to below 10 percent, its lowest level since 2018. Two years ago, vacancy stood at about 23 percent. More than 500,000 square feet of space has been leased so far in 2025, the highest level since 2019, with further deals expected before the end of the year. (more…)

The number of coworking spaces in the UK and Ireland has reached a new peak, according to new industry data, signalling the continuing shift in how offices are being used. Data from CoworkingCafe’s third quarter 2025 report show around 4,315 coworking locations across the region, of which approximately 4,048 are in the UK and 267 in Ireland. In the UK the distribution is heavily concentrated in major urban centres. Greater London alone hosts roughly 1,191 coworking sites. Manchester follows as a leading regional hub with around 120 spaces, while Glasgow and Birmingham also show significant numbers at 68 and 67 respectively. (more…)