UK office take-up reaches highest level in three years

Office take-up across the UK has reached its highest level in three years, according to new figures from CBRE. The total for the twelve months to the end of the second quarter of 2025 stood at 20.3 million square feet, the highest rolling annual figure since the third quarter of 2022. CBRE reports that activity was strongest in the first half of 2025, with occupiers continuing to focus on high quality, well-located space. The firm says demand is being driven by a combination of business expansion, lease events, and the desire to secure the best available stock in a competitive market.

The South East of England recorded 1.4 million square feet of take-up in the first half of the year, its highest half-year total since 2019 and three percent higher than the same period in 2024. In the first quarter alone, UK-wide take-up reached 1.3 million square feet, around four percent above the five-year quarterly average.

CBRE notes that demand for prime space remains strong despite continuing structural changes in occupier behaviour, including hybrid working patterns. The firm points to a shortage of newly built and refurbished offices in many markets, which is contributing to competition for the best buildings.

In London, take-up in the City, West End and Docklands combined reached 5.5 million square feet over the twelve months to the end of June. This is an increase of 13 percent compared to the same period in 2024. Pre-letting accounted for a significant proportion of transactions, with several large deals in buildings still under construction or refurbishment.

While the overall level of activity remains below the long-term pre-pandemic average, CBRE suggests that the market is showing greater stability than in recent years. The emphasis on quality and sustainability continues to influence occupier decisions, with buildings offering strong environmental performance attracting the greatest interest.

The firm’s analysis indicates that further improvement is possible in the second half of the year, although the availability of suitable space and broader economic conditions will remain key factors in determining the pace of recovery.