Glasgow office market roundup
Take-up remains robust
Take-up in Glasgow totalled 135,509 sq ft at the end of Q1 2026, achieved through 38 transactions. This was 6% higher than the number of transactions recorded in Q1 2025 and 52% above the five-year Q1 average. Take-up was 8% down on the same period in 2025; however, it was 57% above the five-year Q1 average, highlighting the robustness of the Glasgow office market.
Grade A and Prime take-up totalled 80,868 sq ft, accounting for 60% of overall take-up, which was 77% higher than the five-year Q1 average proportion. There were 10 transactions during the quarter, seven more than the five-year Q1 average, with four of these exceeding 10,000 sq ft.
Prime availability continues to fall
Availability at the end of Q1 2026 totalled 2.1 million sq ft, an increase of 3% on the previous quarter. Secondary stock increasing by 7% to 1.6 million sq ft was the primary cause of the increase, with this space accounting for 75% of the total. This means the vacancy rate increased slightly to 14.5% – an increase of 40 basis points (bps).
Grade A and Prime availability stand at 365,000 sq ft and 171,000 sq ft, respectively. Grade A remains on par with the previous quarter. Meanwhile, Prime availability has continued to decrease by 24%. The Grade A vacancy rate stands at 2.5%, with the Prime vacancy rate decreasing by 40 bps to 1.1%.
Extraction & Utilities return to the market
The ‘Extraction and Utilities’ sector was the most active during Q1 2026, leasing a total of 23,914 sq ft and accounting for 18% of the total take-up. Centrica was the only transaction in the quarter, taking the full total at 2 Atlantic Quay. This was subsequently the largest Q1 take-up on record for the sector.
‘Retail & Leisure’ and ‘Public Services, Education & Health’ were also active during the quarter, leasing a total of 19,108 sq ft and 19,018 sq ft respectively, with both accounting for 14% of total take-up. The ‘Retail & Leisure’ sector had one transaction, which saw Tesco acquire 19,108 sq ft at 76 Waterloo Street.
Meanwhile, ‘Public Services, Education & Health’ had four transactions, with Scottish Ministers completing the largest deal in the sector, taking 12,043 sq ft at 58 Robertson Street.
Grade A and Prime take-up totalled 80,868 sq ft, and accounted for 60% of the total, 77% higher than the five-year Q1 average proportion.
David Cobban, Director
Headline rent
There was no increase in the Prime headline rent during Q1 2026, with it remaining at £41.50 per sq ft, which was achieved in Q1 2025 at Aurora.
This means Prime rent has grown by 28% over the last five years, and further rental growth is expected in Glasgow due to a constrained Prime supply and lack of new development, with Savills latest projections forecasting growth to reach at least £45 per sq ft by the end of 2026.
This would represent a significant 8% increase by the end of the year and is projected to reach £50 per sq ft by 2030. However, if a pre-let new build were to be secured, Savills predicts headline rents in excess of £55 per sq ft over the next five years.
Find out more about Glasgow's property market here.
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View all of our latest Q1 2026 occupational office data research here.