Glasgow office market roundup
Take-up remains robust
Take-up in Glasgow during Q2 2026 totalled 164,771 sq ft, with 38 transactions completed. Take-up was 100% above Q2 2025 and 64% above the five-year Q2 average. This brought the half-year total to 300,280 sq ft, 30% higher than the first half of 2025, and 61% up on the five-year H1 average. There were 76 transactions completed, the highest half-year total on record for Glasgow.
Grade A and Prime take-up totalled 189,504 sq ft in H1 2026, accounting for 63% of the total. The total was achieved through 17 transactions, the highest combined total on record for H1, with six of these above 10,000 sq ft.
Prime availability continues to fall
Availability at the end of Q2 2026 totals 2.17 million sq ft, a decrease of 2% compared to the previous quarter. This means the vacancy rate has also decreased and now stands at 14.1%, a decline of 50 basis points (bps). Although the vacancy remains high, the majority of this is secondary stock, accounting for 76% of the total.
Grade A and Prime availability total 284,189 sq ft and 163,989 sq ft respectively. Grade A availability has decreased by 22%, while Prime has decreased by 4%, continuing to highlight the lack of this space in the market. The Grade A vacancy rate has decreased by 60 bps to 1.9%, with the Prime vacancy rate remaining the same at 1.1%.
Public services, education & health return to the market
The most active business sector during the first half of the year was ‘Public services, education & health’, which leased a total of 102,249 sq ft across eight transactions. The sector accounted for 34% of total take-up, with the Home Office completing the largest transaction of the year so far, acquiring 80,639 sq ft at 200 Broomielaw. This was the largest transaction since Q1 2020.
The ‘Professional’ sector was also active during H1 2026, accounting for 14% of take-up by leasing 40,824 sq ft. There were 14 transactions recorded, with EY leasing the largest amount of space at G1 Building, George Square in Q2 for a total of 12,333 sq ft.
Take-up remains robust during 2026, with deal count increasing, signalling improving sentiment in the market
David Cobban, Director
Headline rent
There was no new 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 £46 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 in excess of £50 per sq ft by 2030. However, if a pre-let new build were to be secured, Savills predicts headline rents greater than £55 per sq ft over the next five years.
Find out more about Glasgow's property market here.
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