Cardiff office market round-up
Take-up rebounds in Q2 2026
Take-up in Cardiff during Q2 2026 totalled 256,560 sq ft, achieved through 30 transactions, 88% higher than the Q2 2025 number of transactions. Q2 take-up was significantly higher than both five- and ten-year Q2 averages. This brought the half year total to 302,952 sq ft through 51 transactions, 50% up on the H1 2025 number of transactions. Take-up was 126% higher than the same period in 2025, and up by 95% and 78% on the five- and ten-year H1 averages. It was also the highest first half in square footage since 2011.
Grade A/Prime take-up totalled 31,985 sq ft and accounted for 11% of the total, 44% higher than H1 2025. There were six transactions combined, with this 15% above the five-year H1 average.
Availability decreases at the end of Q2 2026
Availability at the end of Q2 2026 totals 1.4 million sq ft, a decrease of 11% on the previous quarter. This means that the vacancy rate has decreased by 150 basis points (bps) to 13%, the lowest since 2021. Secondary stock continues to dominate the market at 1.2 million sq ft, 87% of the total.
Grade A/Prime availability totals 192,563 sq ft at the end of Q2, remaining on par with the previous quarter. This means that the vacancy rate has also stayed the same at 1.75%, one of the lowest across the regional UK cities.
Public services, education & health dominate take-up
The most active sector in H1 2026 was the ‘Public services, education & health sector’, which acquired a total of 182,324 sq ft, achieved through 11 transactions completed. The sector accounted for 60% of the total, with Cardiff and Vale College (CAVC) acquiring the largest deal of 145,000 sq ft at St William House in Q2 2026.
Another active sector during H1 2026 was ‘Business and consumer services’, leasing a total of 33,598 sq ft, accounting for 11% of the total. There were six transactions in the sector, with Liberata UK Ltd taking the largest transaction at Building 1 Eastern Business Park for a total of 17,110 sq ft.
H1 2026 was the highest first-half period in terms of square footage since 2011, amid improving occupier sentiment.
Gary Carver, Director, Business Space
Headline rent
There was an increase in Prime headline rent in H1 2026, where rents have now reached £33.50 per sq ft at One Central Square by WPP, representing an increase of 34% on historical rental levels.
This was a significant increase for the market, which has seen increased rental growth over the past year. Savills forecasts that Prime rents could reach £35 per sq ft in 2026/2027 and exceed £39 per sq ft for refurbished space by 2028, a further increase of 30%.
Looking ahead, a rent in excess of £45 per sq ft for a secured pre-let of a new build office is also forecast by 2030, if not before.
Find out more about Cardiff's property market here.
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