Edinburgh office market round-up
Take-up demonstrates continued strong focus on Grade A and Prime
Office take-up in Edinburgh city centre during Q2 2026 totalled 86,848 sq ft, achieved through 26 transactions, 30% above the five-year Q2 average number of transactions, with take-up 1% above the same period in 2025. This brought the half-year total to 197,385 sq ft, achieved through 58 transactions, on par with the five-year H1 average. Take-up was on par with the same period in 2025 and was 1% above the five-year H1 average.
Grade A and Prime take-up totalled 98,497 sq ft, accounting for 50% of the H1 take-up. The total was achieved through 14 transactions, the highest half-year number of transactions since 2023.
Slight increase in availability
Availability at the end of Q2 2026 totals 1.16 million sq ft, an increase of 9% on the previous quarter. This means the overall vacancy rate has increased by 100 basis points (bps) and now stands at 12.7%.
Grade A and Prime availability stand at 582,721 sq ft and 153,675 sq ft, respectively. Grade A availability has decreased by 5% compared to the previous quarter, and Prime remains constrained, with availability accounting for only 13% of the total. The Grade A vacancy rate is now 6.4%, a decrease of 30 bps, with the Prime vacancy rate at 1.68%, one of the lowest across the regional cities.
Professional occupiers continue as the main driver of take-up
The most active business sector during H1 2026 was ‘Professional Services’, which leased a total of 69,871 sq ft, the highest H1 take-up for the sector since 2017. There were 11 transactions completed, with EY taking the largest acquisition in Q1 at 4 & 5 Haymarket Square for a total of 36,209 sq ft. This was also the second largest transaction on record for the sector.
The ‘Serviced Office’ sector was also active during the first half of the year, leasing a total of 21,945 sq ft, accounting for 11% of the total. There was only one transaction completed, which saw IWG acquire the total for the sector at Saltire Court in Q2.
Despite a somewhat subdued H1 take-up, Prime availability is at a historic low, with Prime vacancy now just 1.68%.
Mike Irvine, Director, Office Agency
Headline rent
There was no further increase in the Prime headline rent during Q2 2026, which now stands at £49.50 per sq ft. This was achieved in Q1 2026 at Haymarket Square – an increase of 3% on the previous headline rent of £48 per sq ft.
This means that the Prime rent has grown by 30% over the last five years, and further rental growth is expected in Edinburgh due to an extremely constrained Prime supply and lack of new development.
Savills latest rental projections forecast growth to reach at least £60 per sq ft by the end of 2030, if not before, representing a further increase of 21% on current rental levels.
Find out more about Edinburgh's property market here.
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