Cambridge office market round-up
Above-average take-up being boosted by larger transactions
Office take-up in Cambridge reached 263,000 sq ft in H1 2026, representing a 16% increase on H1 2025 and 53% above the five-year half-year average.
Notably, eight transactions exceeded 10,000 sq ft, the highest half-year total above this threshold in the past five years.
The largest Q2 2026 transaction was Gilead’s acquisition of 27,000 sq ft at One Granta, Granta Park. The pharmaceutical company has decided to remain on the park but will vacate the Flowers Building.
Leasing activity continues to be concentrated in the out-of-town market, with this submarket accounting for 93% of take-up in H1 2026. There was only one letting above 10,000 sq ft in the city centre submarket, where Nvidia leased 11,000 sq ft at 10 Station Road.
Hybrid buildings are appealing to science and innovation occupiers
Technology and pharmaceutical occupiers continued to dominate office take-up, accounting for 90% of activity in H1 2026.
These occupiers continue to seek flexible buildings that can support a range of accommodation needs, including both office and wet/dry laboratory uses.
Certain tenants in these sectors are also reluctant to relocate from existing submarkets, so ‘push the envelope’ for buildings to be able to adapt to changing property requirements.
One Granta, for example, was designed for wet lab use but was taken by Gilead for office use.
Nobody should be surprised by current suppressed occupier interest in considering a move, whatever the trigger, but with every shake of the globe, everyone adjusts, and so we expect some renewed drivers of confidence to emerge in H2.
Mark Taylor, Head of Commercial Agency
New developments will set new rental tones
Prime headline rents remained static in Q2 2026. But the ongoing flight to quality in the market from occupiers, combined with the shortage of available Grade A space, is expected to result in new rental tones being set on current office developments under construction in both the city centre and out-of-town submarkets.
Grade A supply falls to lowest level in over five years
Total office supply currently stands at 898,000 sq ft, reflecting a 1% decrease since the end of 2025. The proportion of supply being Grade A standard continues to fall, with only 28% of total market supply being of this standard. This is the lowest proportion in the last five years.
The majority of available Grade A space is catered to accommodating smaller requirements. There are only three available Grade A office buildings that can offer over 20,000 sq ft of landlord space. The largest being 10 Station Road, where 39,000 sq ft is being marketed.
The depth of the science and innovation ecosystem within the market area has boosted developer confidence. There is 568,000 sq ft of office space currently under construction, which is the second-highest volume across all regional office markets.
Find out more about Cambridge's property market here.
Interested in other areas of the UK?
View all of our latest H1 2026 occupational office data research here.