Take-up was positive across the Glasgow office market in Q2 2026, reaching 259,000 sq ft to sit 54% higher than the previous quarter and 13% above the 10-year quarterly average. This was driven by the largest office deal in Glasgow since 2022, with the Home Office occupying the 80,600 sq ft 200 Broomielaw to operate as a central hub for the Passport Office.
Office vacancy fell 44 bps to 10.7%, reflecting the withdrawal of secondary and Grade A supply with Grade A vacancy also declining to 0.9% making it among the lowest in the Big Nine. However, the refurbishment of the 95,000 sq ft Alhambra House due for 2027 will add to Grade A vacancy later in 2026.
Prime office rents held at £41.50 psf over Q2, with rent-free periods unchanged at 12 months for a 10-year lease.