Colliers International UK Offices Research

Keep up to date with the latest real estate research with Colliers International UK's office property market reports.

• Central London Offices, Q1 2012  (PDF 373 KB)
  Despite a fall in overall take-up across Central London, absorption of office space continued to be positive with vacancy rates steady or declining across all submarkets.
• Glasgow Net Stock Absorption, February 2012  (PDF 373 KB)
  2011 saw office net stock absorption record a very modest fall for central Glasgow city offices. Despite a rise in take-up in the second half of 2011, a strong element of market churn has meant that occupation declined in the City Core.
• Edinburgh Net Stock Absorption, February 2012  (PDF 256 KB)
  2011 saw Edinburgh City Core experienced healthy absorption of offi ce space, despite a modest fall in annual take-up. Overall, occupation of office space in the City Core increased by 266,833 sq ft helping to raise overall occupancy to 89.2%, the highest level since 2007.
• Birmingham Net Stock Absorption, February 2012  (PDF 309 KB)
  Grade A product in Birmingham continues to be absorbed at a healthy rate. Grade A net stock absorption of office space in 2011 reached 204,418 sq ft. This means that 744,833 sq ft of Grade A space has been absorbed in Birmingham over the past three years.
• Bristol Net Stock Absorption, February 2012  (PDF 317 KB)
  Bristol office net stock absorption was negative during 2011 as occupation fell by 166,459 sq ft. Much of this can be attributed to the release of second-hand space onto the market, which is not being absorbed at the same rate as Grade A product. Grade B occupation fell by 304,084 sq ft in 2011.
• Leeds Net Stock Absorption, February 2012  (PDF 319 KB)
  Leeds has seen a healthy absorption of all grades of office space during 2011. Grade A absorption reached 149,480 sq ft across Leeds CBD compared to 90,381 sq ft in 2010. Overall, absorption for all grades of space rose dramatically in 2011. While occupation levels fell by 293,213 sq ft in 2010, 2011 heralded a strong recovery, rising by 208,478 sq ft.
• Manchester Net Stock Absorption, February 2012  (PDF 275 KB)
  Despite remaining at relatively modest levels, Grade A net stock absorption of office space in Manchester continued to increase in H2 2011. During 2011, Grade A occupation increased by 89,482 sq ft across all submarkets. Although that figure was substantially down on 2010 (459,447 sq ft), occupation of Grade A space across Manchester rose above 80% for the first time since 2007. Total occupation across all grades of space is at a three year high (83.6%).
• Central London Offices, Q4 2011  (PDF 442KB)
  In spite of a fall in take-up, vacancy fell once again across all submarkets as a lack of new supply continued to underpin positive absorption. Total availability fell by 10% in Q4. Grade A vacancy now stands at 7.9%, down from 10% in 2009. 
• West End Office Occupier Outlook, December 2011 (PDF 287 KB)
  Overall, West End vacancy has remained unchanged over the past few months as transactional activity for built space has slowed. Major pre-lets to Camden Council and Debenhams have eaten into pipeline space whilst take-up of existing product fell by 30% in Q3 2011. Generation Investment Management has also taken 23,000 sq ft at AirW1.
• South East Offices Snapshot, November 2011  (PDF 290KB)
  Total M25 availability fell for the second successive quarter to stand at its lowest level for 12 months. Take-up surged in Q3 2011 rising by over 100% quarter on quarter. Q3 take-up totalled 1.2 million sq ft, which was the highest quarterly take-up since Q4 2010.
• Central London Offices, Q3 2011  (PDF 425KB)
  In the face of worsening economic conditions, Central London office availability remained flat in Q3 2011. This is the first time quarterly vacancy has not fallen since Q3 2009. The vacancy rate remains at 7.7%.
• Glasgow Net Stock Absorption, September 2011  (PDF 385KB)
  The Glasgow office market has experienced modest take-up during the fi rst half of 2011. Transaction levels for H1 2011 reached 153,669 sq ft which was 27% down on the previous six monthly total. Take-up in the City Core fell by 29% as major deals were focused on the out-of-town market.
• Birmingham Net Stock Absorption, Summer 2011  (PDF 152KB)
  2011 has exhibited a modest but steady improvement in overall market conditions in the Birmingham office market. Demand remains sluggish across most UK regional office markets but the Birmingham CBD recorded its highest quarterly take-up for nine months.
• Leeds Net Stock Absorption, Summer 2011  (PDF 399KB)
  As predicted in our previous publication, Leeds has seen a strong upswing in absorption in the first half of 2011. Total absorption rose by 141,482 sq ft, the largest increase in offi ce occupancy for four years.
• Manchester Net Stock Absorption, Summer 2011  (PDF 412KB)
  Occupation levels increased by 147,492 sq ft across all size bands meaning that total absorption of offi ce space over the past two years has reached an impressive 527,996 sq ft. 83.1% of office space in Manchester’s CBD is now occupied.
• South East Offices Snapshot, July 2011 (PDF 827KB)
  Thames Valley take-up substantially down quarter on quarter. Pronounced shortage of major deals with none reported above 15,000 sq ft.
• Central London Offices Snapshot, Q2 July 2011 (PDF 212KB)
  Net stock absorption of office space across Central London reached 1.8 million sq ft in H1 2011, resulting in a rise in occupancy across all core locations. The West End saw six month occupancy rise at its fastest rate since pre-credit crunch in H2 2005.
• Guy Grantham shares his views on the London offices market (VIDEO)
  Guy Grantham comments on what is driving the London offices market at present.
• Manchester Offices Snapshot, June 2011 (PDF 1.18MB)
  Greater Manchester, the key contributor to both GDP and employment growth in the North west region, is set to see significant upward increases in output and employment levels over the next five years.
• South East Offices Snapshot, April 2011 (PDF 824KB)
  Thames Valley take-up rose by 17% quarter on quarter. Two thirds of Thames Valley centres saw a fall in vacancy rates. Overall Thames Valley availability was down by 1.7% quarter on quarter and by 5% year on year.
• Central London Offices, Q1 2011 (PDF 116KB)
  Take-up saw a significant fall across the whole of the Central London market in Q1 2011. The main instigators of the fall in transaction levels were the City and Docklands submarkets, where quarter on quarter take-up fell by 47%. In contrast, the West End and Southbank markets experienced their highest quarterly take-up for over three years.
• Edinburgh Offices Occupier Snapshot, March 2011 (PDF 116KB)
  Edinburgh saw a marked improvement in take-up during 2010, with the City Core office market seeing a 24% rise in transaction levels year on year. 2010 offices take-up in the City Core reached 446,000 sq ft. Banking and financial services take-up, although nearly doubling year on year, was still the second lowest annual figure since 2002.
• South East Offices Snapshot, February 2011 (PDF 872KB)
  Total take-up across the South East reached 4.2 million sq ft in 2010. Annual Thames Valley take-up (2.6 million sq ft) rose by 23% year on year. Grade A take-up represented 19% of take-up in the top 20 centres. Grade B accounted for 33% and Grade C 48%. Year on year Thames Valley availability down by 3%.
• Birmingham Net Stock Absorption, Q4 2010  (PDF 228KB)
  The Birmingham office market showed encouraging signs of improvement during 2010. Net stock absorption was positive for the third half year period in succession with total occupancy increasing by 221,825 sq ft during the course of 2010.
• Leeds Net Stock Absorption, Q4 2010  (PDF 197KB)
  Net stock absorption (NSA) of office space in Leeds remained negative in H2 2010, but although occupation levels fell, the rate of decline has slowed considerably. NSA was -172,693 sq ft in H2 2010 and down by 558,310 sq ft for 2010 as a whole.
• Manchester Net Stock Absorption, Q4 2010  (PDF 138KB)
  Net stock absorption of office space in Manchester remained positive in H2 2010, as occupation levels rose by 47,912 sq ft. Grade A occupancy increased by 207,218 sq ft (5%) over the same period.
• Glasgow Net Stock Absorption, Q4 2010  (PDF 231KB)
  Glasgow saw net stock absorption of office space continue to increase at a healthy level during the second half of 2010. During 2010, occupation of office space in central Glasgow increased by 263,545 sq ft. This was in marked contrast to 2009 when occupation fell by over 100,000 sq ft.
• Central London Offices, Q4 2010 (PDF 510KB)
  Net stock absorption of office space across Central London continued its positive trend in Q4 2010 by surpassing 1 million sq ft for the third half year period in succession.
• Central London Offices, Q3 2010 (PDF 403KB)
  Total take-up accelerated in Q3 2010 reaching 3.9 million sq ft. This was the highest quarterly take-up for three years. Office take-up has surpassed three million sq ft in each of the past four quarters, a trend that last occurred pre-credit crunch in 2007.
• Central London Office Market Summary, Q3 2010 (PDF 147KB) 
  Q3 2010 saw consistent demand for office space, reaching 3.2 million sq ft. Office take-up has surpassed 3 million sq ft in each of the past four quarters, a trend that last occurred pre-credit crunch in 2007.
• National Offices Rents Map, Autumn 2010 (PDF 3.4MB)
  The latest edition of our Colliers International UK offices rents map provides information on Grade A rents for 160 key office locations nationally. Colliers UK based offices professionals utilise expert and detailed knowledge of their respective markets to provide the most comprehensive set of published prime and secondary rental value data available.
  The electronic version provides additional data on the latest Grade B ERVs as well as annual growth rates for headline rents across all 160 locations and up to date incentive data for the major UK office centres.
• Birmingham Net Stock Absorption, Q3 2010 (PDF 562KB)
  Net stock absorption remained positive in Birmingham during the first six months of 2010 underlining the growing confi dence amongst local occupiers, as well as the continued erosion of vacant Grade A stock.
• Glasgow Net Stock Absorption, Q3 2010 (PDF 909KB)
  Central Glasgow has seen a sharp turnaround in absorption levels in H1 2010 with occupation levels rising by 138,958 sq ft.
• Leeds Net Stock Absorption, Q3 2010 (PDF 572KB)
  Leeds has seen a marked decline in net stock absorption levels during H1 2010.
• Manchester Net Stock Absorption, Q3 2010 (PDF 723KB)
  The Manchester office market was boosted during the first six months of 2010 with further healthy positive net stock absorption figures.
• Central London Offices, Q2 2010 (PDF 396KB)
  Q2 2010 saw demand for office space moderate slightly but the three month total (3.2 million sq ft) was still 4% above the ten year quarterly average.
• Central London Offices, Q1 2010 (PDF 871KB)
  Q1 2010 saw demand for office space continue its upward curve across the entire Central London office market.
• Glasgow Office Market, Mar 2010 (PDF 118KB)
  Grade A product in demand but second-hand occupation levels continue to decline in wake of marked rise in availability.
• Leeds Office Market, Feb 2010 (PDF 122KB)
  Quarterly take-up reaches two year high as absorption of Grade A space continues.
• Central Birmingham Offices, Q1 2010 (PDF 122KB)
  A rise in occupation levels despite slow down in take-up and upward movement in vacancies.
• Cambridge Office Market Feb 2010 (PDF 142KB)
  A shortage of Grade A accommodation is still a major factor dictating rents in central Cambridge. With a lack of new space in the development pipeline this situation looks set to continue throughout 2010.
• Central Leeds Offices, Q1 2010 (PDF 122KB)
  Quarterly take-up reaches two year high as absorption of Grade A space continues.
• What is Net Stock Absorption? And why is it important? (PDF 86KB)
  Colliers International was the first UK real estate or property company to produce Net Stock Absorption figures for the major UK office markets. Net Stock Absorption is an analytical tool that is considered vital in the North American markets and has been established there for over three decades.
• Central London Offices, Q4 2009 (PDF 196KB)
  Occupation levels are on the rise once more with the return of expansionary take-up. The City market is likely to see significant upward movement in headline rents over the first half of 2010 with 10% growth anticipated.
• Central London Offices, Q3 2009 (PDF 184KB)
  Conversion of enquiries into deals has increased significantly with a number of signings and some other tenants stepping up. Selective shortages for 100,000 sq ft tenants seeking contiguous floors.
• Birmingham Net Stock Absorption, Q3 2009 (PDF 536KB)
  Absorption of Grade A space in central Birmingham over the past three years has been an impressive 383,514 sq ft. Over the same period, Grade A stock has risen by 33%.
• Glasgow Net Stock Absorption, Q3 2009 (PDF 762KB)
  The increase in Grade A offering has been reflected in the positive absorption levels for quality office space.
• Leeds Net Stock Absorption, Q3 2009 (PDF 572KB)
  Leeds has moved from the undesirable situation of a marked shortage of available Grade A space to current healthy stock levels once more.
• Manchester Net Stock Absorption, Q3 2009 (PDF 647KB)
  Absorption of Grade A space will be critical to the health of the Manchester occupational market over the next 12 months.
• Scottish Offices Snapshot, Summer 2009 (PDF 202KB)
  Financial occupiers in Edinburgh and Glasgow CBDs currently account for a total occupation of 3.7 million sq ft of office space.
• Central London Offices, Q1 2009 (PDF 311KB)
  Economic conditions are such that landlords and tenants off-loading surplus space are in competition to secure new tenants or retain existing income streams wherever possible.
• Leeds Office Investment Market, Spring 2009 (PDF 570KB)
  Demand will focus more than ever on the quality of income stream as well as location and product. Investors are happy to wait for the right opportunity.
• Central London Offices, Q4 2008 (PDF 148KB)
  "London is now becoming surprisingly affordable" Boris Johnson, Mayor of London.
• Cambridge Office Market, Q1 2009 (PDF 111KB)
  The key concern remains the lack of Grade A space coming to the market.
• Leeds Net Stock Absorption, Q4 2008 (PDF 568KB)
  The current Central Leeds vacancy rate of 8.6% is set to rise significantly with half a million square feet of completions set for the remainder of 2008.
• Birmingham Net Stock Absorption, Q4 2008 (PDF 531KB)
  Demand for quality large office properties has led to a rise in prime rents. The current prime is at a record level of £33 psf representing a rise of 10% since the start of 2008.
• Central London Offices, Q3 2008 (PDF 771KB)
  Construction stalls but speculative completions, especially in the City, push vacancy rates up.
• Manchester Net Stock Absorption, Q4 2008 (PDF 602KB)
  Absorption of Grade A space will be critical to the health of the Manchester occupational market over the next 12 months.
• Central London Net Stock Absorption, Q4 2008 (PDF 1,009KB)
  Completed pre-let developments have a major impact, as NSA remains positive.
• Central London Offices, Q2 2008 (PDF 600KB)
  City take-up slumps but the West End remains resilient.
• Glasgow Offices Market, Summer 2008 (PDF 353KB)
  Office availability has continued to fall with Grade A space now constituting just 16% of total marketed stock.
• Leeds Investment Market, H1 2008 (PDF 847KB)
  The uncertainty in the financing market has continued into the first half of the year which has made funding as difficult as finding suitable product to acquire.
• Bristol Investment Market, Q3 2008 (PDF 1, 076KB)
  Colliers International predicts total returns for South West offices to outperform the rest of the UK over the next two years.
• Leeds Net Stock Absorption, Q2 2008 (PDF 432KB)
  Demand has remained healthy across Central Leeds despite the mix of positive and negative absorption in the respective submarkets.
• London Net Stock Absorption, Q2 2008 (PDF 655KB)
  The City continues its strong performance as absorbption remains positive.
• Manchester Net Stock Absorption, Q2 2008 (PDF 225KB)
  Manchester saw healthy demand for office space during 2007, with overall take-up rising by over 20% year on year.
• Birmingham Net Stock Absorption Q2 2008 (PDF 207 KB)
  Occupation levels are starting to rise after two successive years of negative growth through demand for quality product.
• Birmingham Office Market Report, February 2008 (PDF 1,928KB)
  The largest recorded transaction in 2007 was the 42,000 sq ft letting to the Insolvency Service at Cannon House.
• Edinburgh Office Market, Spring 2008 (PDF 1,147KB)
  Demand for Grade A product improved markedly in 2007. Grade A space accounted for 65% of total take-up across the entire Edinburgh office market.
• Cambridge Office Market, Q4 2007 (PDF 700KB)
  Cambridge boasts excellent transport links. Its proximity to London via rail and Stansted by road/rail makes it highly attractive to both international and domestic businesses alike.
• Manchester Net Stock Absorption, Q3 2007 (PDF 1,299KB)
  Occupation of office stock has increased by 507,000 sq ft in the past 12 months. Current occupation of office space stands at 13.9m sq ft up from 13.4m sq ft in June 2006.
• Manchester Office Market Report, August 2007 (PDF 562KB)
  No move in headline rents as market remains stable.
• Central London Net Stock Absorption Q3 2007 (PDF 1,090KB)
  Central Leeds occupation of office stock has increased by over 257,000 sq ft in the past 12 months. Current occupation of office space stands at 9.1m sq ft, up from 8.9m sq ft in June 2006.
• Central London Offices Q1 2008 (PDF 500KB)
  Availability increases for the first time in four years as take-up is subdued, especially in the West End.
• Central London Offices Q4 2007 (PDF 554KB)
  The credit crunch clearly affected the second half of 2007, but the key fundamentals of the office market will ensure it remains strong.
• Central London Offices Q3 2007 (PDF 621KB)
  The appetite for pre– lets continues as availability falls further across Central London.
• Central London Offices Q2 2007 (PDF 715KB)
  The rental growth cocktail of consistent demand and shortage of grade A space continues.
• Central London Offices Q1 2007 (PDF 1,078KB)
  The central London market is quietly booming.
• Liverpool Market Report, August 2007 (PDF 894KB)
  The Liverpool office market has quietly developed into tomorrow's hot tip.
• Leeds Net Stock Absorption Q3 2007 (PDF 1,234KB)
  Central Leeds occupation of office stock has increased by over 257,000 sq ft in the past 12 months (see figure 1). Current occupation of office space stands at 9.1m sq ft, up from 8.9m sq ft in June 2006.
• Leeds Market Overview H2 2007 (PDF 1,218KB)
  Whilst we have seen a major correction in pricing during H2 2007, the market has adjusted quickly and there are already a number of investors ready to capitalise on the market.
• Leeds Market Overview H1 2007 (PDF 1,930KB)
  Total office investment transactions in Leeds city centre over the first half of 2007 have been relatively subdued compared to last year.
• Birmingham Net Stock Absorption Q3 2007 (PDF 865KB)
  Occupation of office stock has fallen by just under 350,000 sq ft in the past six months. Current occupation of office space stands at 12.3m sq ft down from 12.6m sq ft in December 2006.
• Birmingham Net Stock Absorption Q1 2007 (PDF 406KB)
  Measuring the difference in physically occupied stock between two points in time to get a clearer picutre of market trends.
• Net Stock Absorption Q1 2007 (PDF 1,215KB)
  Clear evidence of expansion-driven demand.