Take-up in H1 was 16% below the same period in 2024 - partly reflecting occupier uncertainty and the increasing trend to regear.

The market is characterised by a lack of speculative development. As at Q2 there was only one speculative scheme under construction, a 59,900 sq. ft. refurbishment due to complete in early 2026.

Prime rents increased to £49.00 per sq. ft. in Q2 and pressure is intensifying to be the first regional market to achieve £50.00 per sq. ft.