Cardiff Office Market Dynamics, Q1 2026

Q1 take-up was down quarter on quarter and reached 38,770 sq.ft. which was below the five-year quarterly average of 64,875 sq.ft.

Prime rents were stable at £30.00 per sq.ft. with incentives at 15 months rent-free on a 10-year term, although prime rents remain under pressure.

The development pipeline remains muted although one 70,000 sq.ft. major refurbishment started on site during Q1.