Summary and analysis of Western Corridor's current office real estate market conditions.
Insight
Western Corridor Office Market Dynamics, Q1 2025
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Q1 2025 take-up totalled 633,600 sq.ft. which was 50% above the 5-year quarterly average.
The manufacturing and TMT sectors were most active in 2024, accounting for 33% and 29% of all take-up respectively.
There is 432,400 sq.ft. currently under construction across the region, with 207,600 sq.ft. already pre-let.
Prime rents were unchanged over the quarter at £43.15 with growth forecast over the course of 2025.