Knight Frank projects record office rents and falling vacancy in Glasgow
What happened
Knight Frank analyzed commercial office market trends in Glasgow, projecting that headline office rents could reach £45 per sq ft by the end of 2026. This represents a rise from the current rate of £41.50 per sq ft. Deal activity in the first half of the year lowered Glasgow’s Grade A vacancy rate by 37.5%, from 6.4% to 4%.
From heraldscotland.com
Why it matters
The market analysis indicates that occupiers are competing for a dwindling supply of high-quality Grade A office space in Glasgow city centre. This pressure on supply is driving rent increases, with office take-up reaching nearly 292,000 sq ft between January and June.
From heraldscotland.com
Who's involved
- Knight FrankConducted the market analysis on commercial office trends.
- GlasgowThe city where the commercial office market trends were analyzed.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Knight FrankSpeculative
Commercial property developers might see increased investment demand for high-quality office space.
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The entities involved
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Knight Frank
London based residential and commercial property consultancy firm
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Glasgow
city in Scotland, United Kingdom