The latest figures from international real estate advisor Savills show that 186 office deals were transacted in Q1 2026 across the Big 6 regional cities (Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester), which is 3% above the short-term average.
Manchester was the most active office market with 51 deals completing, while Glasgow was second with 38 deals. Manchester was also the city with the largest deal, with the entire 114,967 sq ft at Havelock being leased to a single occupier. Birmingham and Bristol both saw new headline rents of £52 per sq ft each, which represent the highest regional rents, a growth of 4% on the previous high.
Overall, take-up across the Big 6 was 836,368 sq ft, 15% below the same period in 2025 and 5% below the five-year average. The majority of the take-up was for Prime and Grade A stock, totalling 534,834 sq ft across 53 transactions, 17% above the five-year take-up average.
Birmingham saw 106,724 sq ft of space transact, up 41% on the first quarter last year. The 24 deals completed was also up on last year by 26%. Bristol saw take-up increase by 72% year-on-year to 160,364 sq ft, 23% above the five-year average. Glasgow’s total of 135,509 sq ft was 57% above the five-year average, while Manchester’s 286,222 sq ft was the highest of all cities and 25% up on the five-year average.
The most active sector during the first quarter was professional services, accounting for 173,865 sq or 21% of all deals, followed by technology and media (20%), and public services, education and health (20%).
James Evans, National head of office agency at Savills, says: “External factors continue to act as a barrier for transactional activity. Despite the lower than average take up, the higher deal count currently represents a positive. Although decision making remains protracted, we are in dialogue with several large requirements that at some point will need to transact. The much publicised lack of development and both build and specification inflation continue to feed through into strong rental growth. Landlords capable of providing a mix of product offer to include flexible and fitted space are likely to continue to take market share as businesses seek to refrain from costly cap ex projects in the short term.”
