"Highest level of take-up for three years, but a further rise in supply."

"2025 take-up is 47% higher than the pre-pandemic, long-term average (2007–2019)."

"High-quality Grade A space accounts for 73% of available supply."

"Of the 2.05 million sq ft available, 52% is poor-quality Grade C space, restricting occupier options."

"A shortage of modernised stock and an absent pipeline supporting robust rental growth forecasts."

"In 2025, 34% of take-up involved newly built speculative units. Although not a majority, this would be higher if there were more supply of such quality."

"Supply has fallen by 45%, with the vacancy rate falling to 5.07%."

"Transactional activity is up 49% on 2024."

"Moving into 2026, we anticipate core buyers slowly returning to the market, with continued investor sentiment shifting from single let to multi-let (MLI) assets."

"Diversified demand and strategic commitments define 2025."