Leading real estate advisor
CBRE recently released its latest figures on the office markets
in Glasgow and Edinburgh during the second quarter of 2021.
Take-up in Glasgow office market totalled 118,628 sq ft in the
second quarter, an increase of almost 60% from the first quarter of
2021 and 94% from the same period in 2020. There was also 119,973
sq ft of lease regears in Q2, with many occupiers happy to
remain in Glasgow and committing to space within the city.
Current office supply sits at 1,859,455 sq ft, up some 23% from
the year-on-year figure. This is a mix of newly developed offices
and second-hand vacated space.
Andy Cunningham, senior director, CBRE (pictured), said:
"Glasgow's office market continues to bounce back strongly as
Covid-19 restrictions across the country are eased. The 118,628 sq
ft that transacted in the last quarter represents the largest
amount of office take-up witnessed in the city since the start of
the pandemic and demonstrates how confidence is returning".
"We are also aware of over 1.3m sq ft of active requirements in
the market which further emphasises Glasgow's ability to make a
strong recovery, as people eventually return to the office".