"Greater supply and increased constraints, but demand stays diverse and occupiers remain resilient."

"With 4.3m sq ft under offer and speculative development 63% below its 2022 peak, supply conditions are set to tighten further."

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

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

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

"Supply has risen by 10% to 7.73 million sq ft, but options in quality and size remain limited."

"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."

"Transactional activity is up 49% on 2024."

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

"Build-to-suit activity returns to the market in 2025."