Edinburgh office market round-up
Take-up remains robust in first three quarters of 2026
Office take-up in Edinburgh city centre during Q3 2026 totalled 99,901 sq ft, achieved through 29 transactions, 21% above the Q3 2025 number, while take-up was 64% above Q3 2025. This brought the Q1–Q3 2026 total to 297,286 sq ft, 15% above the same period in 2025 and on par with the five-year Q1–Q3 average.
Grade A and Prime take-up in Q1–Q3 totalled 130,800 sq ft, 4% below the five-year average. Combined, the grades accounted for 44% of the total take-up, with 19 transactions completed, 10% above the five-year Q1–Q3 average.
Increase in availability
Availability at the end of Q3 2026 totals 1.36 million sq ft, an increase of 18% on the previous quarter. This means the overall vacancy rate has increased by 220 basis points to 14.9%. Of the total availability, secondary stock accounts for 33%.
Grade A and Prime availability at the end of Q3 total 759,086 sq ft and 147,492 sq ft, respectively. Grade A has increased by 30%, while Prime has decreased by 4%, further demonstrating the continued preference for best-in-class space in Edinburgh. This means that the Grade A vacancy rate is now 8.3%, while the Prime vacancy rate has decreased to 1.6%.
Professional occupiers continue as the main driver of take-up
The most active business sector during Q1–Q3 2026 was ‘Professional Services’, accounting for 29% of take-up, by leasing a combined 86,002 sq ft. There were 15 transactions in the sector, with EY acquiring the largest at 4 & 5 Haymarket Square for a total of 36,209 sq ft. This was also the second-largest transaction on record for the sector.
Another active sector during the first three quarters of 2026 was ‘Public services, education & health’, leasing a total of 35,195 sq ft. The sector accounted for 12% of the total, with seven transactions completed. The Secretary of State for Housing, Communities and Local Government acquired the largest transaction of the sector, for a total of 19,219 sq ft at George House.
Despite difficult global and domestic economic conditions, rental levels and growth within the Edinburgh market have remained positive.
Mike Irvine, Director, Office Agency
Headline rent
There was no new increase in the Prime headline rent during Q3 2026, which now stands at £49.50 per sq ft. This was achieved in Q1 2026 at Haymarket Square, an increase of 3% on the previous headline rent of £48 per sq ft.
This means Prime rent has grown by 30% over the last five years, and further rental growth is expected in Edinburgh due to an extremely constrained Prime supply and lack of new development.
Savills latest rental projections forecast growth to reach at least £60 per sq ft by the end of 2030, if not before, representing a further increase of 21% on current rental levels.
Find out more about Edinburgh's property market here.
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