In Glasgow, the strongest performance was in the out-of-town market during 2020 and this remained the case during Q4, as it accounted for the largest four deals, led by 29,500 sq ft to Spire at Skypark and 13,520 sq ft to Daisy Corporate Services at Hamilton International.

Total take-up in the Glasgow office market amounted to 623,105 sq ft during 2020, 328,125 sq ft in the city centre and 294,980 sq ft out-of-town, 50% and 10% below respective ten-year averages. A number of requirements remain on hold in the city centre but we are aware of some substantial active requirements including 75,000 sq ft for Transport for Scotland and a number from public sector bodies with upcoming lease events. Once occupiers have greater clarity on office use, we do expect some pent-up demand, particularly in the city centre. These requirements are continuing to evolve, but there is an underlying theme of greater flexibility and good quality offices, for which there remains a short supply.

We are likely to see an increase in grade A availability during 2021, as a number of occupiers potentially look to try and sub-let space. While there continues to be a lack of readily available grade A office stock in the city centre, developments are scheduled to complete this year. These include 300,000 sq ft at 177 Bothwell Street, where 25% remains available, as well as 94,500 sq ft Cadworks on Cadogan Street and 97,000 sq ft 2 Atlantic Square, with both fully available.

While oven ready development sites include future phases at Buchanan Wharf, The Grid, and Broadway 2, these are yet to start, and the short-term development pipeline remains constrained. Grade A supply in the medium term is likely to be further delivered through refurbishment space, with Onyx on Bothwell Street already under construction and 6 Atlantic Quay, 200 Broomielaw, 200 Renfield Street and 50 Bothwell Street all due to kickstart during 2021. The story of tight supply is the same in the out of town market, with little to no available space to the west of the city. In the east of the city, we expect to see continued activity at Maxim Business Park where demand has persisted throughout the turbulence of 2020.


City Centre

40,756 sq ft

Out of Town

93,523 sq ft


City Centre

£34.50 per sq ft

Out of Town

£16.50 per sq ft



1.4 million sq ft




Q3 2020




Central government


Education and training





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