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INSIGHTS

National Office Moves

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OVERVIEW

National Office Moves 2025External Link provides comprehensive analysis of the evolving UK regional office market, focusing on occupier relocation trends across the Big Five cities — Birmingham, Bristol, Edinburgh, Leeds, and Manchester — as well as the South East throughout 2024.

As regional office markets continue to adapt to shifting occupier needs, this report offers fresh insights into where businesses are moving, the types of occupiers driving activity, and the kind of office space being targeted.

Based on an in-depth review of 3.8 million sq ft of office leasing transactions over 5,000 sq ft, National Office Moves 2025 examines a range of indicators including relocation type, geography, occupier sector, and deal size. The report delivers commentary and intelligence for developers, investors, and occupiers navigating a changing market shaped by expansion, consolidation, and the ongoing shift toward premium workspaces.

National Office Moves applies our market-leading London Moves methodology across the UK (outside of London) to increase understanding of the who, what, where and why of office moves. 

Read the full report and get in touch to explore how this data can work for you.

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READ THE FULL REPORT

“The inaugural edition of National Office Moves delivers a detailed, deal-by-deal analysis of the national office market, offering data-backed evidence for trends we've seen firsthand, such as occupiers gravitating toward high-quality space while reducing overall office footprints. It also uncovers some more surprising findings, including a greater number of occupiers opting to upsize, and signs of expansionary activity across the Big Five regions. The report strengthens Cushman & Wakefield’s position as trusted advisors helping clients navigate a complex and evolving office landscape.” 
Ben Cullen – Head of Offices, UK

WATCH VIDEO

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An introduction to National Office Moves 2025

Watch Joshua Woolnough, Head of National Offices Research, highlight the key themes in the National Office Moves report.

KEY TAKEAWAYS


  • Net Effect: In 2024, office moves resulted in a net contraction of 12% in occupiers’ overall footprint—equivalent to 532,000 sq ft. However, 58% of deals involved companies expanding their previous office space.
  • Expansion by region: All Big Five cities recorded a net expansion, both in the number of deals and total square footage.
    In contrast, the South East saw a greater number of firms opt to reduce their office footprint, resulting in a net loss of 794,000 sq ft. This was driven by several large consolidations in the region, with all five of the largest office contractions last year all occurring in the South East.
  • Less but Better: There’s a commonly accepted narrative that office occupiers are taking less space, but of higher quality. Our data shows there’s some truth to this trend, but also reveals the whole picture is more nuanced than it may seem.

Read the full report External Link

Register to access the on-demand “Introduction to National Office Moves” bitesize webinar with this link. External Link

FAQS

The study includes office moves over 5,000 sq ft that took place in 2024 across Birmingham, Bristol, Edinburgh, Leeds, Manchester, and the South East outside of Central London.

The 196 movers showed a total net contraction of 532,000 sq ft, with firms expanding taking 0.9 million sq ft of additional space and those reducing their occupancy releasing 1.5 million sq ft of space, resulting in a 12% net reduction in space occupied.

The net contraction reflects the trend of occupiers right-sizing into spaces that better meet their new workplace practices post-COVID-19. Despite the contraction, there is a return to office sentiment across many businesses and the majority of occupiers in this study have expanded their footprint.

58% of all deals involved occupiers expanding their office footprint, compared to 42% reducing their footprint. This positive nuance indicates a greater number of firms expanding despite the overall volume contraction.

Firms are downsizing from larger footprints due to underutilization of space and the opportunity to right-size during moves. Additionally, some large occupiers are consolidating multiple sites into one to improve efficiency and space utilization.

All key regional markets recorded net expansions in 2024, with Leeds seeing the largest expansion at 100k sq ft, followed by Manchester at 83k sq ft, and Birmingham at 50k sq ft. The South East, however, saw a net contraction of 794,000 sq ft.

Sectors such as Banking & Finance, Business Services, Government & Public Sector, and Media saw net expansions, while Pharmaceutical, Manufacturing & Energy, and Insurance sectors experienced net contractions.

Yes, the trend of occupiers upgrading their space to “better” quality was reflected in the data with 78% acquiring Grade A space.

The demand for Grade A space coupled with tightening supply has led to upward pressure on rents, with average prime levels rising by 22% since Q1 2022 and up to 40% in some markets. This trend is expected to continue, although yield compression and rental growth will be required for speculative development to become viable again.

CONTACTS

Joshua Woolnough
Joshua Woolnough

Research Analyst
London, United Kingdom

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Daryl Perry
Daryl Perry

Head of UK Research & Insight
London, United Kingdom

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Ben Cullen - London
Ben Cullen

Head of Offices, UK
London, United Kingdom

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Charles Dady
Charles Dady

International Partner
London, United Kingdom

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Jonathan Thomas Leedham Birmingham
Jon Leedham

Head of Retail Logistics & Industrial
Birmingham, United Kingdom

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