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United Kingdom Office Real Estate Market Size, Share, Growth: By Type: Sales, Rental, Lease; By Real Estate Type: Dedicated Desk, Co-Working Spaces, Private Office; By Sector: IT, Manufacturing, BFSI, Consulting; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Others; Competitive Landscape; 2024-2032
United Kingdom Office Real Estate Market Outlook
The United Kingdom office real estate market size is projected to grow at a CAGR of 5.20% between 2024 and 2032.
Key Takeaways
- The real estate sector of UK employs more than 12 million people and contributes a substantial amount of EUR 1.7 billion to the UK’s GDP.
- Demand for prime office space is increasing across big five cities of UK and Central London.
- According to data by Cushman & Wakefield, in Q4 of 2023, additional 4.2 million square feet of office space were leased across Central London and the big five cities (Birmingham, Bristol, Edinburgh, Leeds, and Manchester).
The United Kingdom office real estate market growth is driven by factors such as the expansion of the service sector in the country, the development of urban areas, the emergence of flexible and co-working spaces, and the increased adoption of technology and innovation in workplaces. For instance, integration of IoT-enabled systems, digital biometrics, and integrated communication software within office spaces of the region has led to market development.
A notable market trend is customisation of office designs that prioritise employee well-being. Companies like Knight Frank UK and Workspace Group are prioritising elements such as natural light, ergonomic furniture, and dedicated spaces for relaxation after recognising the impact of a healthy environment on employee well-being and overall productivity. Also, the region is witnessing a development of suburban offices due to the rise of suburban working culture and the increasing appeal of suburban living. To meet this demand, businesses are exploring office spaces outside city centres to provide employees with proximity to residential areas, which can propel the United Kingdom office real estate market growth.
Furthermore, the availability of flexible or shorter leases, including coworking spaces and serviced offices, also promotes market development because it is appealing to startups, freelancers, and businesses requiring agile and short-term solutions, as it allows them to adjust their office space in response to changing needs. The market can also be segmented based on IT, manufacturing, BFSI, and consulting sectors, where the IT sector has significantly contributed to the growing United Kingdom office real estate market share due to its high demand for offices that are well equipped with advanced technology devices, secure communication applications, and high-speed (5G) internet, which helps the IT companies in their work operations.
Market Segmentation
United Kingdom Office Real Estate Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
| Market Breakup | Categories |
| Type | Sales, Rental, Lease |
| Real Estate Type | Dedicated Desk, Co-working Spaces, Private Office |
| Sectors | IT, Manufacturing, BFSI, Consulting |
Competitive Landscape
Market players are providing office spaces with customised and smart features to cater to evolving industry landscape.
- Savills plc
- CBRE, Inc.
- Colliers International Property Consultants, Inc.
- Knight Frank Group
- Workspace Group PLC
- CSB Business Advisory Services Limited
- Land Commercial Surveyors
- Fora Space Limited
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Real Estate Type |
|
| Breakup by Sector |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Europe Office Real Estate Market Overview
8.1 Key Industry Highlights
8.2 Europe Office Real Estate Historical Market (2018-2023)
8.3 Europe Office Real Estate Market Forecast (2024-2032)
8.4 Europe Office Real Estate Market breakup by Country
8.4.1 United Kingdom
8.4.2 Germany
8.4.3 France
8.4.4 Italy
8.4.5 Others
9 United Kingdom Office Real Estate Market Overview
9.1 Key Industry Highlights
9.2 United Kingdom Office Real Estate Historical Market (2018-2023)
9.3 United Kingdom Office Real Estate Market Forecast (2024-2032)
10 United Kingdom Office Real Estate Market by Type
10.1 Sales
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Rental
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Lease
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 United Kingdom Office Real Estate Market by Real Estate Type
11.1 Dedicated Desk
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Co-Working Spaces
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Private Office
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 United Kingdom Office Real Estate Market by Sector
12.1 IT
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Manufacturing
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 BFSI
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Consulting
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Knight Frank Group
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Savills plc
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 CBRE, Inc.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Colliers International Property Consultants, Inc.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Workspace Group PLC
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 CSB Business Advisory Services Limited
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Land Commercial Surveyors
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Fora Space Limited
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Europe Office Real Estate Market: Key Industry Highlights, 2018 and 2032
2. United Kingdom Office Real Estate Market: Key Industry Highlights, 2018 and 2032
3. United Kingdom Office Real Estate Historical Market: Breakup by Type (USD Million), 2018-2023
4. United Kingdom Office Real Estate Market Forecast: Breakup by Type (USD Million), 2024-2032
5. United Kingdom Office Real Estate Historical Market: Breakup by Real Estate Type (USD Million), 2018-2023
6. United Kingdom Office Real Estate Market Forecast: Breakup by Real Estate Type (USD Million), 2024-2032
7. United Kingdom Office Real Estate Historical Market: Breakup by Sector (USD Million), 2018-2023
8. United Kingdom Office Real Estate Market Forecast: Breakup by Sector (USD Million), 2024-2032
9. United Kingdom Office Real Estate Market Structure
Key Questions Answered in the Report
The United Kingdom office real estate market value is expected to grow at a CAGR of 5.20% between 2024 and 2032.
Evolving hybrid work culture, technological advancements, and the continuous demand for flexible office spaces are some of the major factors propelling the growth of the market.
Key trends aiding the market are the increasing demand for office designs that prioritise employee well-being, digitalisation of offices, and rise of suburban offices.
Dedicated desks, co-working spaces, and private offices are some types of real estate considered in the market.
Sectors covered in the market include IT, manufacturing, BFSI, and consulting.
Key players in the market are Knight Frank Group, Savills plc, CBRE, Inc., Colliers International Property Consultants, Inc., Workspace Group PLC, CSB Business Advisory Services Limited, Land Commercial Surveyors, and Fora Space Limited, among others.
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