Big 6 H2 2022 Report

Latest research covering the UK's regional office markets in Birmingham, Bristol, Edinburgh, Glasgow, Leeds, and Manchester.

March 01, 2023
  • Elaine Rossall
  • Barrie David
  • Vicki Heath

Leasing activity in the Big 6 picked up pace during the second half of 2022, increasing by 19% on the first 6 months of the year. Just under 2.4 million sq ft was let, with the final quarter recording the highest quarterly leasing activity since the beginning of Covid-19 (Q1 2020).

The Big 6 vacancy rate fell for the fourth consecutive quarter to reach 5.5% by the year end. This is the lowest level since Q4 2020 and was marginally above the five year quarterly average of 5.3% but well below the 10- year average of 6.6%.

In terms of the development pipeline, the increasing focus on sustainability is evident, with five of the anticipated 2023 completions targeting a BREEAM Outstanding rating. As sustainability regulation becomes more stringent, developers will increasingly focus on bringing forward NZC offices with higher levels of certification through BREEAM or WELL for example.

Investment activity in the Big 6 office markets totalled £1.6bn in 2022. Across the Big 6 Manchester and Birmingham dominated activity in 2022. Investment activity in Manchester totalled £421m, accounting for 26% of total Big 6 off ice transactions. This was followed closely by Birmingham, where investment totalled £402m, 24% of total Big 6 office transactions.

Read more in our Big 6 office market report, available now.

Fill out this form to download report

There was an error submitting the form. Please try again. 


Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of sending you the research you have requested.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.