Regional office occupancy up on pre-pandemic levels
Office occupancy across the regions is now ahead of pre-pandemic levels, according to a new survey from regional office investor Regional REIT.
The investor found that active office occupation had increased to 75.3%, up from 71.4% in February 2024, and was now above the pre-pandemic active occupancy, which was estimated to be around 70%.
It found that most employees across its 112-building portfolio were in the office at least four days a week.
Office occupancy across the regions is now ahead of pre-pandemic levels, according to a new survey from regional office investor Regional REIT.
The investor found that active office occupation had increased to 75.3%, up from 71.4% in February 2024, and was now above the pre-pandemic active occupancy, which was estimated to be around 70%.
It found that most employees across its 112-building portfolio were in the office at least four days a week.
Stephen Inglis, asset manager at Regional REIT, said: “Our latest annual survey further confirms the significant and increasing role that ‘the office’ plays in ongoing business life, further building on the positive trends that we observed in our previous tenant surveys.
“An increase in active occupation, in tandem with employees back in the office for an average of four days per week, demonstrates a clear positive trend and an encouraging backdrop for the regional office market. This will over time result in improving demand for office space and, with limited supply, result in improved occupancy in the UK office markets and rental growth.”
Regional REIT’s survey results were based on a 74.5% response rate (by rent), with more than 28,000 employees taking part.
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