The Property Ticker: GPE‘s 16 Dufour‘s Place is now 71% let; Landsec eyes sale of next major London office dev; Quantum computing moves from labs to real estate as funding surges...and more

Research evidence excerpt

The Property Ticker: GPE‘s 16 Dufour‘s Place is now 71% let; Landsec eyes sale of next major London office dev; Quantum computing moves from labs to real estate as funding surges...and more

Neil Green, CFA AC Europe Equity Research

(44-20) 7134-4478 23 July 2026 J P M O R G A N

neil.d.green@jpmorgan.com

7% year-on-year to 798k sq ft, although still 4% below the five-year average. H1 UK

regional take-up reached 1.6m sq ft, down 6% year-on-year, but several markets

delivered their strongest performances in years as occupiers continued to target high-

quality office space. Aberdeen was the standout performer, with H1 take-up of 290k sq

ft driven largely by energy and utilities demand, while Cardiff recorded its best first half

since 2008 and Glasgow leasing volumes rose 30% year-on-year. Occupier demand

remained sector-specific, with professional services leading activity in Birmingham and

Edinburgh, public sector occupiers supporting Cardiff, Glasgow and Manchester, and the

technology sector driving Bristol's market. Manchester was the only Big Six city to

achieve a new headline rent, reaching £48 psf, while rents elsewhere remained stable.

Savills noted occupier sentiment remains mixed and decision-making remains slow, but

active requirements continue to support rental growth and improving market momentum

across several regional cities. (Source: CoStar)

• French apartment investment drops in first half: Just €1.2bn was invested in French

apartment properties in this year’s first half, down 42% from a year earlier, according to

data compiled by GIE ImmoStat in partnership with three other real estate organizations.

The second quarter alone posted a 65% annual decline in a climate of lingering economic

uncertainty.