Commercial Property Statistics 2025

The average cost of commercial property in England is forecast to rise by 19.15% between 2024 and 2034 (from £94 to £112 per square foot). Property across the commercial real estate market encompasses retail, office, and industrial space, and construction and management activities in this area greatly contribute to the UK economy.

With this in mind, as a market-leading commercial property insurance provider, we have created the definitive commercial property statistics report for 2025. This piece covers historic and more recent commercial property market statistics and data on the average return on commercial property, the average price per square foot, the average lease length, and more.

Top 10 commercial property statistics you need to know

In 2025, investment in the UK commercial real estate market is expected to reach £53 billion.
In 2024, the average rental cost of commercial property in England and Wales was £94 per square foot.
By 2034, commercial property in England and Wales is expected to cost £112 per square foot, on average, according to a rental forecast by Alan Boswell Group.
Offices are the most expensive type of commercial real estate to lease, with an average rental cost of £183 per square foot (2024).
East London has the most commercial property vacancies, at a rate of 14.8% (Q2 2024).
In the first half of 2024, the average planning permission acceptance rate for commercial property was 87%.
Between 2014 and 2024, commercial properties in England had an average planning permission acceptance rate of 91%.
Over the next decade, the average planning permission acceptance rate for commercial developments is forecast to range between 86% and 89%.
In 2024, the average Building Research Establishment Environmental Method (BREEAM) score (an alternative to energy performance certificates) of commercial buildings in England was 63%, between ‘very good’ and ‘excellent.’
Commercial buildings in Hassocks, West Sussex, have the highest average BREEAM score (76%, 2024).

Commercial real estate market statistics

This section explores data surrounding the commercial real estate market, looking at the value of the UK commercial property market, prime yields of UK commercial property, and more.

Value of the UK commercial real estate market

Consultants at CBRE, a global commercial real estate services and investment firm, valued the UK commercial real estate market at £1.3 trillion at the start of 2023.

Since then, the UK commercial property market has shown great strength right up until the end of 2024, with the market reporting returns of 1.1% in December (the highest monthly return rate of 2024).

For 2024 as a whole, the market delivered total returns of 7.7%. This is higher than seen in 2022 and 2023, and above the average return reported from 2000-2024 (7.2%), according to the CBRE monthly index.

Further analysis suggests that, following a year of historically low investment volumes in 2024, investment in the commercial real estate market is expected to see a continued increase throughout 2025. CBRE data predicts that investment could increase by around 15% to a total of £53 billion in 2025. This forecasted increase in investment is attributed to a rise in commercial property values, lower interest rates, and lower cost of debt.

Prime yields of commercial property, by property type

Prime yield is a measurement of the anticipated return on investment (ROI) from the highest quality properties within a specific market. Expressed as a percentage, a higher prime yield generally represents a more lucrative opportunity for potential commercial property owners, investors, and landlords.

Data from an April 2023 report carried out by Mordor Intelligence showed that retail shopping centres could be the best commercial property type for investment, offering a prime yield of 8% at the time.

Average prime yields of commercial property in the UK, by property type (2022-2023)

The Mordor Intelligence report showed that prime yields of all types of commercial property improved between April 2022 and April 2023.

Retail warehouses and provincial offices saw the greatest improvement, with the prime yield of each rising from 4.75% to 5.75%. Meanwhile, the prime yield of leisure parks and retail spaces on high streets only rose 0.25% over the same period.

Prime yields of commercial property, by major cities/hubs

When considering a sample of major UK cities, commercial properties in east London returned the highest yield, at an average of 6.75%.

Average prime yield of commercial property in the UK, by major cities/hub (Q2 2024)

Interestingly, another central London location, the West End, was found to have the lowest prime yield. West London has a prime yield of 4%, which is at least 1.75 percentage points lower than all the other major cities/hubs looked at.

Gross value added to the UK by commercial property

The economic contribution of the commercial real estate (CRE) industry comes primarily from activity like the development, construction and funding of new buildings, and the management, refurbishment, renovation, retrofit, repurposing, and maintenance of existing buildings.

Data on the commercial property industry as a whole shows that the commercial property industry added an estimated £74 billion of direct gross value to the UK economy in 2022, equivalent to 3.3% of the economy. Of this economic value added, the construction of commercial properties contributed the most, at over a third (35.3%) of the £74 billion estimate.

Gross value added by UK commercial property activity (2022)

Professional services and facilities management is the second most valuable activity, contributing around a fifth (20.8%) of CRE’s total value to the economy.

The real estate activity of commercial properties (leasing etc.) contributed 12.3% of this value, while the investment and financing of the corporate real estate market contributed 6%.

Average commercial property rent

Average rent for commercial office space in 2024

Across a sample of major UK areas, office space in London’s West End was the most expensive, at a rate of £137.50 per square foot per year, as of the final quarter (Q4) of 2023.

Rental cost of prime office space across a sample of major UK areas (Q4 2023)

Office space in east London has the lowest average commercial property rent of the London areas analysed, at £55 per square foot per year.

Outside of the capital, Bristol has the highest average commercial property rent for office space of the areas analysed, at £42.50 per square foot, per year. Comparatively, Leeds has the lowest, at £36 per square foot per year.

Average rent for commercial retail space in 2024

The average rent for prime high-street retail space is significantly higher than that of commercial office space. While, on average, a square foot of office space will set you back £58.56 per square foot per year, a square foot of prime retail space costs £431.25 per year.

Rental cost of prime high-street retail space (Q2 2023)

The average rent for commercial retail space on Bond Street, situated in London’s West End, significantly drives up the average cost of prime retail space across major UK areas, as the average annual cost of a square foot of space is £2,000 in this area.

Bond Street is the prime location for commercial retail, with space in Oxford Street (also located in the West End) costing less than a quarter than that of Bond Street, at £450 per square foot per year.

Of the major UK areas analysed, the lowest average rent for retail space was found in Bristol, where prices are just £85 per square foot per year. This is the only major area analysed not to surpass the £100 per square foot mark.

Average rent for commercial warehouses in 2024

The average rent for commercial property is lowest for the big-box warehouse category, where the average rate is just £12.45 per square foot per year.

Rental cost of prime big-box warehouse space (Q4 2023)

Big-box warehouses are those offering over 100,000 square feet. London warehouses are the most expensive, at £28.50 per square foot, per year. This is likely due to limited space available for developments of this size in the capital.

While the average rent for commercial warehouses in England is £13.44, in Scotland the average is £9. In Wales, the average is £8 per square foot, per year.

Average price of office floorspace (2004-2034)

Average price per square foot for commercial property in 2024

Across a selection of major areas in Britain, including the three main districts of London, the average price per square foot for commercial property is £60.19 per year.

Average price per square foot for commercial property, by major area (Q2 2024)

Price of commercial floorspace in England and Wales, by region (2004-2034)

By 2034, average commercial property rent across England and Wales is expected to reach £112 per square foot, a forecasted increase of nearly a fifth from 2024 (19.15%).

While the average price of commercial floorspace in London increased by 32.12% between 2014 and 2024, commercial property rent in the North West and Yorkshire and the Humber remained stagnant at £60 per square foot and £56 per square foot, respectively.

In the North East, commercial floorspace decreased marginally in price over this period, dropping from £56 to £55 – a decrease of 1.79%. The same monetary drop was seen in Wales, at a rate of -1.85% (£54 to £53).

Average price of retail floorspace (2004-2034)

In 2024, the average price of retail floorspace in England and Wales was £174 per square foot. This represents an increase of £22 from 2014 and £73 from 2004 (14.47% and 72.28%, respectively).

By 2034, the average price of commercial retail property across England and Wales is expected to reach £207 per square foot, a forecasted increase of just under a fifth from 2024 (18.97%).

Price of commercial retail floorspace in England and Wales, by region (2004-2034)

The average rent for commercial office space across England and Wales is expected to reach £221 per square foot in 2034, a forecasted increase of more than a fifth (20.77%) from 2024.

As with commercial retail space, the North East, North West, Yorkshire and the Humber, and Wales all saw a decrease in the average cost of office space between 2014 and 2024. Office space in the West Midlands also decreased in price over this period, despite not facing a drop in the cost of retail space.

Average price of office floorspace (2004-2034)

Six regions saw a decrease in the average cost of retail floorspace between 2014 and 2024: the North East, North West, Yorkshire and the Humber, East, South West, and Wales. The greatest of these decreases was reported in the North West, where the average rent for commercial retail floorspace decreased by 5.19% (from £135 to £128).

Average price of industrial floorspace (2004-2034)

As of 2024, the average commercial property rent for industrial space is £42 across England and Wales. While this is an increase of 13.51% from 2014, this figure remains far cheaper than the other types of commercial property (retail and office space) looked at in this report.

By 2034, commercial industrial floorspace in England and Wales is expected to reach an average cost of £48 per square foot, per year. That’s a forecasted increase of one-seventh from 2024 (14.29%).

Price of commercial industrial floorspace in England and Wales, by region (2004-2034)

Between 2014 and 2024, the average rent for industrial floorspace in London increased by a third (33.33%). Outside of London, the second-greatest increase over this period was seen in the North East, where rents increased by £5 – equivalent to a fifth (20%).

Industrial space is the only type of commercial property to continually increase in rental price since 2014, as both other types (retail and office) have witnessed differing levels of decreases across several regions.

Commercial property insurance statistics

Over the past few years, UK commercial property insurance premiums have risen due to factors such as extreme weather events, inflation, and supply chain disruptions. Businesses can secure the best quote by working with specialist brokers and implementing robust risk management procedures.

One tip for securing the best commercial insurance quote is to ensure your property is neither underinsured nor overinsured. Underinsurance puts you at risk of an inadequate payout if you make a claim, while overinsurance leads to unnecessarily high premiums.

It may be worth considering consolidating other business-related policies with the same insurer, especially if you have multiple properties or require additional cover, often leading to cost savings.

Wendy Burgess | Alan Boswell Group Business Insurance Manager

As most owners of commercial buildings already know, commercial property owners should take out commercial property insurance.

Whether a commercial building is used as a shop, a hotel, manufacturing premises, or an office, insurance is recommended to protect the owner from financial risk in the event of damage to the property (and, with the extended coverage options available on some insurance quotes, also from things like accidental damage, terrorism, and legal expenses).

While the commercial property cover available will vary between providers, commercial property insurance typically covers:

Property insurance: Protects the building, including features such as solar panels, as well as surrounding outdoor space.
Business interruption: Covers loss of rental income following property damage, as well as the cost of alternative premises for tenants during this period.
Engineering damage: Provides cover to the property if any machinery on-site causes damage to the property.
Property owners’ liability up to £10 million: Protects the owner in the event that a building visitor falls or is otherwise injured on the property.

As mentioned above, owners may also be able to add on a range of extra covers to their policy, including cover for things like accidental damage, terrorism, and legal expenses.

Average cost of commercial property insurance in the UK

The average cost of commercial property insurance varies based on both the type of cover and any extras chosen, as well as the function of the property. For example, manufacturing premises may be more expensive to insure than high-street shops. However, in general the rebuild cost of buildings can be used to establish typical annual premiums.

On average, owners of commercial buildings with a rebuild cost of £200,000 can expect to pay around £218 in commercial property insurance each year.

Average annual premium of commercial property insurance, by rebuild cost

Rebuild cost	Average annual premium
£200,000	£218
£500,000	£416
£1 million	£758

Source: NimbleFins

Annual premiums increase to £416 for commercial properties with a rebuild cost of £500,000.

Properties with a rebuild cost of double this (£1 million) are 82.21% more expensive to insure, at an annual cost of £758.

Other costs associated with commercial properties

As well as commercial property insurance, commercial property owners may also face a range of service charges accrued by the annual management of their commercial properties.

The table below details some of the costs that commercial property owners may also need to take into account:

Service charge category	Service charge	Notes
Sort services	Security	Employment of security professionals for the building
	Cleaning and sustainability	Cleaning of common areas, window cleaning, waste management, pest control
	Landscaping and environment	Maintenance of outdoor areas
	Marketing and promotions	Marketing of the building and/or vacant units
Hard services	Mechanical and electrical services	Planned maintenance and repairs
	Lifts and escalators	Maintenance of common and access lifts and escalators
Management	Accounting fees	Accountant fees, audit fees
	Site-management resources	Staff costs, receptionists, office costs (telephones/stationery)
	Professional fees	Landlord's risk assessments, legal fees
Utilities	Electricity	Electricity for common areas
	Gas	Gas for common areas
	Water	Water for common areas
	Fuel oil	Emergency generators
Insurance	Commercial property insurance	Basic cover for the property
	Policy add-ons	Additional cover e.g. unoccupied commercial property insurance

Source: Royal Institution of Chartered Surveyors

Some of the above costs may be passed on to tenants, or even handled directly by them, depending on the rental agreement in place.

Commercial property ownership and occupancy statistics

This section looks at data surrounding commercial property ownership and occupancy rates.

Commercial property ownership by type of investor

The latest commercial property ownership statistics show that the investor type with the greatest direct ownership of commercial property is overseas investors, who collectively owned £161 billion worth of property in 2022. This is an increase of 122% from 2006 when this investment category was valued at £72 billion.

Commercial property ownership, by type of investor (2006-2022)

Investor type	2006 - £bn	2016 - £bn	2022 - £bn
Overseas investor	72	139	161
UK collective investment schemes	62	79	84
UK institutional investors (insurance companies and pension funds)	95	79	84
UK real estate investment trusts (REITS) and listed property companies	59	74	76
UK unlisted property companies and UK private landlords	87	72	57
UK traditional estates/charities	19	23	21
UK other	24	20	31
Total	418	486	515

Source: Investment Property Forum

Historically, UK institutional investors (such as insurance companies and pension funds) were the largest direct owners of commercial property, with a £95 billion share in 2006. However, this dropped to £79 billion in 2016 – a share of around 23%. Although the monetary value held by this type of investor increased to £84 billion in 2022, this is only a share of 16% – which represents a -12% change since 2006.

The investor type which has seen the greatest decrease in commercial property ownership is UK unlisted property companies and UK private investors, with a decline of over a third (-35%). In 2006, this type of investor owned £87 billion worth of commercial property. However, by 2022, the value of commercial property owned by UK unlisted property companies and UK private investors had dropped to £57 billion (around a tenth, or 11%, of commercial property in the UK).

Average lease length for commercial property

The most recent statistics on average lease length for commercial properties indicate that the most popular lease lengths in 2022 were terms of one to five years, with half (50%) of all new leases signed for this length.

New commercial leases, by the length of lease (2022)

In general, the popularity of commercial lease lengths decreases as the lease period increases, up to the point of 20 years. However, beyond this point, leases of 21+ years become marginally more popular than leases of 16-20 years (5% versus 4%).

Average vacancy rates

Commercial real estate industry statistics indicate that, across a selection of major areas in the UK in 2024, commercial property in east London is struggling the most, with a vacancy rate of 14.8%. With an inventory of over 24 million square feet, more than 3.5 million square feet was unoccupied in the second quarter of 2024.

Average vacancy rates of commercial property, by major area (Q2 2024)

Sub-market	Inventory (Sq. ft.)	Availability (Sq. ft.)	Overall vacancy rate %
Birmingham	18,905,000	1,082,021	5.7
Bristol	14,100,000	899,732	6.4
Edinburgh	9,280,177	719,682	7.8
Leeds	13,301,879	1,397,836	10.51
Manchester	22,700,000	3,085,283	13.6
West End	114,007,900	8,160,992	7.16
City	146,113,802	14,354,549	9.82
East London	24,075,848	3,564,083	14.8

Source: Cushman & Wakefield

Birmingham commercial real estate is most in demand of the areas analysed, with only one million square feet left unoccupied in the second quarter (Q2) of 2024. This represents just 5.7% of the total inventory available (18.9 million square feet).

We discussed above how important commercial property insurance is for those who own commercial buildings, and this remains to be true even if the property is unoccupied. Please refer to our unoccupied property insurance page if you own a commercial building that is currently vacant and need to put an insurance policy in place to protect your investment.

For tips on looking after vacant commercial buildings, take a look at our guide to managing unoccupied commercial properties.

Commercial property employment statistics

Employment generated by commercial property

In the context of the commercial real estate market, direct jobs are those involved in the construction and management of commercial property, while indirect jobs are those which support these buildings through external services.

In 2023, commercial property activity in the UK generated 2.5 million jobs, of which 1.37 million were directly connected to commercial property. This combined total is equivalent to roughly one in every 13 jobs in the UK.

Direct work includes employees inside the building, such as shop workers, office staff, or restaurant servers who operate businesses within the premises.

Indirect workers are suppliers and companies that provide goods and services to the occupying businesses, such as office supplies or cleaning services, insurance providers, and utility companies.

Total direct and indirect jobs generated by commercial property activity (2018-2023)

	2018	2019	2021	2022	2023
Direct and indirect jobs	2.19 million	2.41 million	2.3 million	2.64 million	2.5 million
Direct jobs	1.23 million	1.32 million	1.26 million	1.37 million	1.37 million
Earnings	£26.3 billion	£28.7 million	£28.5 million	£40.5 million	£36.6 million

Source: British Property Federation

The overall earnings generated by these jobs has increased by more than £10 billion, from £26.3 billion in 2018 to £36.6 billion in 2023.

The number of direct and indirect commercial property jobs reached its peak in 2022, when more than 2.64 million jobs were generated by commercial property activity. This contributed to earnings of £40.5 billion.

Energy performance of commercial buildings

Average EPC rating of commercial buildings

Since the 1st of April 2023, the Government has mandated that a commercial property cannot be let unless it has an energy performance certificate (EPC) rating of E or above. This is due to change in 2028, when commercial property will need a rating of C or above to be let (Energy Advice Hub).

Energy performance certificate ratings of commercial buildings (2022 and 2023)

The most common EPC rating of commercial properties in 2023 was grade C, with more than a third (35.62%) of commercial properties receiving this rating.

In 2023, three-tenths (30.96%) of commercial properties received an EPC of grade B, an increase from under a quarter (24.68%) in 2022.

In line with this, the prevalence of commercial buildings with all ratings lower than this decreased over this period, suggesting that commercial property owners did increase the energy performance of their buildings between 2022 and 2023.

Average Building Research Establishment Environmental Assessment Method (BREEAM) score of commercial buildings across England

Launched in 1990, BREEAM is an alternative to EPC ratings, used to judge commercial property.

A BREEAM rating is a score given to commercial buildings based on their level of holistic sustainability. The criteria considered are wide-ranging across management, water, energy, transport, health and wellbeing, resources, resilience, land use and ecology, pollution, materials, waste, and innovation.

These scores are then rated as follows:

<30 - Unclassified
≥:30 - Pass
≥:45 - Good
≥55 - Very good
≥70 - Excellent
≥85 - Outstanding

Average BREEAM score of commercial buildings in England, by area

More than 2,500 (2,647) commercial properties in England have applied for BREEAM certification. Across these buildings, the average score is 63%, representing a rating between ‘very good’ and ‘excellent’.

The area with the lowest average BREEAM score is Hove, in East Sussex. The 47 properties analysed in this area have received an average score of 51%. Nevertheless, this indicates a rating between ‘good’ and ‘very good’. Meanwhile, properties in Hassocks, in nearby West Sussex, have an average BREEAM rating of ‘excellent’ and ‘outstanding’. The 14 commercial properties analysed in this area received an average BREEAM score of 76%.

Future of the commercial real estate market

This section looks at data surrounding the future of the commercial real estate market, including statistics on planning permission acceptance rates, forecasted commercial property revenue growth, and more.

Average UK commercial property growth forecast

With the UK economy looking to be more stable than things were in 2024, many sources are predicting that we will see a strong commercial property market throughout 2025.

The commercial real estate solutions company Colliers predicts that commercial property investment volumes could exceed 2024 levels, reaching between £45bn and £50bn in 2025.

They also predict that many investors will move away from strategies focused on prime assets, and instead look for value-add opportunities which align with an ongoing UK Government focus on the environmental impact and energy efficiency of commercial properties, alongside changing worker habits across UK businesses.

Such a change in commercial property investment strategy could see UK commercial property returns hit double digits (11%) in 2025, assuming that Colliers' predictions are correct.

Current and future average planning permission acceptance rates for commercial buildings

As of Q2 2024, minor and major commercial developments in England have a planning permission acceptance rate of 87%. Over the next decade, this acceptance rate is expected to fluctuate slightly between 86% and 89%.

Planning permission acceptance rate of commercial developments in England (1984-2034)

Since 1984, the lowest average acceptance rate for commercial developments has been 83%, seen between Q4 1989 and Q1 1991.

On the other hand, the highest average acceptance rate (91%) was seen in:

Q3 1999
Q4 2011
Q2 and Q3 2013
Q1, Q2, and Q3 2014
Q2 and Q3 2015
Q3 2016
Q3 2018

Planning permission acceptance rates are not forecasted to surpass 89% over the next decade.

Average planning permission acceptance rate of commercial developments in England by region (01/01/2014 - 01/04/2024)

Between the 1st of January 2014 and the 1st of April 2024, commercial properties in England have had, on average, a planning permission acceptance rate of 91%.

Typically, commercial properties in the North East of England are most likely to be approved for planning permission, with 94% of minor and major commercial developments in the region receiving acceptance in this period.

Commercial developments in London are the least likely to be approved. With limited space and fierce competition, four-fifths (83%) of properties receive planning permission, eight percentage points lower than the national average.

The future of the global commercial real estate industry

On a global scale, commercial real estate industry statistics illustrate how the market has faced great uncertainty over the last few years, and the Deloitte Center for Financial Services has identified the following factors as having the greatest impact on the industry:

Elevated interest rates and high inflation
Changes in how tenants occupy commercial space
The impacts of climate change on commercial buildings
The emergence of generative AI and other technologies and their impact on the industry

However, 2025 is likely to be a turning point for the global commercial real estate industry.

Nearly nine in ten (88%) C-level executives at real estate owners and investment companies expect their revenue to increase in 2025 from the year before.

This is a dramatic shift from 2024 when only a third (34%) forecasted a revenue increase.

Responses to the question ‘What is your company’s revenue forecast for the remainder of the year compared to last year?’

The global commercial real estate market showed great optimism in 2022, with four-fifths (80%) of C-level executives (and their direct reports) at major commercial real estate owners and investment companies surveyed expecting increased revenue as the market began to recover post-pandemic.

However, this optimism was short-lived. In 2023 and 2024, a high proportion of survey respondents forecast a revenue loss for their companies at 48% and 60%, respectively.

The market is now recovering again, with just 5% of those surveyed expecting their revenue to decrease through 2025. This is the first time this figure has been below the mid-40s since 2022, when 9% forecasted a decrease.

Commercial property FAQs

What is commercial property?

Commercial properties are any buildings which are not intended or permitted for residential use. Commercial properties include retail space, office space, and industrial facilities. Commercial properties are legislated differently to residential properties.

Where to find commercial property for sale

If you are interested in buying commercial property, you should engage the services of a specialised commercial real estate agent. They will help you find appropriate properties which are available to buy. Alternatively, you can reach out directly to owners of commercial properties to explore whether or not they would be open to a sale.

Who insures a commercial property?

The owner of the property is responsible for securing the appropriate commercial property insurance. Even if your commercial premises is unoccupied, it should still be insured, and you must inform your insurer of this when getting a quote for your property.

What does commercial property insurance cover?

Commercial property insurance typically covers damages caused by fire, adverse weather such as storms and floods, subsidence, and malicious damage. Policies can be enhanced to cover additional risks, such as legal expenses and accidental damage.

Who is responsible for ensuring accessibility requirements for a commercial property are met?

Landlords and tenants each bear responsibility for ensuring the accessibility requirements of commercial property are met.

Landlords must ensure that the general layout and communal areas of their properties are accessible, in line with the Disability Discrimination Act (DDA). Meanwhile, tenants must ensure that the space they lease appropriately fits the needs of their employees and visitors.

Glossary

BREEAM

BREEAM stands for the Building Research Establishment Environmental Assessment Method. This is a global alternative to the UK’s energy performance certificates (EPC), which assesses a building’s sustainability from construction to refurbishment.

BREEAM certification can improve the value of commercial properties, as these premises are seen as having lower operating costs and a reduced environmental impact.

Commercial property activities

Commercial property activities are actions taken in the construction, adaptation, and maintenance of commercial buildings.

These include:

The planning, construction, and financing of new buildings
The refurbishment, renovation, retrofitting, and repurposing of existing buildings
The maintenance and management of commercial properties

CRE

Short for commercial real estate, this term is used for all non-residential property. This includes buildings used for retail, office space, and industrial purposes.

Prime yield

In commercial real estate, prime yield refers to the anticipated return on investment from the highest quality properties within a specific market (typically either location-based or purpose-based, i.e. retail or offices). These properties usually attract high-quality tenants looking for long-term leases.

Prime yield is calculated as a percentage by dividing the annual rental income by the current market value of the property in question and multiplying this by 100.

A higher prime yield indicates high property value relative to rent, suggesting strong demand from desirable tenants. However, as the prime yield rises, so too does the level of risk incurred. Conversely, a lower prime yield indicates lower property value relative to rent, though this may be seen as more stable to investors.

Methodology

Data: Average price of floor space

Source: https://www.gov.uk/government/statistics/non-domestic-rating-stock-of-properties-including-business-floorspace-2023

Data from GOV.UK on the rateable value of floorspace for commercial buildings was collected for each region and department in England (2001-2023). The data was then forecasted for the next ten years, and the percentage change was calculated to discover the most expensive/cheapest areas.

Data: BREEAM ratings

Source: https://tools.breeam.com/projects/explore/buildings.jsp

The BREEAM (Building Research Establishment Environmental Assessment Method) site was scraped, and the rating score was compared across factors such as cities, clients, schemes and assessors.

Note: Due to the limited amount of data the site allowed us to view, 3,450 assessments across England were collected.

Data: Planning permission acceptance rate

Source: https://www.gov.uk/government/statistical-data-sets/live-tables-on-planning-application-statistics#open-data-tables-and-supporting-documents

Data from GOV.UK on the acceptance of planning applications for commercial buildings in the UK was collected and forecasted for the next ten years. The acceptance rate was then calculated for each quarter year. The data was forecasted using FORECAST.ETS Excel built-in function.