Owner-occupiers accounted for their highest share of office occupier activity in Great Britain in more than a decade in 2025, according to new data from Carter Jonas.
Owner-occupier activity was particularly pronounced outside London, accounting for nearly one in five office sales by transaction count (17.8%) between 2024 and September 2026, up from 13.4% between 2018 and 2023.
Falling office values and rising rents are shifting the financial balance between buying and leasing for some businesses with established long-term space requirements.
Sophie Davidson, associate research analyst at Carter Jonas, said: “Owner-occupier purchases represented 13.4% of all office occupier activity in 2025, their highest share in more than a decade. Although that remains below the 2012 peak of 19.4%, it represents a clear shift from the lower levels recorded between 2017 and 2022.
“Interestingly, the increase appears to be both cyclical and structural. The repricing of offices may have created an immediate opportunity, but a growing emphasis on control, cost certainty and the strategic value of real estate could help sustain demand beyond the current market cycle.”
Ali Rana, head of national investment at Carter Jonas, added: “For some organisations, the cost of purchasing is now comparable with, or even lower than, the cost of leasing. That creates a real opportunity for businesses with the capital and a clear understanding of future space needs. Ownership can also provide flexibility within the building.
“A business can initially occupy the space it needs and let the remainder, generating income until expansion requires it. If its requirements later contract, surplus space may be let again. This turns property from a fixed occupational cost into an income-producing asset, which can also strengthen its attractiveness to lenders, while giving the business greater control over its long-term property costs.”
