"With Covid firmly in the rear view mirror, businesses are adjusting to the new normal, which for many includes a return to office working, as evidenced by a 100% increase in applications for London office projects"
- Daryl Norkett - Shawbrook
Professional landlords are increasingly turning their attention to office properties, new research from Shawbrook shows. Applications for office-related projects jumped significantly during the first half of 2025.
Applications from landlords for office space projects rose by 44% in the first six months of the year. In some regions, demand has more than doubled. The South West experienced a 233% increase, closely followed by the West Midlands with a 225% rise.
London saw applications grow by 100% in the same period, matched by a similar increase in Wales. Yorkshire and the Humber recorded an 83% rise, while the South East grew by 50%. However, not all regions saw gains. East Anglia's applications dropped by 60%, while the East Midlands and Scotland declined by 20% and 14%, respectively.
“Diversification has been the theme of the past couple of years for professional landlords,” explained Daryl Norkett, director of real estate proposition at Shawbrook. “They continue to demonstrate agility and adaptability in the face of ongoing market and economic challenges.”
He added, “With Covid firmly in the rear view mirror, businesses are adjusting to the new normal, which for many includes a return to office working, as evidenced by a 100% increase in applications for London office projects.”
Norkett also noted that “as economic turbulence looks set to be on the cards for the foreseeable future, professional landlords should be looking to take advantage of increasing demand across different asset classes to maximise their yield and protect their business. Talking to a specialist commercial broker could be beneficial for landlords looking to expand their portfolios and navigate the market effectively.”
