Office take-up in Cardiff bounced back in 2022 with annual transactions above the pre-Covid trend levels, according to global property consultancy Knight Frank.
In its annual survey of the office market in the UK’s key regional cities, shows that Cardiff office transactions for the year - although experiencing a drop off in the final quarter - reached 459,074 sq ft, 87% up on 2021 and the highest level in five years. The number of out-of-city deals grew by 20% from the previous year.
Key office deals during 2022 included the 65,000 sq ft letting at Number 3 Capital Quarter to British Telecom at an annual rent of £23 per sq ft, the 1 Central Square 12,187 sq ft letting to Hodge Bank at £25 per sq ft, and the 14,751 sq ft deal at 1 Capital Quarter with the Audit Office at a £19.50 per sq ft rental.
