Costar Data Shows Big Six Q1 Office Investment Volumes at Their Highest Since 2018
The Big Six office investments reached an eight-year high in the first quarter of 2026, according to data from CoStar, a global leading provider of online real estate marketplaces, information and analytics in the property markets.
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Investors spent £485m across Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester in the first quarter of the year, slightly above the five-year average.
Manchester led activity for the second consecutive quarter, with volumes exceeding £120m, just ahead of Edinburgh (£113m) and Bristol (£88m). All three cities recorded transactions above £50m, led by a 200,000-square-foot sale for around £114m at a 6.85% net initial yield.
“Most of the large deals were completed before March, which was too early in the quarter to be affected by the war in Iran,” said Giles Tebbitts, director of market analytics at CoStar Europe. “Lower entry prices, attractive net initial yields and an undersupply of prime, well-located space have drawn investors, as the market has moved through the worst of its repricing phase.”
The largest out-of-town transaction was in Solihull town centre, a £12.5m deal for 70,800 sq. ft. at a net initial yield of 11.95%.
The full analysis can be found here.
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About CoStar Group
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
CoStar Group’s websites attracted over 131 million average monthly unique visitors in the first quarter of 2026, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
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