CoStar FY2025 Southbank East annual net absorption jumps above 200,000 sq ft; vacancy rate rises to 11.5%

Reuters03-26
CoStar FY2025 Southbank East annual net absorption jumps above 200,000 sq ft; vacancy rate rises to 11.5%
  • CoStar data showed Southbank East returned to positive office absorption after two years of net demand losses.
  • Annual net absorption exceeded 200,000 sq ft in Q4 2025, the strongest quarterly performance in more than a decade.
  • The vacancy rate reached 11.5% at the beginning of 2025, up from less than 2% in 2019.
  • Almost 1.0 million sq ft of new office space was delivered between 2020 and 2025, and vacancy for floorplates larger than 15,000 sq ft stood at 8.3%.
  • More than 1.3 million sq ft has been delivered since 2020, with over 20% still available, while about 25% of space under construction is pre-let.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CoStar Group Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202603260400BIZWIRE_USPR_____20260326_BW540657) on March 26, 2026, and is solely responsible for the information contained therein.

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