Report

M1 South Offices & Labs Databook - February 2026

25.2.26 5 MIN READ

The Milton Keynes office market continues to benefit from business relocations and plans for a new Warner Brothers theme park has given a further boost to demand. Prime office rents rose by 11% in 2025 and the shortage of Grade A space in the city centre is likely to support further rental growth.

Office demand in Milton Keynes improved in the second half of 2025, with take-up reaching 205,200 sq ft and requirements rising to 385,200 sq ft, partly supported by plans for a new Universal Studios theme park near Bedford. Activity focused on Grade A city centre space, pushing prime rents up 11% to £39.00 psf. Rents are forecast to reach £45.00 psf by 2030.

Availability increased to 796,400 sq ft, or 15.9% of stock, mainly in older buildings. While no new offices are under construction, the refurbishment of Santander’s former office will deliver 213,200 sq ft of Grade A space. Prime yields moved out to 10.5%, offering potential value given rental growth prospects.