The word ‘Prime’ has lost all meaning... (but your office still needs an refurb)
RobRob
7th Aug 2025
6 min read (1,184 words)
On one side of the London commercial office space landscape premium-grade offices are thriving. Record-high rents, strong demand, and waiting lists for the best spaces. On the other, older, low-quality offices are struggling, with rising vacancy rates and declining interest from tenants.
The situation with prime
- Currently the highest demand area for London offices (the West End), prime office spaces command annual rents of approximately £137.5 per square foot. ( statista.com )
- Record-Breaking Deals to prove it: Legal & General Investment Management's lease of 186,648 sq ft at Woolgate, 25 Basinghall Street, and BDO LLP's 218,496 sq ft lease at the prime The M Building, 334-338 Oxford Street. ( content.knightfrank.com )
Challenges for Lower-Quality Spaces
- Rising Vacancy Rates: JLL note that despite the energy in the prime space, vacancy rates in the UK have increased to 9%, up from 8.6% last quarter.
- Declining Interest: Older office buildings, especially those lacking modern amenities and sustainability features, are struggling to attract tenants. This trend has led to increased interest in repurposing or upgrading.
- Demand for Prime Outstripping Supply: 62% of office take-up in the UK’s Big 6 regional cities in H1 2024 was for prime office space - 33% higher than the ten-year average. Grant Thornton UK
For anything outside the realm of "prime," failing to modernise and adapt risks permanent vacancy, with rates exceeding 50% in many secondary markets. ( JLL )
Who is this for?
Upgrading isn’t just for entire buildings; many businesses lease individual floors, making floor-level renovations an increasingly common strategy. The flexible office market now accounts for 6-8% of London's total office space, translating to approximately 12-16 million sq ft. (Investment Property Forum)
Princebuild Ltd 's 32 Ludgate Hill, London is a prime example: a single-floor office upgrade completed in just ten weeks, featuring new layouts and high-spec finishes. ( Princebuild )
Top 5 Ways to Upgrade Your Space to 'Prime' Status
See content credentials
Upgrading an office to 'Prime' status isn't just about aesthetics; it involves strategic changes that enhance functionality, sustainability, and employee well-being. Drawing on recent projects by leading architects, here are five key improvements backed by real-world examples.
What Are "Prime" or "Grade A" Offices?
Prime or "Grade A" offices represent the highest standard of office space available, often characterised by superior design, location, and sustainability features. According to Savills, "Grade-A has historically been applied to open-plan office space that includes raised floors; air conditioning; suspended ceilings and recessed lighting." ( Savills )
However, demand for prime offices has evolved. Businesses now prioritise collaborative workspaces, high environmental standards, and energy efficiency. 62% of the UK’s Big 6 regional office take-up in H1 2024 was for prime office space, reflecting a 33% increase over the ten-year average. ( Grant Thornton )
Additionally, prime rents have surged—Newcastle and Sheffield saw increases of over 10% and 15% between Q1 2023 and Q1 2024, compared to a UK Big 6 average of 7%. Tenants are willing to pay more for modern, high-specification offices that support sustainability and productivity.
Despite the high demand, 94% of regional prime office supply is concentrated in city centres, leaving many areas underserved. Investors who modernise secondary offices to meet "Grade A" standards have a significant opportunity to capture premium tenants. Notably, BREEAM-certified buildings, which emphasise sustainability, have been shown to command a 41% rental premium over non-certified projects. ( Grant Thornton )
For a fresh perspective on London’s evolving commercial architecture shaping workspace expectations, see our guide on London's Commercial Architecture .
1. Flexible and High-Performance Workstations
Modern offices are shifting towards adaptable and ergonomic workstations that cater to a hybrid workforce. Workspaces need to support focused tasks, collaboration, and well-being.
- Example: Forrester Architects redesigned an outdated workspace by incorporating sit-stand desks, modular furniture, and optimised layouts to encourage movement and productivity. ( Forrester Architects )
Providing high-quality workstations is crucial, whether offering a fitted office or designing a flexible workspace. Modern setups prioritise health, comfort, and efficiency, enhancing productivity and tenant appeal.
- Example: PJT Partners ' London office overhaul created a minimalist yet highly functional workspace. ( K2SPACE )
2. Collaboration and Multi-Use Meeting Areas
The demand for flexible, technology-equipped collaboration spaces continues to rise. Offices that provide a mix of breakout zones, soundproof pods, and interactive technology attract high-caliber tenants.
- Example: JBH Refurbishments integrated open-plan work areas with designated private meeting spaces in their recent London office upgrade. ( JBH Refurbishments )
High-quality meeting spaces with soundproof booths, video conferencing, and flexible communal areas significantly enhance office desirability.
- Example: YY Ventures London’s refurbishment at 30 South Colonnade focused on extensive collaborative spaces. ( wharf-life.com )
3. Sustainable and Energy-Efficient Design
Sustainability is a priority for modern businesses, with energy-efficient designs reducing operational costs and meeting ESG (Environmental, Social, and Governance) targets. BREEAM-certified spaces are in high demand and often command rental premiums.
- Example: Oktra ’s transformation of the South Bottle Works building focused on sustainability, integrating energy-efficient lighting, improved insulation, and enhanced natural ventilation. ( Oktra )
Eco-friendly workspaces align with corporate sustainability goals and reduce long-term costs. Energy-efficient offices also provide better air quality and lighting, enhancing employee well-being.
- Value Added: ESG-compliant offices command 5-20% higher rents and have lower vacancy rates.
- Example: The Ark in Hammersmith by Rockfon underwent a £20 million refurbishment, emphasising energy efficiency above all else. ( rockfon.co.uk )
4. Smart Technology Integration
High-speed connectivity, automated climate control, and smart building systems are now standard expectations for prime office spaces. Businesses prioritising digital infrastructure attract tech-savvy tenants.
- Example: forresterarchitects implemented state-of-the-art AV conferencing facilities, automated lighting, and wireless charging stations in a recent office refurbishment project to enhance usability. ( Forrester Architects )
Seamless integration of technology - smart lighting, high-speed internet, and automated climate control—attracts tenants seeking efficiency and connectivity.
- Example: The Republic campus in East London implemented state-of-the-art technological infrastructure. ( rockfon.co.uk )
5. Aesthetic and Brand-Driven Enhancements
The look and feel of an office play a significant role in employee retention and client impressions. Prime office spaces incorporate high-end finishes, statement artwork, and immersive brand experiences.
- Example: Oktra’s for their refurbishment of South Bottle Works went all out on bespoke interiors that reflect the company’s identity. ( Oktra )
A visually striking office boosts brand identity and employee satisfaction. Features like artwork, enhanced lighting, and premium materials elevate the workspace to 'Prime' status.
- Example: The Ministry of Defence Main Building combined heritage preservation with modern design. ( bennettsassociates.com )
The Bottom Line
The days of ‘good enough’ office space are over. Businesses, particularly those enforcing RTO mandates, are willing to pay a premium for well-designed spaces and rejecting substandard ones.
Our guide on Reclaiming Office Potential offers practical advice and case studies on transforming outdated spaces.
Considering the capital intensity of refurbishment, Fit-Out Finance options are vital to enable growth without overextending resources.
At Leanspace , we help office's optimise their spaces. Whether identifying key upgrades or marketing flexible office setups, we offer insights that transform underperforming offices into high-demand properties.
Get in touch to future-proof your office space.
Coming Soon: Examples of budget-friendly office transformations.
-min-900x600.jpg&w=3840&q=75)