The UK office market is experiencing significant challenges, with properties selling at an average of 18% below their asking prices, the largest discount seen since the 2008 global financial crisis. According to data from CoStar, this substantial drop reflects weak demand, particularly for older office buildings that are less energy-efficient.

The growing focus on environmental sustainability, combined with economic uncertainty and shifts towards remote or hybrid working, has reduced the attractiveness of many traditional office spaces. As a result, buyers are negotiating steep discounts, particularly for offices that do not meet modern energy efficiency standards or are located in less desirable areas.

This trend underscores the difficulties faced by property owners and developers, as they must adapt to changing market preferences or risk seeing their assets devalue further.