Guildford’s office market is entering a new phase, with town centre regeneration schemes reshaping its appeal as both a workplace and a place to live. According to commercial property consultancy and Thames Tap partner Vail Williams, demand for modern, sustainable office space continues to rise, while supply remains severely constrained.

This dynamic, coupled with large-scale investment in residential and mixed-use developments, is positioning Guildford as one of Surrey’s most competitive office markets.

Market on the move

So far in 2025, several landmark deals have highlighted strong occupier appetite for well-located, high-quality space.

Bottle Works, one of the few Grade A refurbishments in the town centre, set a new rental high at £45 per sq ft, with quoting rents now reaching £50 per sq ft.

More than 60 per cent of the scheme has already been pre-let ahead of completion, underlining occupiers’ flight to quality.

Availability across Guildford and Woking has fallen to 45 per cent below the five-year average, with less than 250,000 sq ft of space currently on the market.

In central Guildford, prime office vacancy is now below five per cent. With little new-build Grade A space in the pipeline and much of the existing stock requiring refurbishment or conversion, the choice for businesses seeking central, modern accommodation is becoming critically limited.

Regeneration reshaping the town

While supply is under pressure, regeneration is transforming the town centre environment.

The £125 million St Mary’s Wharf redevelopment of the former Debenhams site will deliver 183 riverside homes, cafés, retail, and a new public walkway along the River Wey. Once underused, the site is being reimagined as a vibrant anchor for Guildford’s eastern quarter.

Meanwhile, Solum’s £150m Guildford Station Quarter project is set to deliver more than 430 homes, 20,000 sq ft of office space, a transformed station arrival experience and a new public plaza.

These investments, alongside other long-anticipated schemes such as North Street and retrofit projects like 31 Chertsey Street, are reshaping Guildford’s character into a more amenity-rich and connected destination.

The ripple effect on offices

According to Luke Storey (pictured) agency associate at Vail Williams, regeneration is already influencing occupier behaviour.

“Improved public realm, riverside cafés and a growing residential population are helping to create the kind of live-work-play environment that appeals to employers, particularly in the tech, gaming and professional services sectors,” he said.

“With more people living in and around the centre, the café and retail culture is becoming more active throughout the day. This improves the experience for office workers and makes the town centre a more compelling base for employers.”

The willingness of occupiers to pay a premium for central space reflects this changing landscape. Alongside Bottle Works, upward pressure on rents is being seen at other schemes such as One Farnham Road and the University of Surrey’s expansion at Surrey Research Park.

Rising pressure, new opportunities

With supply tightening and demand holding firm, rental growth is expected to continue in the short to medium term, particularly for best-in-class space. Speculative schemes such as Forge, a proposed 75,000 sq ft office at One Farnham Road, will be closely watched to see if they can meet part of the demand.

For now, Guildford’s identity is shifting. A blend of riverside living, new public spaces, stronger connectivity, and high-quality town centre amenities is creating an environment where businesses are keen to establish themselves.

Once viewed primarily as a commuter hub, Guildford is increasingly standing out as a destination for talent, growth, and long-term investment.

Office space in Guildford

One example of sought-after Grade A accommodation currently available is Hays House, which offers fitted office space with a strong car parking ratio.

Further details on Hays House and other available offices in Guildford can be viewed here. For more information, contact Luke Storey, associate in Vail Williams’ western corridor agency team.

© Thames Tap (powered by ukpropertyforums.com).

Sign up to receive our weekly free journal, The Forum here.