Two years ago, prime office space in St Helier was letting at around £28–£30 per sq ft. Today, it is £40+.
That is not steady rental growth. It is a 33% recalibration in 24 months.
For new-build space, the equation is tougher still. Pre-let rents now need to exceed £60 psf simply to make development viable.
What’s driving this?
Prime office vacancy in Jersey has compressed to just 1.5%, while approximately 210,000 sq ft of live enquiries pursue a dwindling supply of quality Grade A space. For occupiers, the message is clear. With supply this constrained, downward pressure on rents is unlikely. Delay brings fewer choices and higher occupational risk.
This pattern is mirrored across the UK’s Big Ten cities, where Grade A vacancy averages 2.4% and prime rents rose 6.5% in Q3 alone. Jersey’s difference is scale. In a small market, supply shortages translate into faster and sharper pricing adjustments.
Our advice to Channel Islands occupiers with a lease event in the next three years start earlier, not later!
See the full data in our 2026 Research Report.
