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Demand for Bristol office space skyrockets | 23 April 2013

Demand for office space in Bristol has sky-rocketed over the past year, according to new research.

A report from Colliers International has indicated that take-up of office space across the city has increased by 16 per cent over a twelve-month period.

The report, which used averages from the first quarter of the year, found that offices in the town center had become especially popular – with take-up rates increasing by 59 per cent in the past year.

According to property-magazine.eu, Bristol City Council’s purchase of 100 Temple Street played a key role in this impressive growth. In fact, that transaction accounted for more than 50 per cent of take-up in Q1 2013.

Nevertheless, optimism remains sky high amongst developers in this part of the world.

Speaking to southwestbusiness.co.uk, CBRE Bristol’s head of development, Phillip Morton, claimed that this was reflected by plans to construct more office buildings in the near future.

He said: “The fact that a major speculative scheme is taking place in Bristol has to be a good sign for the property market. There are signs that demand is returning for top-quality offices which has to be a good thing for the market as a whole in Bristol.”

The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.

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