Skip Ribbon Commands
Skip to main content

News Release

Bristol

Expansions and varied sector interest sustaining Bristol office market

Q3 figures show plenty of city centre transactions and strong out of town activity, according to report by Jones Lang LaSalle


Bristol, 7th October 2011 - Property experts have described the latest office market figures for Bristol as “encouraging” with lots of activity in both city centre and out of town locations.
 
The latest figures for Q3 show city centre office take up in Bristol totalling 74,000 sq ft, bringing the total for the year so far to 315,000 sq ft.
 
Out of town locations for the quarter saw occupiers take 84,000 sq ft, bringing the total for 2011 so far to 235,000 sq ft.
 
Abbie Long, Associate Director at property consultants Jones Lang LaSalle, said of the city centre figures: “Whilst the latest quarter has lacked those major headline-grabbing deals the actual number of transactions taking place has been hugely encouraging and we expect the year-end figures to be broadly in line with last year”.
 
She added: “The sheer breadth and variety of sectors which are now choosing to take office space here is also very positive”.
 
Office locations around the outskirts of Bristol saw strong amounts of activity during the third quarter of 2011, including a deal which saw a major occupier further committing their future to the city.
 
“Activity in the out of town areas gave us some surprises in Q3,” said Mrs Long, “especially north of the city where Motability announced further expansion taking  as additional 20,765 sq ft at Bristol Business Park, effectively making Bristol its permanent home following rumours last year that it was considering a move to Swindon.
 
“There was good news too for south Bristol which saw a major relocation by PADI which acquired 22,074 sq ft at the Pavilions in Bedminster Down.”
 
Mrs Long added: “The overall market for both city centre and out of town is looking stable and, while the last quarter hasn’t seen the kind of mega-deal that tends to grab the headlines, overall numbers of transactions are good and total take-up for 2011 looks to be very similar to 2010.”