The Cost of UK Office Space

Take-up in Bristol city centre at the end of Q3 was 506,412 sq ft which is the highest total for in six years. The continued growth and development of businesses in the Tech and Creative sectors have accounted for 24% of take-up. Availability currently stands at 1.1m sq ft and this includes 324,800 sq ft which is under construction. This new space will be delivered in the next 12 months and with large deals still happening, like the one signed by West of England Combined Authority for 20,000 sq ft at Seventy Radcliff Street, the expectation is that this will be occupied quickly.

Diverse, prosperous, lively, and the largest city in the southwest of England, Bristol is the major importer of grain, timber, fresh produce and automotive vehicles into the UK. The city is also home to creative media, aerospace, electronics, IT, tourism, financial services and defence industries. Bristol is one of the largest centres for employment and education, with two universities providing a diverse talent pool to employers.

Bristol’s tenant profile varies from the Ministry of Defence, Airbus, Rolls Royce, Aviva, RAC and Hargreaves Lansdown.

The most popular areas to rent office space in Bristol are:

• Temple Meads
• Broadmead
• Clifton
• Aztec West