Bristol 'facing shortage of quality office space'

A shortage of prime office accommodation is expected to emerge in Bristol later this year

Article posted: 20 Jan 2011

Companies seeking to rent offices in Bristol may need to act quickly, according to comments from an industry expert.

Martin Booth, office agency partner at Knight Frank, told Bristol 24-7 that the development pipeline for new commercial buildings in the south-west city remains highly restricted.

"This will increase the likelihood of a shortage of prime space in the second half of 2011," he explained.

Mr Booth said the availability of "top quality" office space in Bristol has fallen to less than 325,000 sq ft and predicted that refurbishments will play an increasingly important role in maintaining supply.

He made his comments after new data from the Office Agents Society revealed total office take-up in the city centre rose from 327,000 sq ft to 458,000 sq ft last year.

Earlier this month, the Woodlands Court multi-let office park (pictured) near Bristol was purchased by property fund manager Highcross in a deal worth £4.5 million.

Posted by Dan