6% rise in Bristol’s office rental growth

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by Lin Freestone

During the past year there has been a rise of 6% in office rental growth in Bristol. The limited availability of prime city centre accommodation in the city has driven the cost of prime office rents to £27.50 sq ft.

A number of larger occupiers are looking to relocate to Bristol as it represents an attractive value location, with good communications, quality of life and an educated workforce.

In the first quarter of 2008, city centre take-up was well above the average for the same period over the last five years. It is anticipated that the second half of 2008 will perform just as well.

Knight Franks’ latest Global Real Estate Market Annual Review places Bristol in fourth position in the English market after London, Birmingham and Manchester.

The West End of London continues to be the world’s most expensive office market, with current rates of £110 sq ft. In the City of London, prime office space is £63.50 sq ft.