The Bristol office market underwent a year of consolidation during 2015 where the lack of product, particularly Grade A office buildings significantly impacted on the final takeup numbers for the year.
Take-up in 2015 in Bristol totalled 783,199 sq ft, well short of the 1.26m sq ft transacted just 12 months earlier and down 7% on the 5-year average (2011-15). This contraction can be put down to a shortage of good quality supply, particularly for larger floor plates, rather than demand or economic fundamentals in the city.
Law firm, TLT Solicitors, secured the largest city-centre letting of 2015, when they signed up for an extra 27,135 sq ft at No.1 Redcliff Street, where they already occupied 60,000 sq ft.
Source : BNP Paribas Real Estate