Sharpening demand from the booming TMT sector has helped boost office take-up in Bristol – despite the uncertainty over the Brexit Factor.
City centre take-up for the first quarter of 2017 was even stronger than expected, with 126,319sq ft of space transacted, according to the latest figures, with the total boosted by the purchase of the recently refurbished 32,000 sq ft Augustines Courtyard building by Bristol University.
Paul Williams from Bruton Knowles’s Great George Street office said out-of-town take-up totaled 89,774sq ft for the first quarter helped by a letting of over 18,000 sq ft to Boeing at Bristol Business Park.
Paul Williams added: “The Bristol market continues to perform strongly despite the continuing uncertainty over what effect, if any, the Brexit process will have on the wider economy. Hopefully the announcement of a snap general election on June 8th won’t throw a spanner in the works.
“Bristol remains a highly attractive place to do business and the office take-up figures illustrate this.
“Our main concern for the remainder of 2017 is that a lack of sufficient stock, particularly for the SME sector, could act as a brake on progress, with a shortage of sufficient investment in the form of development activity and refurbishment of existing buildings to meet ongoing demand.”