Cushman & Wakefield gives its predictions for what’s in store for the Bristol property market in 2019:
Andy Heath, Partner in Cushman & Wakefield’s Office agency team in Bristol comments: “2019 promises to be a seminal year in Bristol as we enter 12 months with no grade A product being delivered, demand increasing from both inward investment and organic growth, a demographic that is one of the youngest and strongest in the country and a booming tech sector.
We anticipate the rental growth witnessed in the past 24 months (24%) will continue with headline rents anticipated to be in the mid-high £30’s psf which will have to come from pre-lets. The supply pipeline is beginning to re-emerge with some of the most exciting schemes to be seen in Bristol due to come on line from 2021 onwards, which is established on the back of occupiers demanding more from their buildings as the war on staff retention and recruitment intensifies, particularly within the tech sector.
Infrastructure improvements within the city are now progressing which, together with the electrification of the West Coast Mainline reducing journey times from Temple Meads to Paddington to 1 hour 20 minutes, gives everyone confidence that Bristol is now beginning of realise its full potential.”