The Bristol office of global property advisor, Cushman & Wakefield has supported the findings of the latest Tech Nation report released last week which revealed that the city is the third best in the UK for tech investment and the 12th best in Europe.
Tech Nation, the growth platform for tech companies and leaders, has been the UK’s State of the Nation report for technology since 2015. Each year it monitors the growth of the sector and provides information about opportunities and challenges.
The report revealed that Bristol is just behind London and Cambridge in terms of tech investment.
There was also positive news for the UK with it being only second to the US for Fintech investment and third in the world for investment in crucial emerging technologies.
According to the report, in the South West there was £300 million of Venture Capital investment in tech last year with a £438 million invested in emerging tech between 2015 and 2019. The region is also home to two Digital tech unicorns (privately held startup company valued at over $1 billion) – OVO Energy and Graphcore with a number of Bristol-based ‘future unicorns’ on the horizon including Immersive Labs and Ultraleap.
Andy Heath, Partner and Head of Office agency at Cushman & Wakefield in Bristol, commented: “The Tech Nation report reaffirms Bristol as a UK stronghold in the tech industry and one of the key reasons for its recent strong economic growth. We have always known there are more people employed in tech in Bristol than anywhere else in the UK outside of Shoreditch and it’s good to see this is continuing to evolve. Bristol has the most impressive pipeline of office development in its history, setting a new benchmark for regional office accommodation which we hope will cater for the pent up demand from this sector.”
Nick Allan, International Partner and Head of Capital Markets at Cushman & Wakefield in Bristol, said: “The strength and depth of the tech sector within the key UK economies is a major factor for commercial property investors to consider given its contribution to the overall growth of the UK economy. As evidenced by the Tech Nation report, Bristol is a UK leader and has further underwritten investors’ appetite for targeting investment in good quality office assets within central Bristol.”