The Office Agents Society, made up of representatives from Bristol’s leading surveying practices, has released the 2014 office take-up figures for Bristol.
Total office take-up across Greater Bristol last year reached 1,266,535 sq ft, breaking the 1 million sq ft mark for the first time since 2008. There was also a further 304,863 sq ft of office take-up for alternative uses.
Quarter 4 activity in the city centre totalled 401,235 sq ft, compared with the 2013 figure of 76,835 sq ft. The out of town total stood at 91,649 sq ft compared with 51,163 sq ft at the same point in 2013.
Andrew Hardwick of WGH stated: “Market conditions have significantly improved over the last 12 months with headline rents increasing and incentive levels reducing.”
Catherine Collis from Alder King added: “We saw a dramatic jump in take-up in the final quarter of 2014 with a number of high profile lettings. This was a great way to end 2014 and we expect this level of activity to continue into 2015.”