Businesses flock towards Colston Avenue as office demand in Bristol continues to soar

Leading property consultancy, Hartnell Taylor Cook, has announced that 33 Bristol has achieved a 97% occupancy rate on its second and third floor, housed by flexible workspace provider, Orega – leaving only half of the fourth floor left to occupy in the entirety of the building.

Located in the heart of Bristol’s vibrant business district, the building has seen a flurry of activity in recent months as workers have returned to the city; a testament to Bristol’s booming office market, which witnessed a record Q4 last year and saw investment jump by 25% in the first quarter of the year.

With major deals taking place across the city, 33 Bristol responds directly to post-pandemic office demand by showcasing a space with fantastic natural light, improved energy efficiency standards that include brand new VRF air-conditioning systems incorporating heat recovery and 78 secure bicycle storage spaces.

After completing a £1m refurbishment in the midst of the pandemic, the building boasts a bath stone art deco façade, which embodies the creative companies already occupying the space that desire to be in the heart of Bristol’s marketing district.

Businesses that have relocated to the building in recent months include Lloyds Banking Group and Schroders Plc owned financial planning and investment services business, Schroders Personal Wealth, as well as a leading events business and major recruitment company, demonstrating a lasting commitment to Bristol city offices from a wide variety of business sectors.

The building is owned by one of the UK’s largest privately owned investment groups, Topland Group. Hartnell Taylor Cook, along with joint agents JLL and Burston Cook, are marketing the final 5,469 sq. ft available in 33 Bristol on a conventional CAT A basis.

Commenting on the news, Lizzie Boswell, Senior Surveyor at Hartnell Taylor Cook, said:

“It’s fantastic to see that businesses are looking to take more space, not less, due to the pandemic, following a time when the importance of bricks and mortar became crystal clear for many. The quality of an office is now incredibly important to many businesses looking for the best for sustainability and tech, which is why 33 Bristol has performed so well.

The Bristol office market has witnessed an incredible bounce back from the pandemic, and there is no doubt that 33 Bristol’s remaining space will be snapped up quickly due to the extremely high levels of demand in the area.”

Amanda Blakemore, Regional Sales Manager at Orega, also said:

“We are so thrilled to see the Bristol office market growing at such speed. Uptake in the building soared through new clients and it’s been great to see existing businesses expanding their office space and doubling down on the city. The popularity of Colston Avenue is testament to the enthusiasm with which workers are returning to the office.”

Steve Pope, Group Director of Property and Asset Management at Topland Group, also said:

“It’s great to see that concerns about the future of the office at the outset of the pandemic have really been put to bed in the last few months. Orega’s occupancy rates clearly demonstrate that there is plenty of appetite in high-quality stock and it seems that demand is only growing.’