Overheating Bristol property market driving firms out of the city

Rising rents, lack of supply and non-business friendly parking plans are resulting in more and more company owners registering their interest in commercial office space outside of the city.

This is the view of Gemma Day, 30, who is Director of Weston Gateway Business Park (WGBP) – a multi-purpose business location at Junction 21 Enterprise Area in Weston-super-Mare.

She said that she is seeing enquiries flood in from Bristol firms for space at Enterprise House, which is a 26,000 sq ft commercial office build that offers suites from 2,500 sq ft in size for businesses.

Enterprise House is set to be completed by the summer of 2016 and is very likely to be at capacity before a spade hits the ground.

Gemma comments: “The level of interest from firms in Bristol, and across the South West, looking to take space at Enterprise House is unprecedented and shows that sky high rents, lack of supply and policies from local government that aren’t always business friendly, are having an impact.

“Businesses in Bristol from a wide range of sectors are looking for alternatives outside of the city now. Time will tell whether this translates into yields at the site but I am confident, especially when you consider business owners can get £16.50 per sq here against £25 plus in the city for Grade A BREEAM rated space.”

Gemma goes further by saying that her site is not unique and many other ‘out of town’ business locations are also seeing enquiries increase from Bristol businesses.

She also says that a highly skilled working population in Weston-super-Mare, with 47% of residents working in management and technical occupations, is making Bristol firms stand up and look at what is on offer at Enterprise House.

“You can’t compete with the history and buzz of Bristol but you can offer a strong alternative; and the level of investment being made in this town is unheard of and helping to change perceptions. This development is unique as well, in that it is fully privately funded and there isn’t another like it in the South West.”

At Enterprise House occupiers will have the opportunity to plan the layout of the interior and the building will be constructed to a BREEAM rating of ‘Very Good’.

The new offices will join Knightstone Housing and Greene King who are currently also at Weston Gateway Business Park; and several other new occupiers, including major brand names, are likely to be announced in the coming weeks.