Independent Financial Advisers Ellaby Pollard has taken space at Bristol’s Whitefriars following a deal brokered by Bruton Knowles.
Acting on behalf of the Institute of Financial Planning, Bruton Knowles has negotiated a lease surrender and the grant of a new five year lease on part third floor, South Block at Whitefriars.
Landlords Topland Mercury accepted the surrender of the IFP lease with the simultaneous grant of the new lease to Ellaby Pollard who are relocating from Harford House, Frogmore Street, where they have been in occupation for around 30 years.
The building facilities include an on-site cafe and gym, bookable meeting rooms and a manned reception desk.
The refurbished, 1,500 sq ft office comes with two car spaces and is typical of the deals crossing the line in Bristol at the moment.
Paul Williams, head of agency at Bruton Knowles’ Bristol office, said: “Commercial stock availability continues to fall and as a consequence many businesses, particularly in the SME sector are finding it more difficult to locate suitable office premises.
“Rents are rising and in some cases have doubled over the last 12 months. Whilst this is obviously good news for landlords it is less welcome for tenants wanting to expand or relocate to new premises.”
The recent announcement that the Pithay is to be refurbished as office space targeted towards the creative sector, rather than converted into residential accommodation is welcome news, and may indicate that the tide is beginning to turn as landlords spot opportunities to benefit from the upturn in the office market by investing in their buildings and enjoying higher rental income as a result.