M&G Real Estate has secured an 8,300 sq ft letting at 3 Temple Quay to Brunel Professions Ltd, one of the UK’s fastest growing insurance brokers. The letting was secured on a ten-year lease and leaves only 3,000 sq ft remaining at the landmark office building.
Part of the Brunel Group, Brunel Professions was established in 2005 in Bristol to provide a fully independent, PII broking service.
In the heart of Bristol’s business district, 3 Temple Quay is just five minutes’ walk from Bristol Temple Meads mainline station and provides Grade A office accommodation with a spectacular and newly refurbished full height glazed central atrium. It has attracted a range of occupiers including lawyers, creative businesses and banks and now adds insurers to the line-up.
This latest deal and the low void rate in the building typify the favourable market conditions reported in M&G Real Estate’s latest UK Outlook research. The paper highlights the combination of restricted supply and healthy demand in regional Grade A offices driving continued rental growth despite economic headwinds.
Sam Jones, Associate Director, Offices at M&G Real Estate, said: “3 Temple Quay is widely regarded as one of the landmark office buildings in Bristol and has been improved greatly with the recent works undertaken to the reception and common areas. With the current undersupply of Grade A accommodation in the city, we are seeing a clear and continued fight for and flight to quality. We are pleased to have secured this letting ahead of our underwritten position and to add to our already strong tenant line up with the addition of Brunel.”
M&G Real Estate was advised by Savills and Colliers International.