Demand for retail space and the availability of investment opportunities in East Bristol is helping to keep high streets and shopping precincts busy – despite a slow-down in other areas of the city.
This is according to property consultants ETP, who have identified something of a retail renaissance in the neighbourhoods of Kingswood, Speedwell, and Fishponds.
Partner Alastair Kimpton said: “Despite the doom and gloom in the media, we have noticed a return of investors to Bristol’s secondary High Streets. ETP is in a unique position, acting for all the major lenders, such that we can track where investor appetite is shifting around the city.
“We have seen a surge of investors identifying what used to be seen as secondary locations such as Kingswood, Easton, Fishponds and Stapleton Road as being the next growth areas.
“Whilst investors know that their tenants are likely to be small businesses with limited financial security, these occupiers are prospering due to the influx of young professionals, families and those with disposable income into these neighbourhoods.
“We are constantly receiving enquires from tenants for new retail stock to let and are always looking for new landlords to work with that can take a pragmatic view and reap the benefits.”
Chartered Surveyor Amy Hoskins said: “Away from the prime locations, demand has been greatest for the parades in St George and Redfield, especially along Church Road. This has been, in part, due to a number of national occupiers taking space in the area, although principally driven by a growing café and restaurant culture with a number of upmarket eateries replacing historic ‘breakfast cafés’.”
Alastair Kimpton also stated that a number of new restaurants were bringing a wealthy crowd of ‘restaurant tourists’ into areas historically not know for quality food establishments, in particular The Cauldron on Mina Road in St Werburghs and Dela, a Swedish restaurant on Mivart Street in Greenbank.
He said: “Restaurateurs are opening in cheaper areas and are finding that customers will travel to quality.
“In these more affordable areas, businesses are able to minimise their overheads (rent, rates etc.) as they establish their reputation, reducing the risk associated with a new business venture.
“We continue to seek new agency instructions in these areas, knowing we can work hand-in-hand with landlords to achieve results.”
Alastair Kimpton said London-based developers have bought and are still looking for brownfield sites in Fishponds, Greenbank, Speedwell and the surrounding areas, hoping to capitalise on the uplift in popularity of these areas.
ETP also has a number of retained clients actively seeking development sites for residential, industrial/warehouse and office schemes.
Launched in 1878, valuation specialists ETP Property Consultants is based in Bristol and Chepstow and has a range of clients across the South West. They advise on all aspects of commercial property including sales and acquisitions, planning and development and commercial investment.
ETP is a member of the Royal Institution of Chartered Surveyors and the Bristol Property Agents Association.
