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Bristol office space demand ‘increased in Q3 2012’

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Demand for office space in Bristol continued to grow during the third quarter of 2012, it has been reported.

According to latest figures from DTZ, 113,000 sq ft of office space was taken up in the city between July and September.

The largest single deal in the Avon region was for 12,000 sq ft of grade B space to SDL, with the majority of units being for 5,000 sq ft or below.

Based upon the latest figures, annual office space adoption will reach around 420,000 sq ft this year – similar to 2011.

Andy Heath, director of DTZ in Bristol, said the city continues to show signs of “very positive activity”.

However, he noted that transactions are relatively slow moving – as seen in many other regional centres around the UK.

“The dynamics of the market are still strong with limited availability, especially at grade A level,” Mr Heath stated.

“There is evidence of emerging strength in demand from the technology, media and telecommunications and more recently the financial services sector.”

This correlates with the current trends in London and the south-east of England, he noted.

“When the market does show continuous signs of resurgence, Bristol is one of the best placed regional centres to take advantage of this.”

Companies seeking office space in south-west England’s principle city have a number of excellent options to choose from.

Among the options are serviced offices at Temple Meads – with excellent access to the national rail network – and office space in upmarket Clifton in the west end of the city.