Take-up in Bristol’s office market rose by 45% in 2010 compared with 2009, according to a report by CB Richard Ellis.
However, the 860,000 sq ft total falls short of the 10-year average for the South West city.
CBRE predicts that take-up will reach 850,000 sq ft this year, with prime rents remaining stable and grade A supply decreasing.
Investment transactions in the city fell to £108m, compared with £136m in 2009.
There is £90m of investment stock on the market and CBRE is predicting a potential downward pressure on secondary stock.
Peter Martin, associate director at CBRE, said: “Activity during 2010 improved considerably from 2009, with a marked contrast between city centre and out-of-town take-up figures. The market has definitely stabilised and should continue to improve in the coming year.”
Andy Sayner, senior director of investment at CBRE, said: “The increase in the number of secondary assets coming onto the market could see prices coming under pressure in this asset class during the coming year.”
stacey.meadwell@estatesgazette.com
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