Bristol faces a severe shortage of office stock, with supply falling 21% since the start of the year, according to research by Savills.
There is 585,513 sq ft of space available in the city centre, down from close to 3m sq ft in 2010. Savills said rents are expected to rise above £30 per sq ft by the end of the year as a result.
A shortage of stock has also meant that take-up has been relatively muted at 264,627 sq ft in the first half of the year – just under the 286,371 sq ft average since 2006, and 31% below H1 2016.
Although Savills said there is still strong demand for the Bristol investment market, transaction volumes have also come under pressure from low supply, falling 80% year-on-year to £56m in H1 2017.
To send feedback, e-mail karl.tomusk@egi.co.uk or tweet @ktomusk or @estatesgazette
