2024-02-02-莱坊-UK_Cities_Bristol_Q4_2023_1页_268kb

Bristol Office Market Q4 2023 Summary

Q4 2023 saw moderate activity in Bristol's office market, with a take-up of 193,183 square feet driven by the Technology, Media, and Telecommunications sector. The vacancy rate for Grade A offices was 7.0%, indicating a balanced demand and supply environment. Prime rental rates stood at £42.50 per square foot in the last 12 months, with forecasts suggesting an increase to £45.00 by the end of Q4 2023. Prime yields experienced a decrease, with QTR vs 10-year comparisons showing -21%, reflecting lower returns in the quarter.

Investor profile highlights a dominance of private investors at 59%, followed by property companies at 32% and overseas investors at 9%. Market data includes city centre upgrades from PA 2023-2027, with an example transaction involving George's Square, sold for £49.5 million to a private investor, occupying 66,317 square feet.