Insight – Commercial Property to rent in Bristol
Thinking of moving, expanding or setting up your business in Bristol? Boxpod has been exploring Bristol and the South West for offices to let, workshops and industrial units to rent and shops, retail and storage units on the market.
Better act fast, however, as it’s a battle over supply and demand. Commercial property consultant, Knight Frank in Bristol is reporting an 8.3 per cent rise in rents on industrial units in the first half of 2017.
Partner at Frank Knight in Bristol, Russell Crofts said: “Two main factors are contributing to the acute lack of available industrial properties. The industrial property sector is undergoing a structural change because of the internet revolution, with enormous demand for modern premises well–located to deliver orders quickly and efficiently.
“Coupled with this has been the ongoing lack of new industrial construction. Some speculative development in the Bristol area is at last underway and this will provide space for occupiers to move, with secondary growth set to follow. However, little of it has reached market yet.”
Prime headline rents per sq ft for industrial premises over 50,000 sq ft in the South West to rent were £7 in greater Bristol.
Russell Crofts adds: “Supply is now approaching critical levels. Whilst those landlords investing in refurbishment are being well rewarded there remains scope for more speculatively-built, traditional units in many locations.”
See our current up to date listing of industrial units and workshops to let in Bristol
Longford Investments has shared industrial units and workshops to rent in Brislington, Bristol BS4. POA for the 11848 sq ft available
M7 Real Estate has 1994-3138 sq ft of industrial space and workshops to rent in Avonmouth, BS11. POA. It also has commercial units to rent in Bristol BS32. POA
It’s a similar picture in the Bristol Property Outlook for 2017 from Cushman & Wakefield, published recently.
It reveals that the commercial property market in the South West has continued to thrive despite political and economic uncertainties including those resulting from Brexit.
Head of investment at Cushman & Wakefield’s Bristol office, Nick Allan said: “We expect a busy 12 months going forward with strong rental growth in evidence in both the industrial and Bristol city centre office markets, and investor interest, including international capital, remaining strong. The latter being evidenced by Cushman & Wakefield’s sale of Accolade Park in Bristol for £62million to a consortium of South Korean institutional investors.
“The region will continue to suffer from build cost inflation, which could hold back the supply of much-needed new space within the regional economy. We feel that, as in past cycles, brave developers who commit to providing space will be rewarded with strong tenant demand and financial exits.”
Looking to the future, Head of global occupier services at Cushman & Wakefield, James Maddock believes we all need to watch out for the impact of “The GIG Economy2” – looking at technology, disruptors, sharing and new work practices and the exponential speed of change in technology and society. Watch this space…
See our current up to date listing of offices to let in Bristol
Bruton Knowles has a 922 sq ft office to rent in BS1 for £16,135pa and a 1900-2724 sq ft office to rent in BS1 for £33,250pa. In BS32 it has a 770-1765 sq ft office unit to rent for £6,545pa
RMW Knight has 2045-4776 sq ft of office space to rent in BA5 for £20,000pa
If you have commercial property to let or sell in Bristol, advertise it with Boxpod. If you are looking to rent or buy commercial property in Leicester, use our easy postcode search facility.