Bristol witnessed another good year of office investment during 2016
■ 2016 saw a series of bumper deals, with annual take-up in the Bristol city centre market reaching 782,938 sq ft, exceeding the level recorded during 2015 and 29% above the five-year average of 604,860 sq ft.
■ The relaxation of Permitted Development Rights (PDR) has removed a considerable proportion of secondary office stock from the market. At end 2016, office availability stands at 744,000 sq ft in the city centre, 17% below the level recorded at end 2015.
■ The only new build scheme currently under construction is Aurora, Finzels Reach at 95,000 sq ft, which is due to complete during Q1 2018 and could be the first scheme to break the £30 per sq ft mark this year.
■ Bristol has seen yet another good year of office investment during 2016, reaching £324m, 57% above the long term annual average of £207m.
■ Property companies were the most active purchasers during 2016 and invested £130m, more than in any other year and 40% of the total.
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