Bristol office market roundup
Take-up rises year on year
Take-up in Bristol at the end of Q4 2025 totalled 164,699 sq ft, 62% higher than Q4 2024 and on par with the five-year Q4 average. This brought the end-of-year total to 604,119 sq ft, achieved through 110 transactions — 16% above the five-year annual average. Take-up was 37% above 2024 and 20% above the five-year average. It was also the highest annual total since 2022.
Grade A and Prime take-up totalled 328,636 sq ft in 2025, 80% higher than 2024 and accounted for 54% of the total 2025 take-up. This was achieved through 36 transactions, nine more than in 2024.
Availability continues to fall
Total availability at the end of Q4 2025 stands at 1.14 million sq ft, a decrease of 13% on the previous quarter. Due to an update of total market office stock to incorporate new development, the vacancy rate is now calculated at 8.8%.
Grade A and Prime availability total 135,000 sq ft and 298,000 sq ft, respectively. Grade A availability has decreased by 5%, while Prime has increased marginally by 1% due to refurbishments coming within six months of completion. The Grade A vacancy rate now stands at 1.0%, with Prime at 2.3%.
Insurance & Financial occupiers continue to lead take-up
The ‘Insurance & Financial’ sector was the most active in 2025, accounting for 24% of total take-up. The sector leased a combined 147,507 sq ft across 14 transactions, with Hargreaves Lansdown acquiring the largest letting of the sector at the Welcome Building, totalling 90,000 sq ft.
This was also the second largest letting for the sector on record, and the largest since 2007. Another notable sector during 2025 was the 'Professional' sector, with a total of 103,777 sq ft leased.
There were 16 transactions in the sector, which saw Burges Salmon commit to an extra 41,565 sq ft at One Glass Wharf, therefore taking a total of 216,172 sq ft and solidifying its position as the largest occupier in the city.
2025 take-up was 37% above 2024 and 20% above the five-year average, continuing to show the strength, depth and robust nature of the Bristol office market
Christopher Meredith, Director, Office Agency
New increases in headline rent
There have been consecutive quarter increases in 2025, with another increase in Prime headline rent achieved during Q3 2025 in Bristol, with the city now reaching £50 per sq ft.
This was achieved by Birketts at EQ and represents a 2% increase on the previous headline rent of £49 per sq ft. Bristol continues to have the highest Prime rent across the UK Big Six markets.
The city has experienced Prime rental growth of 33% since the end of 2019, and further growth is projected over the next three years, with Prime supply increasingly constrained. It is anticipated that Bristol will achieve £60 per sq ft by 2028, if not before, representing an increase of 20% on current rental levels.
Find out more about Bristol's property market here.
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