Take-up of office space in Bristol has
risen above the average of the last five years, in what is a
positive move for the West Country city's commercial property
sector.

Take-up in the first half of the year was 415,000 sq ft, up 10
per cent on the five year, six monthly average. Two large freehold
deals in Bristol city centre have driven this trend, with Bristol
City Council acquiring 100 Temple Street and Imperial Tobacco's new
headquarters on Winterstoke Road.

Improved economic conditions has seen SMEs quick to acquire new
property, with demand for smaller properties on the rise.

Bristol's Tower House has undergone a refurbishment, benefiting
from five new deals. The 14-storey building in Fairfax Street hosts
Media Co, the publishing firm which has merged the former
businesses of BBC Magazine, Origin Publishing and Magicalia.

Other deals include Cardiff-based T2 Business Solutions, who
have expanded their presence in the West
with a three year lease on a 2,000 sq ft property, and Netboss, who
have taken 1,400 sq ft, Quote Source and Comfy Trade Ltd.

Hannah Waterhouse, associate director in the Bristol office
agency team at Jones Lang LaSalle said:

"The take up for the first half of 2013 is really encouraging.
There is strong demand for good value office space in the city
centre from growing companies wanting to take advantage of the good
deals on offer while they still can, as we've seen at Tower
House.

"We're noticing a higher level of enquiries from potential
occupiers due to lease events and improving market conditions and
we are confident that we'll continue to see improvement across the
sector going into next year".

Barclays have recently acquired more than 18,00 sq. ft. of new
office space in Bristol, which will house its Corporate Banking and
Wealth and Investment Management divisions. Martin French, head of
Region for Barclays, said:

"Our move to Bridgewater House will be one of the biggest
investments we have made in property in Bristol and the South West
over the last few years.

"It will offer an excellent environment for both our clients and
our employees in Bristol and the move enables us to bring together
our existing banking operations, while re-locating close to the
traditional heart of Bristol's vibrant business and professional
community."

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