Bristol in record commercial office year - commercial mortgages

19 February 2008

Last year was a record year in Bristol for the office sector, it has been revealed.

The combined take-up of office space in the city centre and out-of-town was revealed in a report by consultants CB Richard Ellis, which showed that while investment in the city was lower due to the credit crunch, the level of lettings surged.

During 2007 the take-up of city centre office lettings space was 896,600 sq ft, compared with 506,600 sq ft in 2006, while during the same period out-of town take up rose from 270,900 sq ft to 410,500 sq ft.

In additional news which may interest those with commercial mortgages, rents continued to rise through the year, with the highest rent being £27 per sq ft, a figure the report says will rise this year.

Further evidence of a busy commercial property sector in the south-west region has come from Exeter, where law firm Stones Solicitors has said it is planning to expand, with commercial property being one of the areas where its workload has increased, reports the Exeter Express and Echo.