CBRE Bristol completes three major commercial property deals28th October 2013

The Bristol office of property advisers CBRE is celebrating concluding a number of major commercial property deals in the city as the upturn in the Bristol office market looks to be gathering pace.

CBRE’s latest report has revealed take up of office space in the city centre to be 138,187 sq ft for the third quarter of 2013, helped by the first Grade A deal of the year that saw Barclays Bank take 18,759 sq ft at Bridgewater House on Finzels Reach. The firm vacated its previous offices on Queens Square and at Parkway North to combine staff into one modern city centre building.

Philip Morton, Head of Office Agency & Development at CBRE Bristol, said: “We are delighted to have acted for Barclays and helped secure space at one of the best buildings in the city centre. The flexible lease on a single floor will allow the firm to integrate different projects by expanding or contracting on each floor depending on the size of the project.”

CBRE also handled the deal that saw Semperian relocate down from London and in from Bath as the company took 10,084 sq ft on the third floor of Broad Quay House on flexible terms. Philip Morton said: “Semperian’s new office overlooks the floating harbor and is right at the heart of Bristol’s business district. It is particularly pleasing to have been involved in such a major inward investment deal for Bristol.”

The Office Agency team at CBRE has also played a pivotal role in promoting the recent £2m refurbishment of the 120,000 sq ft office building at 101 Victoria Street. The revamp included the installation of a four pipe fan coil air conditioning system throughout the building, which was a major logistical challenge because it needed to be fitted around existing tenants.

Despite this, CBRE was able to secure the renewal of 15,000 sq ft by law firm TLT with the firm stating that the success of the refurbishment project was one of the main factors behind its decision to stay put.

CBRE’s report reveals total take up of office space in Bristol city centre so far this year to be 427, 673 sq ft, as compared to 409, 225 sq ft during the same period last year.