CSquared’s office agency team are pleased to announce their 9th consecutive CoStar award for quarterly leasing deal. In what has been a challenging year for the office market, sentiment remains strong in the city centre and Bristol continues to attract new talent and high-profile occupiers to the region. CSquared successfully agreed a deal in Q3 with tech giants Arm who have opened their first South West office in 10 Templeback. We continue to work with clients across a broad range of sectors including OVO Energy, EPIC Systems and WECA for whom we acquired 20,000 sq ft last year.
Despite 2023’s low take figures up to date, in comparison to the city centre three and five year averages, rents have continued to strengthen and are due to reach £45psf by the end of the year / early 2024. The trend for acquiring better quality space in buildings with great tenant amenity and sustainable credentials has been apparent over the last 24 months with deals at One Portwall Square to Haseltine Lake Kempner and AHMM and continued success at 10 Victoria Street which has attracted tenants including Michelmores and XPS Consulting. Demand for ‘prime’ Grade A product remains strong and we are hopeful for increased activity moving into the New Year as we await completion of various buildings and work commences on highly anticipated schemes including The Soapworks, Queens Quay and Temple Circus which will continue to follow the trend for best-in-class accommodation.