Bristol's ripoff rents more expensive than Washingon DC

Massimo suburbanstudio at
Tue Jun 17 14:45:04 BST 2008

Bristol rents more expensive than Barcelona

By Jennifer Rigby

Office rents in Bristol are higher than those in Washington DC, Munich 
and Barcelona, according to new research from Knight Frank.

Prime rents have reached £27.50/sq ft in Bristol according to Knight 
Frank’s Global Real Estate Market Annual Review.

The West End of London remains in top place with rents at £110/sq ft, 
followed by Moscow, Tokyo, Mumbai and the City of London.

To see the full list :

The report said: ‘Since the summer of 2007, the effects of the 
international credit crunch have dominated headlines about European 
commercial property markets. However, despite the climate of 
uncertainty, most occupier markets continue to exhibit positive dynamics.

'Office vacancy rates are still falling in many locations, while the 
limited availability of prime city centre accommodation across Europe 
continues to push rents upwards.’

Tony Nicholas, managing partner, Knight Frank in Bristol, said: 'Despite 
the projected climate of the UK economy, Bristol is performing well. In 
2007 there was a sharp rise in Bristol’s office rental growth - nearly 6%.

'This rise reflects the continued strong demand from occupiers 
contrasted against the shortage of prime office space available and 
further demonstrates the resilience of Bristol’s diverse economy.

'Q1 2008 take-up figures show that demand for office space in Bristol 
remains high.

City centre take up for 2008 totalled 169,098 sq ft, with out of town 
take up totalling 96,186 sq ft. Both levels are comfortably above Q1 
average office take up figures over the last five years. We anticipate 
similar take up in Q2 also.’

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