Demand for office space in Bristol city centre has been so strong this year that take-up has already exceeded the total for the whole of 2015, new figures show.
And with a number of large inquiries in market, the total for this year is expected to easily beat the five-year average, city property agents believe.
At the same time, they expect the buoyant demand and dwindling amount of Grade A space to lead to a new record rent for the city. 
Latest figures show a total of more than 515,000 sq ft was taken up in the city centre in the first nine months of this year, compared to 490,000 sq ft for the whole of 2015.
Colliers International’s national offices director James Preece said Bristol city centre take-up to date was now 24% above the five-year average.
“Despite Brexit and the summer holiday period, the Bristol office market has had another solid three months of take up,” he said.
HMRC’s need for 115,000 sq ft of office space is likely to be met by a pre-let deal at 3 Glass Wharf at Temple Quay, while consulting engineering group Arup has a requirement for 40,000 sq ft.
The firm is expected to relocate to Redcliff Wharf in a move that could set a new headline rent for the city of £30 per sq ft, according to the Bristol office of Bilfinger GVA.
The much-delayed approval of the Hinkley Point C nuclear power plant near Bridgwater has already benefited Bristol, with French energy giant EDF taking space at Bridgewater House at Finzels Reach.
Ultra fast-growing energy supplier Ovo completed the largest deal of the recent quarter, taking 23,000 sq ft at Templeback as it continues to outgrow its Temple Quay HQ.
By the end of the year the Bristol city centre office market is expected to comfortably exceed the five-year average of 533,000 sq ft.
Richard Kidd, director of office agency at Bilfinger GVA in Bristol said overall sentiment remained “very positive” in the city centre with a number of new refurbishments nearing completion including 1 Brunswick Square, Freshford House, 21 Prince Street, Augustine’s Courtyard and 31 Great George Street.
“These high-quality refurbishments demonstrate confidence in the market and will continue to provide high spec space to occupiers, capitalising on the continued low levels of grade A and good grade B stock in the city,” he said.
“In addition, Bristol has seen the first speculative office development of 2016 with Cubex Land’s development of Aurora at Finzels Reach, which will provide 95,000 sq ft of grade A space and is targeted to complete in the fourth quarter of 2017.
“Demand for regional offices, having returned to pre-recessionary levels over the past three years, will continue, albeit with a short-term drop in activity as the market comes to terms with the medium term implications of Brexit.”
