Market report indicates now is best time to move offices to Bristol
If you're thinking about an office relocation to Bristol then you might need to act sooner rather than later.
Commercial property firm Savills have just released their UK Office Market Report which indicates that now might be the best time to move to Bristol offices. The report shows that many of the UK's commercial regional markets, such as the Bristol office market and the Manchester office market, could face a challenging 2011 due to a lack of Grade A office space.
The recent economic downturn caused a number of major office space developments to be mothballed up and down the country and, while activity is starting to pick up in Central London, many other regional office markets remain stagnant. The firm predict severe shortages of Grade A office space in key regional cities such as Bristol, Glasgow and Birmingham, with rents for existing office properties rising steeply as a result.
Savills believe that it could be another 12-18 months before the regional office market starts to recover and predict that cities which have a weak private sector and an uncertain public sector will take the longest time to recover.
Industry experts are now urging businesses who may be considering moving offices to Bristol or any other UK regional town to make the relocation now before the office space shortage becomes too severe.
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