Following several years of economic volatility driven by the Covid-19 pandemic, the conflict in Ukraine, inflationary pressure and elevated interest rates, the Bristol office market has performed well throughout 2025 with renewed stability and cautious optimism. Despite the external pressures experienced since 2020, Bristol has continued to outperform many UK regional markets, supported by resilient demand, constrained supply and sustained occupier confidence.
Bristol city centre take up during Q1 – Q3 of 2025 totalled 439,420 and this was made up of 78 transactions. Grade A and Prime office take up reached 266,595 sq ft in Q1 – Q3 of 2025, representing 61% of total activity. This was 122% higher than the same period in 2024, reflecting strong occupier demand for premium space. During this period, there were 30 Grade A and Prime transactions, a 50% increase compared with Q1–Q3 in 2024.
This year, prime headline rents in Q3 2025 in Bristol reached £50 per sq ft, which was achieved by a Burston Cook led deal at EQ, (let to Birketts solicitors) and this represents an increase of 2% on the previous headline of £49 per sq ft. Bristol continues to have the highest Prime rent across the UK Big 6 markets..
The out-of-town market does however continue to lag behind the city centre, held back partly by the oversupply of older, un-refurbished space and impacted further by the resurgence in popularity of city centre offices, where onsite car parking is no longer a priority and employees can readily walk or cycle to their place of work and benefit from an abundance of amenities close by.
In the out-of-town market, good quality buildings continue to perform strongly, evidenced by fully let outcomes at assets such as 1000 Aztec West and 100A Bristol Business Park. Take up for Q1–Q3 2025 totalled approximately 273,000 sq ft, although this figure was significantly boosted by two major transactions: the letting of 87,500 sq ft at 100A Bristol Business Park to Rolls Royce, and EDF’s occupation of 1000 Aztec West. These deals underline the continued demand for high-quality, refurbished out-of-town offices, particularly from occupiers who benefit from proximity to the motorway network and who still prioritise strong car parking ratios, alongside robust ESG credentials.
Environmental, Social and Governance (ESG) standards are no longer a “nice to have” — they are now central to both investment decisions and occupational strategies. Buildings with strong ESG credentials consistently demonstrate lower void risk, higher rental performance and greater investor interest.
What occupiers and investors are prioritising:
Energy performance: EPC ratings, BREEAM targets and overall efficiency
Operational sustainability: Intelligent metering, building control systems and carbon-reduction measures
Health & wellbeing: High quality air circulation, good daylight levels and biophilic design
The role of the office has evolved. For many organisations, the workplace is now an experience — a space that supports culture, learning and collaboration. Amenities are becoming almost as influential as ESG in shaping workplace strategies.
Occupiers are increasingly seeking:
Spaces that reinforce company culture, collaboration and talent development.
On site amenities including cafés, communal areas, meeting hubs, wellness rooms, secure cycle storage and high quality showers and gyms.
Location advantages such as proximity to city centre leisure, lunchtime food options and public transport links
Amenity rich, well located buildings with strong ESG credentials continue to outperform the wider market.
Two key themes are reshaping demand:
Flight to quality – occupiers are prioritising the best space, not the most space
Right-sizing – decisions are driven by cultural fit, productivity and efficiency, rather than simple downsizing
Landlords who invest strategically in quality, amenities and ESG will be best placed to capture rental premiums, while occupiers who plan proactively will gain advantages in productivity, engagement and recruitment.
Burston Cook remains the most active office agency in Bristol, completing more transactions each year over the last decade than any of our competitors. As we enter 2026, our expanded agency team is well positioned to continue delivering exceptional results and market-leading insight for our clients.
There are now strong indicators of healthy demand for retail stock on both the high street and in prime shopping centre areas. Local retailers who remained resilient during the recent economic ups and downs have continued to take space and we are now seeing demand rising from larger national “multiple” occupiers as bricks and mortar stores continue to play a vital role in the retailing experience.
In Bristol, despite the tough and challenging trading conditions of the last 12 months, we continue to receive high numbers of enquiries on retail space. Completed deal volumes remain strong and we are starting to see the shoots of rental growth in some areas, after a prolonged period of falling rents and rent stagnation as retailers became more rent sensitive and landlords adjusted their expectations from historic high rent levels to offer rent levels which are conducive to long term occupation and successful trading.
The majority of take up in Bristol is driven by smaller independent businesses which have long been the mainstay of the Bristol retail market. In particular, properties which offer rent rolls of less than £25k a year combined with no, or low business rates tend to generate the highest levels of demand. We are now, however, seeing a return of some of the larger retailers to the Bristol market, with Marks and Spencer taking the flagship store at Cabot Circus and Odeon Cinemas reviving the long vacant Vue site there, which demonstrates the increasing trend of consumers returning to the city centre for leisure and shopping.
Vacancy levels have fallen in locations such as Park Street and Whiteladies Road, and we are seeing exciting deals happening in these locations too, with Vibro Barefoot and Ripcurl taking space on Park Street. Popular neighbourhood shopping areas such as Clifton Village, Southville and Gloucester Road continue to generate strong demand with rentals holding up well, and in some cases increasing.
There are still high vacancy levels in some areas of Broadmead and whilst some major vacant buildings in these centres are destined for student / residential conversion, the scale of vacancies and the future of these centres can only be addressed by a co-ordinated large scale redesign and development in the coming decades.
Bristol’s other major retail destination, Cribbs Causeway, remains a very popular retail location offering shoppers extensive onsite parking and an excellent mix of high quality shops, within a safe and uplifting shopping environment. New tenancies for Castore and KIKO Milano have led to 100% occupation of the centre and demonstrate its enduring success as a retail centre.
The restaurant sector continues to face testing times and sadly we have seen a number of very good, independent restaurants struggling to stay afloat. This being said, there remains good demand for well positioned units, with some of the best independent restaurants and chains continuing to thrive. The likes of Pasture, Cote, Little French, Wilsons, Bosco, New Moon and Nutmeg remain a sell out as they tick all the essential boxes – atmosphere, service, quality and value. We have completed a large number of delas in this sector in the last 12 months and demand remains strong in Bristol’s thriving food scene.
Whilst we anticipate more retail stock coming back to the market throughout 2025 and into 2026, we are positive that there will be relatively good levels of demand to fill vacant units, particularly in popular city centre and neighbourhood retail pitches across Bristol.
Demand for stock did soften slightly in the months before the November budget, but we are already seeing enquiry levels tick up slightly now that occupiers know the fiscal landscape for the coming year.
Supply levels across most sectors of the Bristol market remain low, but with new build supply levels really low then refurbishment seems to be the focus for landlords. Vacant units are being refurbished and upgraded not only to improve the rent return but also increasingly to improve their energy performance in preparation for future legislation tightening. Supply of immediately available stock is a continuing concern with higher build costs and softening investment yields making the delivery of speculatively built space very difficult for developers.
The new build space that is being bought to the market is typically in out of town locations such as Avonmouth, which works for some occupiers but not others Although demand is healthy, growth in rents and capital values have levelled off somewhat and the seemingly insatiable demand for starter units which developed out of the end of the pandemic has cooled somewhat.
The new rateable values issued by the VOA in November 2025 for April 2026 may well have some effect in the market, as occupiers are likely to see rises in their business rates and this might impact rents and cause some churn as occupiers look to relocate.
Continuing domestic and international economic uncertainty and rising costs means affordability remains a key issue for businesses but has had the knock-on-effect of creating an increased demand for occupier purchase opportunities of properties with vacant possession and this area of the market remains relatively strong due to the low level of available stock.
With a combination of changing global economic conditions, regulatory reform and new entrants to the market providing a wider range of vehicle models, there has been a slightly more positive outlook for the automotive sector. Consolidation and multi-franchise sites remain a trend which allows for repurposing of surplus properties to the likes of self-storage, supermarkets, care homes etc. Ford announced at the start of 2025 that it has terminated 50 more dealerships, meeting its target under plans announced in 2020 to cut its dealerships by nearly half. Transformation from engine to electric continues to define the industry and EVs are becoming more affordable aided by new entrants to the market such as BYD and OMODA. These brands are taking up vacant dealership space and helping to boost the appetite in the dealership investment market.
The accident repair market, in which Burston Cook is active nationally, has been growing over the years driven by several factors including increased traffic density, rising repair cost, higher used car values and a rise in the average driving age. There has been a plethora of M & A activity in the sector over the last couple of years and ARC’s are having to invest in expanding their EV repair capability and keeping up with changing technology and systems in the automotive industry as well as demonstrating their commitment to sustainability.
Our latest quarterly overview of the Bristol commercial market.
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