Take-up

Take-up in Bristol during the first half of the year totalled 211,653 sq ft, and was achieved through 44 transactions, on par with the H1 five-year average. Although H1 take-up was down 17% on the five-year H1 average, it was 13% higher than the second half of 2024. Meanwhile, Q2 2025 take-up totalled 118,658 sq ft and was 21% higher than the five-year Q2 average.

Grade A and Prime take-up during H1 2025 totalled 98,889 sq ft and accounted for 47% of the overall total. The combined total is 1% above the same period in 2024 and also 24% above the H1 five-year Grade A and Prime average.

Supply

Availability in Bristol at the end of Q2 2025 stands at 1.97 million sq ft, a decrease of 4% on the previous quarter. This means that the vacancy rate has also decreased by 50 basis points (bps) to 9.5%, highlighting the constrained supply of office space in Bristol.

Grade A and Prime availability have also decreased by 2% and 9%, respectively, and now total 326,296 sq ft and 172,653 sq ft. The combined vacancy rate for Grade A and Prime has decreased by 30 bps on the previous quarter, and now stands at 4%.

Take-up by business sector

The most active business sector during H1 2025 was the 'Property Company, Development and Construction' sector, which leased 48,999 sq ft and subsequently accounted for 23% of the total. There were six transactions in the sector, with Unite acquiring the largest for a total of 22,000 sq ft at the Welcome Building.

Another active sector was the 'Insurance & Financial' sector, accounting for 14% of the total. The sector leased a total of 29,193 sq ft, also through six transactions, with Gallagher taking 14,179 sq ft of space at Temple Circus, the largest deal of the sector.

Rents

There was another increase in Prime headline rent in the first half of the year in Bristol, which has now reached £49 per sq ft, and was achieved at the Welcome Building in Q2 2025. This represents an increase of 2% on the previous headline of £48 per sq ft, with Bristol continuing to have the highest Prime rent across the UK Big 6 markets. The city has experienced Prime rental growth of 31% since the end of 2019, with further growth projected in the next five years, with Prime supply constrained. It is anticipated that Bristol will achieve £54 per sq ft by 2027, if not before, representing an increase of 10% on current rental levels.

Interested in other areas of the UK?

View all of our latest H1 2025 occupational office data research here.

Further reading:

Spotlight: Bristol offices – summer 2025