• Swindon & Wiltshire Property
• Monday February 23 2026

Lack of supply triggers office rent increases in Bristol

A shortage of office space in Bristol is leading to soaring rents, according to a new report.

According to Avison Young’s latest Big Nine Report, annual take-up of workspace in and around the city reached 926,000 sq ft last year – 21 per cent above the five-year average and eight per cent above the 10-year average.

In the city centre alone, 604,000 sq ft of space was taken up.

Prime rents held at £50 per sq ft, with Bristol remaining the Big Nine’s highest-rented market, ahead of cities including Birmingham, Cardiff, Edinburgh, Glasgow, Leeds, Liverpool, Manchester, and Newcastle.

The largest city centre transaction in six years was Hargreaves Lansdown moving from its HQ after 40 years.

the finance firm, which employs 2,000 people, signed a long-term lease for more than 90,000 sq ft across three floors at Welcome Building,

Meanwhile, law firm Burges Salmon regearing its lease and expanding by acquiring an additional 41,600 sq ft at One Glass Wharf.

Julian Watts, managing director, Bristol and South West at Avison Young, said: “Bristol continues to stand out as one of the strongest-performing cities within the big nine.

“The office market delivered an exceptionally positive year in 2025, marked by record headline rents in both the city centre and out-of-town markets.

“A major highlight was the largest city centre transaction in six years, with Hargreaves Lansdown committing to 90,000 sq ft at the Welcome Building.