The Bristol Office Agents Society has reported another strong quarter for the city centre office market, with Q3 2026 take-up reaching 144,914 sq ft across 26 transactions, outperforming both the five-year average of 118,677 sq ft and the ten-year average of 126,268 sq ft.
The quarter brings total city centre take-up for the first nine months of 2026 to 441,845 sq ft, reflecting continued occupier demand despite ongoing economic uncertainty and a constrained development pipeline.
The largest transaction of the quarter was Arden University’s commitment to 30,274 sq ft at Queens Quay where they took the entire building and notably are a newcomer to our market. Other notable lettings included Hargreaves Lansdown taking a further 26,303 sq ft at Welcome Building and Patch Places’ move to 13,174 sq ft at Armada House. Another inward investment transaction in our market and a demonstration that flex offerings continue to thrive.
The quarter also saw Bristol achieve a new headline rent record of £55.00 per sq ft, following Hargreaves Lansdown’s acquisition of a further floor at Welcome Building. The deal establishes a new benchmark for the city and reflects the continued demand for high-quality office accommodation in prime locations.
Demand continues to be concentrated on best-in-class space, with occupiers increasingly seeking Grade A accommodation that supports modern workplace requirements, employee wellbeing and sustainability objectives. Well-located fitted space also remains attractive to occupiers seeking flexibility and speed of occupation.
While take-up remains healthy, the city centre development pipeline continues to face supply pressures. With no significant speculative developments currently underway, refurbishment projects are playing an increasingly important role in meeting occupier demand.
APAM’s One Friary scheme is due for completion before the end of the year and delivers a much needed 60,000 sq ft of new space to the market, while BlackRock’s Portwall Place refurbishment is on site and scheduled for completion in late 2027. Canons Wharf is expected to commence construction shortly and will provide a significant addition to Bristol’s future office stock.
The out-of-town market experienced a quieter quarter, with eight transactions completing, generating take-up of 28,332 sq ft. Whilst below the five-year and ten-year Q3 averages of 61,240 sq ft and 80,862 sq ft respectively, occupier activity remains selective, with demand focused on high-quality accommodation.
The largest out-of-town transaction was Vesync’s acquisition of 8,365 sq ft at The Chocolate Factory, followed by 365FS Ltd’s move to 6,110 sq ft at Paradigm House, Eden Office Park.
Development activity continues at YTL’s Brabazon scheme, where construction of The Interchange is reportedly ahead of programme. The scheme will deliver 86,300 sq ft of office accommodation above the new Bristol Brabazon railway station and is expected to play a key role in meeting future occupier demand. One Brabazon Gateway is expected to follow, delivering a further 123,000 sq ft of office space as the wider masterplan continues to progress.
Chris Grazier, Partner in Office Agency at Hartnell Taylor Cook, commented: “It’s reassuring to see Bristol continuing to lead the regions in terms of rental growth. Strong rental performance underlines the resilient demand for best-in-class space and the appeal of our market is emphasised by the city successfully securing inward investment in what is traditionally the quieter summer period. This positive market activity should help boost investor confidence going into the Autumn period.”
JLL’s Director in Office Agency, Hannah Waterhouse, commented: “Whilst demand remains modest Bristol benefits from a range of occupier sectors – and we are not overly reliant on any one in particular. We have seen a steady increase in defence related enquiries coming to market which interestingly are becoming more focussed in town as opposed to the traditional out of town business parks around the Filton/ Parkway areas. This has helped keep momentum up certainly in the City Centre and whilst the wider economic and geopolitical climate is challenging we have managed to keep a steady flow of interest in the office market which has been positive”.
Hartnell Taylor Cook’s office agency team advises landlords, tenants and investors on the letting, acquisition, disposal, refurbishment and repositioning of office space across Bristol and the south west. Led by Chris Grazier, Partner and Head of Bristol Office, who was recently named a CoStar Quarterly Deals Winner for Q2 2026, the team combines detailed local market knowledge with a strong track record of delivering results for clients in every part of the office market.
To learn more about how we can help with your office requirements, visit our office agency page.
