A high-profile office building in Bristol city centre is now fully occupied for the first time since before the recession.
The two new lettings at 10-22 Victoria Street – a five-storey building with 47,000 sq ft of grade A office space near Bristol Bridge – reflect spiraling demand for quality office space in a rapidly recovering market, according to property agents.
Taking the entire third floor of just over 11,000 sq ft on a new 10-year lease is the Shaw Trust, UK’s largest third sector provider of employment services for disabled and disadvantaged people.
The Trust is joined by Places For People Homes, one of UK’s largest property and leisure management and regeneration companies, which is moving into an 8,040 sq ft suite on the fourth floor, also on a new 10-year lease. Both will paying more than £18 per sq ft.
Natalie Bennett of agents Hartnell Taylor Cook, which represented the landlords jointly with JLL, said: “The demand for offices providing high-quality space at a sensible rent is very strong but there is a limited stock and space is letting quickly in buildings such as 10-22 Victoria Street. The building is now fully let for the first time since 2007.”
The historic building was bomb-damaged in World War II and left derelict until it was restored by Bristol property development firm Deeley Freed more than 10 years ago.
Its Grade II listed façade was preserved with new prime office space constructed behind. The building was then let to law firm Beachcroft and later sold by Deeley Freed to Lothain Pension Fund. Beachcroft has since moved to Portwall Place.
