Flex space UK Research | 25 Bristol Market overview
Bristol has a relatively small volume of flexible workspace; the 323,000 sq ft equates to 2.4% of total built stock. While Bristol may not be as mature as some markets, it is high on operators’ lists of priorities and expansion is expected over the next 12 months with a number of new centres already committed to opening during 2019.
Regus & Runway East (who selected Bristol as its first location outside of London) have both secured units over 30,000 sq ft in recent years while Origin Workspace will open 42,000 sq ft in the city during 2019. Bristol has experienced a shortage of office supply in recent years, but this is now being addressed with close to 300,000 sq ft of new build space currently on site.
While much of Bristol’s flex space has been traditional serviced offices there is growing demand for co-working space on the back of Bristol’s fast-growing tech sector. Temple Quarter, one of the largest urban regeneration schemes underway in the UK, is likely to be a focal point for much of the tech activity.
Flex take-up, 2014-18 100
20 40 60 80
0 2014 Source: JLL 2015 2016 Bristol flex take-up 2017 2018 1Relates to office-based proxy sectors Demographics (Primary Urban Area)
Population 745,500
Numbers employed in technology
(Primary Urban Area) 26,325 Self employed1 (Primary Urban Area) 17,300
Key flex transactions 2017-2019 Operator
Origin Workspace Regus
Runway East Desklodge Ltd
Ethical Property Company Source: JLL
Adress
40 Berkeley Square Lower Castle Street 1 Victoria Street Unum House
The Paintworks
Size, sq ft 42,000 34,000 30,148 28,732 20,738
Largest operators Operator
Regus Desklodge
Origin Workspace*
Runway East Orega
Source: JLL Flex market
Flex office stock 323,000 sq ft
Average flex operator size
21,500 sq ft
Flex share of office stock
2.4%
Space occupied, sq ft No. of locations 83,760 52,285
3 2
42,000 30,148
26,000 *opening soon
1 1
1
Sq ſt thousands
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