Letting leaves Bristol short of grade A floor space

Posted on by John Cronin

A new letting of a floor within a new office scheme in Bristol has left the city short of available Grade A floor space.

St Catherines CourtDevelopers Ashfield Land have announced the letting of the second floor of their St Catherine’s Court scheme (pictured) to international assurance group Lloyd’s Register. The firm has signed a 10-year lease for the 6,987 sq ft floor within the building. Quoted rental prices are £28 / sq ft.

According to agents Alder King, this latest letting has left the Bristol offices market short on availability for Grade A floor space. Simon Price, partner at Alder King said: “There is only one Grade A building currently under construction in Bristol and as a result of this and other recent deals, the amount of top quality space that is now available is extremely limited”.

St Catherine’s Court, completed in 2009, has only the 6,805 sq ft top floor available for immediate occupation. The BREEAM rated ‘Excellent’ speculative scheme was the first new-build office in the Clifton area of Bristol in over 20 years. The 5-storey building offers total floor space of approximately 31,000 sq ft along with basement car parking.

Another Bristol office scheme with a troubled history was sold yesterday in a multi-million pound deal. Aerium, the European real estate fund manager, purchased the speculative One Glass Wharf scheme from the administrators for £83m. The 215,000 sq ft scheme came to market last September. Reports indicate that the offices have a current occupancy rate in excess of 80%.

Marketing agents for St Catherine’s Court are Alder King and WGH Property.

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