Will it be a ‘watershed’ year for Bristol developments?

Jeremy Richards of JLL

Jeremy Richards of JLL

Business Leader was one of the guests at international property company JLL’s annual South West Property Market review.

A the event, it was predicted that the next 12 months is set to be a ‘watershed’ year in the redevelopment and renewal of Bristol.

A combination of strong economic conditions, improvements to the city’s infrastructure and good performance across all sectors of the property market means all the conditions are in place for Bristol to make great strides in its redevelopment this year.

Jeremy Richards, head of JLL’s Bristol office, comments: “All development happens in cycles and we are now at a point at which Bristol is ripe for further investment and regeneration.

“It comes at a time of major investment into the city’s infrastructure including the electrification of the Great Western mainline, the MetroBus and the reconfiguration of Temple Meads, which are only going to add to the city’s appeal as a place to invest in.

“It’s unusual for all property sectors to be performing so well simultaneously, whether that’s hotels, shops, offices or industrial space, and this means there will be a richer, deeper tapestry of property across the city in the coming years as developments of all types vie for sites.”

JLL is predicting work to start on at least two speculative office buildings in the city centre in 2016 which will help alleviate the lack of Grade A (premier) office space and bring around 200,000 sq ft of space into the pipeline.