MyCity Bristol

THE GLOBAL FINANCIAL CRISIS HAD A PROFOUND IMPACT ON DEVELOPMENT IN BRISTOL, PUTTING THE BRAKES ON VARIOUS PROJECTS, INCLUDING THE CITY’S FLAGSHIP MIXED-USE DEVELOPMENT, FINZELS REACH. Finzels Reach is now one of the most popular business and living locations in the city due to its truly mixed-use nature and blend of new and historical buildings. The site is steeped in history, including use as a sugar refinery and later a brewery, and is home to the Grade II* Generator Building which formerly powered the tram system and is now a coworking facility operated by Clockwise. Bristol’s most significant office development in terms of scale, Temple Quay, started in 1998 after it was eventually handed over to English Partnership. The scheme predominantly consists of corporate office accommodation with a large public sector and professional services presence, including HMRC, Burges Salmon, PwC, and OVO Energy. Development continues to this day, with the final plot of land delivering a new 200,000 sq ft speculative build, ‘The Welcome Building’, due to be completed in 2024.In 2013, the introduction of Permitted Development Rights (PDR) resulted in around 1.5m sq ft of office buildings being redeveloped for alternative uses, including residential, build to rent and student accommodation. This was also a significant catalyst for change in the city centre office market, shifting the location and supply dynamic back in favour of landlords.

The most significant addition to Bristol’s retail offering in the last 20 years is Cabot Circus; which opened in 2008 following a 10-year planning and building project costing £500m. The 1m sq ft shopping centre achieved a BREEAM award on completion and is best known for its unique domed glass panel roof. At a similar time, the Harbourside development, a brownfield site of former docks and gasworks on the edge of the city’s floating harbour was regenerated into a mixed-use development led by residential, office and leisure uses, with significant public realm including new streetscapes, waterfront walks and open spaces. The Harbourside also landed some significant office occupiers and is still home to Hargreaves Lansdown, Lloyds Banking Group and CMS. In more recent years, Bristol’s thriving food and independent retail scene has been successfully integrated at the heart of schemes such as the mixed-use Wapping Wharf development, which utilises former shipping containers to create a unique user experience. The opening of Box Park’s first venture outside of London – Box Hall – will also help to satisfy the considerable demand for this type of amenity in 2024.

BRISTOL AREA HOUSING COMPLETIONS

5000

4000

3000

2000

1000

1996 - 1997

2021 - 2022

2015 - 2016

2010 - 2011

2005 - 2006

2000 - 2001

DELIVERY TARGET

BRISTOL AREA (inc North Somerset and South Gloucestershire

SOURCE: DLUHC

BRISTOL COMMERCIAL FLOORSPACE INDEX (2001 = 100)

120

115

BRISTOL COMMERCIAL FLOORSPACE, 2022

110

OFFICE

OTHER

RETAIL

OTHER

RETAIL

105

100

TOTAL

95

INDUSTRIAL

OFFICE

90

INDUSTRIAL

2001

2005

2010

2015

2020 2022

SOURCE: VOA

SOURCE: VOA

16

17

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