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Freshford House deal highlights why Bristol office lettings will continue despite COVID-19 disruption

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The recent letting of the part ground floor of Freshford House has highlighted that office lettings in Bristol will continue despite the disruption of the COVID-19 pandemic, according to Colliers International.


A healthcare software company has taken 3,833 sq ft in the prominent city centre office building on a five-year lease at £30 per sq ft, in a deal which started during the first lockdown.

James Preece, Bristol-based director in the National Offices team, who negotiated the deal on behalf of the private landlord, said the letting illustrated how factors such as lease events and operational requirements are continuing to drive the Bristol office market, regardless of national or local lockdowns. “The healthcare software company was already a tenant at Freshford House, and the nature of their work meant the company was expanding and required additional office space,” he said.

“Negotiations on the part ground floor space started during the first lockdown and concluded after it had ended. Similar deals may still complete during lockdowns if linked to lease events and operational business needs.

“Companies in Bristol city centre are acutely aware of the limited supply of office space, and they move swiftly and decisively when suitable space becomes available.”

The letting to the healthcare software company is the second deal at Freshford House in 2020 in which Colliers International has acted on behalf of the landlord. A 10-year lease with a five-year break on part of the ground floor, totalling 4,709 sq ft, was negotiated in March, shortly before the start of the first lockdown.

Freshford House is also managed by the Investment Property Management team in the Bristol office of Colliers International.


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James Preece

Director

National Offices

Bristol

I am a Director in the National Offices team based in Bristol and have over 22 years experience.

Having joined Colliers in August 2008 my role has included numerous disposals and acquisitions in the South West for a myriad of clients, from large funds such as Aviva to private individuals.

I previously worked for Bidwells Business Space Agency team in Cambridge (2003 -2008) where I specialised in office and research & development disposals and acquisitions.

Before this I worked for Chesterton International Plc in London. After qualifying as a member of the Royal Institution of Chartered Surveyors in 2001, I remained in the City office agency team.

 

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