Rent for new business space in the South West has risen to record levels as post-pandemic demand continues, new research reveals.
Increases in office and industrial rents have in part been driven by construction cost inflation, but the main cause is demand outstripping supply, according to the latest Market Monitor report by commercial property firm Alder King.
The largest increases were seen in Bristol, where the new headline rent for top-end city centre office stock is now £42.50 per sq ft - up 10.4% from £38.50 in 2021. Gloucester, Swindon and Taunton also recorded substantial office rental growth.
