City centre take-up reached 401,235 sq ft this quarter, pushing 2014 take-up to a total of 836,858 sq ft, which is well over both the five and ten year averages (both circa 530,000 sq ft).
The largest deal was take-up of 1 Rivergate at Temple Quay by Ovo Energy (69,716 sq ft) which, along with a number of other significant deals, helped increase the average deal size in 2014 to just under 6,000 sq ft.
Although there were also a record number of small deals in the market, this year it was Grade A space which had the majority of take-up at 44%. This result was achieved by a number of large deals rather than a single exceptional one, which has been known to distort above average take-up figures for previous years.
Out of town also had a good quarter, seeing the highest Q4 take-up figures since 2010, although at 91,649 sq ft it was the lowest performing quarter this year.
The total 2014 out of town take-up was 429, 676 sq ft, the highest since 2001 and up on both the five and ten year averages (both circa 320, 000 sq ft).
The largest out of town deal was the 63,858 sq ft taken by TSB at Keypoint which has major positive impacts on the Almondsbury area.
For a detailed breakdown of Q4 2014 take-up by grade, please click here or on Chart 2 to the left of this article.