JLL acts alongside Knight Frank for Royal London Asset Management to bring office development to 90% let or under offer
The Distillery, a major office development in Bristol, continues to attract tenants, with another 21,000 sq ft of deals completed and agreed so far this year. This brings overall occupancy to 90% let or under offer, demonstrating the strong demand for high-quality, sustainable office space in the city.
Among the recent deals are PA Consulting Group, SNC Mission UK Ltd, Ramboll, and Armadillo CRM. These four additions contribute to the diversified tenant mix at The Distillery which includes Canada Life, Pax8, IOPP, and Clyde & Co. These established brands have recognised The Distillery as a prime location for their respective businesses.
Additionally, some of the remaining space is also under offer, indicating that the momentum of leasing activity at The Distillery remains strong.
With only approximately 10,000 sq ft (circa 10% of the building remaining) available for lease, the appeal and desirability of The Distillery are evident.
The building offers some of the newest and most sustainable space available in Bristol, with impressive credentials including an EPC A rating and a BREEAM Excellent certification. The development boasts state-of-the-art amenities including dedicated changing facilities, showers, lockers, and a partly covered ‘internal street' break-out area with seating and greenery. This emphasis on sustainability and employee wellbeing aligns with the growing demand for environmentally conscious and employee-centric workspaces.
The success of The Distillery has prompted Royal London Asset Management, the development's owner, to move forward with plans to submit proposals for the construction of 3 The Distillery. This next phase of development will provide over 130,000 sq ft of additional sustainable office space for the city. Currently, the supply of office space in Bristol's City Centre remains at an all-time low, with levels around 4%, the new development will be crucial in meeting the growing demand.
Hannah Waterhouse, Director - Office Agency at JLL said, "We are excited to see the continued success of The Distillery as it attracts more high-calibre tenants. The strong demand we have experienced reaffirms the need for sustainable and well-designed office spaces in Bristol."
Arabella Pollock, Asset Manager at Royal London Asset Management added. "These recent lettings at the Distillery are testament to its exemplary design and best-in-class environmental credentials."
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYS. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Royal London Asset Management
https://www.rlam.co.uk/