The Hinkley Point C power station is already having an impact upon the Bristol office market, according to commercial property consultancy Colliers International.
Sector specialists in the Bristol office of the global real estate company have already noted activity from businesses connected to the nuclear power station in Bridgwater.
National offices director James Preece said: “A number of companies linked to the nuclear industry in a support capacity – predominantly in the construction, energy and engineering sectors within the UK and Europe are already negotiating on out-of-town office accommodation within North Bristol.
“Typically these are companies with around 20 to30 staff, which are moving into the area and require accommodation for new regional offices based close to the M4/M5 interchange, which is only about 40 minutes’ drive to Bridgwater, and is also in an area which has a residential hinterland with a good supply of specialist staff.”
He added that businesses had been in contact about office space even before Hinkley Point C was given the go-ahead by the Government earlier this month, and that this was likely to push rents higher.
“We estimate that approximately 10% of out-of-town office enquiries over the last three months have been directly linked to Hinkley Point led requirements,” he said.
“With this higher level of demand and competition for space it is likely that this will lead to an increase in headline rental levels which on average sit between £14 per sq ft and £20 per sq ft.
“We are aware that a number of companies have already gone into serviced offices in North Bristol shortly after the approval of Hinkley was announced, and are now currently seeking conventional office accommodation.”
Latest figures on office rents from Colliers International show Grade A rents in North Bristol at £21.50 per sq ft, with Grade B rents ranging between £12.50 and £18.50 per sq ft.
