Co-working provider buys site in Bristol city centre
A South West office and coworking provider has bought at site in the heart of Bristol city centre. Block's expansion marks a significant milestone for the company, which already operates sites in Plymouth and Taunton.
The new Bristol location will see four floors and 20,000 sq ft at Oval Real Estate’s Fairfax Building offering new facilities, flexible membership options, outdoor terraces and a community atmosphere. Just off Wine Street by Castle Park, the site provides easy access to transportation links and local amenities.
Block's Managing Director, Ben Cheriton said: “Block is an office business that is all about people and helping businesses move forwards. We are dedicated to providing market-leading coworking and office spaces that cater to the evolving needs of modern professionals."
Oval Real Estate’s Founder, Nick Prior, said: “We have signed a long lease with Block as we believe that they will deliver best in class space in what is now a best in class building. Collectively we aim to provide an offering otherwise not seen in the Bristol market.”
Block will work alongside Bath-based fit out contractor, Interaction, which will take three months to complete, with first tenants expected to occupy the stunning space in October.
The coworking industry in the UK has seen remarkable growth in recent years. According to industry reports, the coworking market has been expanding at an average annual growth rate of more than 21 per cent since 2021. Bristol in particular has emerged as a coworking hotspot. According to a report published by office retail agency, The Instant Group in March of this year, occupancy in the city centre has increased from 81 per cent in Q1 2023 to 86 per cent in Q1 2024.
