Bath has significant latent demand and a lack of Grade A office stock to fulfil it. There is a shortfall in the availability of office stock to meet larger requirements in the city.
The recent refurbishment of 20 Manvers Street is testament to this demand for high quality space with rents reaching £31 per sq ft. This represents the highest recorded office rental value in the region, eclipsing Bristol.
The Bath Quays North development will therefore address and capitalise on this shortage of supply.
Bath has a strong mix of affluent residents, tourists and a large student population as well as a strong and diverse retail offer and complementary mix of businesses, resulting in considerable retail demand.
Retail rents are among the highest in the South West. A1 Zone A retail rents are currently in excess of £200 per sq ft and A3 rents in the city have achieved up to £50 per sq ft. With stock limited in the city centre, there is significant demand from retailers for accommodation.
Bath Quays North will build on the success of the city, offering a unique riverside location for retailers.
Bath is renowned as a highly desirable place to live and work and the city’s residential market reflects this.
The city is achieving some of the highest sales values in the South West, reaching up to £1,000 per square foot in prime locations. Residential property in Bath represents good value compared with Oxford, London and other locations in the Thames Valley. Demand is strong from a broad spectrum of purchasers and there is considered to be a good opportunity for investment growth.
The Bath Quays North development has the potential to provide a mix of high value riverside apartments and city living apartments within the body of the site.