Property firm acquires first site in Bristol

A South West office and coworking provider has announced the acquisition of its newest site in the heart of Bristol city centre.

This expansion marks a significant milestone for BLOCK, which already operates award-winning sites in Plymouth and Taunton.

The new Bristol location will see four floors and 20000 sq. ft at Oval Real Estate’s impressive Fairfax Building turned into Bristol’s newest office and coworking space, offering state-of-the-art facilities, flexible membership options, outdoor terraces and a vibrant community atmosphere.

Situated off Wine Street by Castle Park, the site provides easy access to transportation links, local amenities, and the dynamic business environment that Bristol is renowned for.

Coworking spaces like those offered by BLOCK, are transforming the way professionals work, with key benefits including flexibility, workspace cost-efficiency, the opportunity to network in a community of like-minded professionals, plus access to membership perks such as event spaces and health and wellbeing facilities.

With a proven track record of success, both existing  BLOCK sites have over 90% occupancy and have gained industry recognition, including ‘Best New Business’ at the 2023 Notty Awards in Exeter and ‘Project of the Year’ at the 2023 Michelmores Property Awards.

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. ​​ ​​

“BLOCK is consistently striving to push the boundaries of innovation and ambition – always moving forward, so to complete this deal represents a great step in the next chapter of our story.

“We’re creating vibrant communities for individuals and businesses to thrive, offering stylish and dynamic spaces with personality and character, ensuring that our members feel welcomed and encouraged. We prioritise the well-being and satisfaction of our members through genuine interactions, community-driven events and delivering an efficient and professional service – and look forward to bringing this to Bristol city centre.”

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.”

The legal process has now concluded, and BLOCK will work alongside Bath-based fit out contractor, Interaction, in delivering its unique offering. The fit out will commence immediately and 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 21.3% 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% in Q1 2023 to 86% in Q1 2024, demonstrating the local industry’s upward trajectory. 

BLOCK will be offering exclusive launch promotions and hosting open house events pre-launch where they will invite interested businesses, freelancers, and entrepreneurs to tour the facilities, meet the BLOCK community and discover the benefits of coworking.