In last year’s review, our outgoing President described Bristol as “Rising to the challenge of uncertain times”. Twelve months on and some uncertainties remain… particularly at global and national levels. But, for Bristol at least, 2025 has seen exciting progress on so many fronts. Moreover, as many of the articles in this year’s newsletter set out, we are on the cusp of some major developments that will re-gear our economy and help us fulfil our potential as a regional and international economic powerhouse.

Critically, our members are playing a huge role in enabling these advances. We are advising on major new developments, facilitating investment and fostering the sectors that will drive future expansion and employment.

The developments shaping our city

In this year’s review, we talk directly to some of the key protagonists in that growth. At Brabazon, YTL is making huge strides with its hugely-ambitious 400-acre “new town”. On Harbourside, we hear from the new owners of Bristol’s former Lloyd’s HQ on their plans to make the iconic building and plaza the centrepiece of a vibrant new waterfront.

We also have an in-depth interview with Bristol’s Director Economy of Place which sets out the council’s priorities and plans for the future. As North Somerset looks to move back into the WECA fold, we learn more about the major projects underway there that will stimulate growth and investment in the wider sub-region.

There are updates on the schemes revamping Broadmead for a mixed-use future and we learn about the investments bringing forward the £4 billion regeneration of Temple Quarter, expected to bring £1.6 billion annually into the city’s economy.

Sector analysis

Alongside that, we analyse how the individual property sectors fared over the last 12 months.

Once again, logistics generated the biggest deals; and, together with PBSA, the largest investments into the city. 2025 saw over 4.3m sq ft of space transacted – comfortably a record – as some big names committed their future to Severnside.

Offices too enjoyed a buoyant year for transactions, both city centre and out of town, and the “flight to quality” amongst our high-skill employers saw rents breaching the £50psf barrier.

Residential agents had another busy year as the city continues to attract skilled people, while retail agents have been ushering some big names into Bristol.

All that said, some issues affecting the national economy as well as our own remain unresolved, and are impeding what would otherwise be even more stellar growth for the city.

Reassuringly, build costs have steadied somewhat; but, combined with stubbornly high yields, are making development unviable in the city centre for some sectors. No new office developments are set to start in 2026, but as one door closes that leaves the way open for landlords with stock that can be profitably refurbished.

The same factors are holding back city centre residential development, making the challenge to house the city’s growing population increasingly problematic. That, plus the exodus of many private landlords, continues to fuel rental growth. The brighter news here is that negligible price rises over the year have made house purchases more affordable – with the prospect of further mortgage rate reductions in 2026.

How we are viewed as a home for investment is often a good barometer of our economic wellbeing, and there have been some sizeable transactions across the year – albeit mainly focussed on “sheds and beds”. Moreover, there are hopes that yields across most market sectors peaked during 2025.

An influential voice

As the interview with Alex Hearn makes plain, BPAA members are also having incredibly productive meetings with the City Council – and it’s impossible to overstate how important this is. By taking on board the concerns and priorities of councillors and planners, as well as setting out our clients’ case for sustainable development, we can arrive at solutions that work for everyone.

This last year we have had fruitful discussions with other councils in the sub-region, as well as the new Mayor of WECA’s team – acting as a conduit for the clients we represent and being seen as honest brokers keen to help achieve sustainable growth.

During the year, in conjunction with Business West and led by Russell Crofts and Simon Price, we commissioned a report on employment land use locally, which fed into the local plan.

Outside of work…

The BPAA, of course, is not all work and no play. This year we have held more sports and social events than ever before – many shared with other property professionals in the city. As well as providing networking opportunities, these events have raised invaluable funds for my nominated charity of the year: everyFAMILY. Can I take this opportunity to thank everyone who has made that possible: those taking part, the hardworking organisers and the generous sponsors.

The turnout of our members on the BPAA’s very first volunteering day, at everyFAMILY, was also inspiring.

The BPAA is committed to improving the knowledge of our members too, and we held several CPD events across the year with the likes of Bristol BID, City Leap and the Property Inclusion Charter. And we are nurturing the next generation of property professionals, as the growing roster of activities with UWE and Bristol Works demonstrates.

Finally: can I thank everyone who supported me this year – you know who you are! – and I want to say just how much I have enjoyed the honour of being at the helm of the BPAA. I’ve learned so much, met so many amazing people and been uplifted by the advances we’ve achieved in making our organisation even more pivotal to the progress of our fabulous city.

Hannah Waterhouse,
BPAA President 2025-26