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Brighton has been one of the most exciting south east office markets in recent years because of its local culture, combination of big business (L&G, D&G, Amex) and TMT start-ups. Brighton has become a place where people (typically the millennial and Gen Z generations) want to work and where business wants to grow. Couple these factors with a constrained development pipeline and landlords have rejoiced at the demand and supply imbalance, while occupiers wait for the next wave of quality office product.
The Brinell Building set a new record headline rent for the city at £32 per sq ft in 2019. The 65,000 sq ft building was speculatively developed and fully committed to three tenants nine months ahead of PC, proving that Brighton is a market justifying the “build it and they will come” tagline with no Grade A supply delivered since. Pent-up demand continues, with just a couple of pipeline schemes due for completion in the next 12 months – circa 145,000 sq ft at Circus Street and Edward Street Quarter. Expect headline rents to show further growth in the coming years as the city quickly bounces back from pandemic restrictions and “life on the lanes” resumes.
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