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Bristol Leisure Focus

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Bristol Leisure Focus Hotels Restaurants Pubs Leisure Leisure Property Specialists Investments Bristol Leisure Focus 2015 Bristol, currently European Green Capital, the first UK city to be awarded the accolade, is regularly voted as one of the best places to live in Britain, due to its eclectic and unmistakeable identity. This has led to the city being recognised as the fastest growing hi-tech sector outside of London. Large scale redevelopment of the city centre and surrounding areas and the much needed improvement of the historic waterways is presenting new opportunities and welcoming a host of new arrivals to the city. 1 The eighth largest city in the UK with a population approaching 440,000, Bristol is a vibrant and passionate city that has its own unmistakable identity. Introduction Bristol is the economic capital of the South offices and 250 residential apartments, it Once viewed as a much wasted and West, being home to more than 17,500 offers broad appeal and attracts 17 million neglected asset, Bristol’s waterfront areas businesses, with a third of UK-owned FTSE visitors each year. are benefitting from a series of large scale 100 companies having a significant presence developments bringing life to the waters’ in the city. Bristol was recently attributed as Growth continues with significant edge with schemes such as Finzels Reach the fastest growing hi-tech sector outside of developments underway to improve the and Wapping Wharf offering mixed use London (McKinsey and Co, 2014). city’s transport links. Bristol Airport is developments and waterfront leisure currently in the process of undergoing a opportunities. Having benefited from National Lottery sizeable £120 million expansion that is funding and other grants to finance major predicted to enable the airport to handle A planning application to extend The Mall at regeneration projects, the city is a thriving 11.6 million passengers a year by 2030. Cribbs Causeway by over 50 % has also been destination and boasts an eclectic mix of The extension of the airport’s East terminal submitted to South Gloucestershire Council. bars, restaurants, museums and art galleries. has now been completed and work has The proposal includes plans to create new The growing success of Bristol is evident commenced on the West terminal. This retail, leisure and restaurant space as from the recent accolades the city has expansion will attract new retail and well as a hotel, apartments and improved received. The city currently holds the honour restaurant brands and includes an on site transport links. The development represents of European Green Capital (2015), being hotel. A new high-speed rail service planned a £316 million transformation of the area. the first city in the UK to be awarded the for 2017 will see journey times to London If approved, it is anticipated the work will title and in 2014, Bristol was declared as the cut to 80 minutes. Proposals have also commence in 2017 and be completed by overall winner in Sunday Times’ Best Place been announced for an £8 million scheme 2021 and no doubt the arguments whether to Live in Britain, acknowledging the many to alter traffic flow in the city centre and this will have a detrimental impact on the attributes of the city from its social scene, pedestrianise areas around the Cenotaph city centre and other regional centres will scenery and heritage, through to the low and Hippodrome, as well as further continue long beyond that. levels of unemployment. infrastructure improvements, such as the South Bristol Link Road. Bristol also has a thriving student scene with two Universities; University of Bristol The long awaited development of Bristol and the University of West England, with a Arena, a £90 million development due to be student population of approximately 47,000 completed in 2017 is widely anticipated to that adds considerably to the vibrancy and have a significant impact on the city’s leisure economy of the city. industry, not least because it will provide the city with a 12,000 capacity, live music Cabot Circus is the city centre’s main venue, but this also forms part of plans to shopping centre. The scheme opened in regenerate a large 70-hectare site known 2008 and is one of the largest retail-led city as Temple Quarter Enterprise Zone. This centre urban regeneration projects in the redevelopment is set to be one of the largest UK. With over 90 shops, 15 restaurants, a and most significant regeneration projects hotel and 13-screen cinema, as well as in the UK. 3 Bristol Leisure Focus 2015 1 Hotels Bristol’s hotel sector is experiencing further Premier Inn nearing completion at bedroom hotel with a spa complex, rooftop significant growth, with hotels increasingly Lewins Mead, joining their two existing city swimming pool, restaurant and conference anchoring major developments across centre hotels. facilities in this 19th century Grade II listed the city. The city offers a plethora of building and adjacent Grade I listed former accommodation options from quirky hostels The aforementioned airport expansion will Bank of England. This would be a welcome such as the Full Moon and The Lanes, see the welcome addition of an on-site 201- addition to a city the size of Bristol, which through to country estate hotels on the edge bed hotel at the airport, managed by Hilton currently lacks 5 star accommodation. of the city, many of which are highly sought Worldwide group under its Hampton by after wedding venues. Hilton brand, due to be open in Spring 2016. Whilst individual transaction numbers within Hampton will further enhance its presence the city centre remain low, primarily due The city is also well served by a number with the opening at York House near St to the fact that most hotels are operated of budget hotel operators, predominantly James Barton, following the conversion of by corporate brands, portfolio transactions located at the Harbourside and near to the a former office block, a scheme Fleurets continue apace, one such example being city’s transport hubs. marketed on behalf of the owner, which Marathon Asset Management’s acquisition includes additional ground floor of a 1,200 bed hotel portfolio earlier this With numerous, large scale developments restaurant space. year, which included Bristol’s Hilton Garden underway, the city is set to welcome the Inn on Temple Way. arrival of at least six new hotels in the The proposed extension of Cribbs Causeway near future. also includes plans for a 120-bed hotel. Other notable activity includes the re- branding of the Grand Hotel on Broad In the city centre, the developers behind Plans are in place for Bristol to welcome Street, one of the city’s best known hotels, Finzels Reach plan to convert the former its first 5 star hotel, with the £10 million formerly operated by Thistle, however since Courage Brewery site into a 168-bed conversion of the historic Guildhall, located July now forms part of the Hotel Collection. Premier Inn, this phase of the development on Broad Street. The Trevor Osborne is due to be completed in 2016, with a Property Group plans to create a luxury 93 4 Bristol Leisure Focus 2015 Bristol Hotels’ Performance (STR Global) Year 2013 2014 YTD 2015 Occupancy 77.3% 80.1% 81.4% ADR £62.46 £68.63 £73.56 RevPAR £48.30 £54.99 £59.89 % Change Occupancy 6.1% 3.6% 2.2% ADR 2.2% 9.9% 10.1% RevPAR 8.5% 13.8% 12.6% 3 2 1. Bristol Marriot Royal 2. Radisson Blu 3. Mercure 1 Pubs & Bars Despite its size, Bristol has a pub and Some areas, such as Clifton Village, have bar scene that rivals most. Alongside the long been established as sought after underlying ethos of Bristol, diversity is the locations and popular drinking destinations, key to its success, with an impressive array whereas other areas continually emerge and of venues from traditional pubs and fine wine add further diversity to the city. Areas such bars, through to hip trendy microbreweries as Stokes Croft, once a widely avoided part and discrete, speakeasy cocktail bars. of the city, have now been transformed into However, unlike the majority of UK cities, the bohemian neighbourhood of the city, Bristol does not conform to the canonical with street art throughout and an array of city centre setup with a dominant primary fiercely defended independent coffee shops, wet led pitch, rather the city comprises of a pubs, bars and restaurants, many being a collection of distinct areas, each with their hybrid of all these, trading from all day and own character and personality, influenced evening formats. by the diverse mix of cultures within the city. Whilst brands within Harbourside and Corn Street may reflect those observed in many city centres, it is the distinct areas that set Bristol apart, encourages the independent market and allows new concepts to flourish. 6 Bristol Leisure Focus 2015 In recent years, Bristol has witnessed a opening throughout the city, with operators rapidly evolving Craft Beer scene. Whilst such as Brewhouse & Kitchen opening micro-breweries are popping up throughout within the former Hill public house, the city, King Street and the surrounding acquiring the property via Fleurets, joining area have now established themselves as the established operators such as Beerd and craft beer pitch of the city, with a collection Bristol Beer Factory. of specialist operators dominating the pitch including national operators such as Another rising trend in the city is that of Brewdog, as well as independent operators the Cocktail Bar. With creative ventures such as the Beer Emporium, Small Bar and such as the secretive prohibition style Kongs of King Street, all serving a wide speakeasy bars, run by private operators range of fine beers.
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