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PRODRIVE AT

M40

Two new speculative buildings totalling 16,072 sq.metres

(173,000

sq.ft

.) have been completed by British Airways Pension

Fund and db symmetry at Central M40, Banbury.

In the first phase, Prodrive Motorsport took 10,591 sq.metres

(114,000

sq.ft

.) while Hellofresh leased 21,832 sq.metres (235,000

sq.ft.

)

on a scheme which will eventually total 92,900 sq.metres (1 million

sq.ft

.)

on a 70 acre site.

Harry Sadleir of db symmery commented: “Central M40’s location

alongside the M40 corridor provides national operators with a highly

prominent site and access to the wider motorway network”.

Developer Montreaux will be

delivering an exciting, mixed use

regeneration scheme on the

12.4 acre brownfield site known

as Middlesex Business Centre.

The comprehensive redevelopment

will deliver 2,000 much needed new

homes, as well as 300,000

sq.ft.

of

new commercial, retail and community

floorspace. The scheme will transform

the existing, under-utilised site into a

fantastic new destination around a

public square. The proposals will

importantly maximise the improved

connectivity with the Elizabeth Line

station and further strengthen

pedestrian links to Southall Town

Centre. Chief Executive, David Burke,

said: “The site is in a highly

convenient west London location,

with excellent transport links, and a

strong local economy and workforce.

Montreaux is well placed to unlock

the potential for a first class mixed

use scheme”.

NEW SCHEME FOR

Southall

Bracknell has performed well in

the past few years with 2017

bringing an above average

take up of 32,515 sq.metres

(35,000

sq.ft

.), said Simon

Fryer of Fryer Commercial.

What is impressive is the

way this year has started with

3,252 sq.metres (35,000

sq.ft)

of

offices let or under offer so far.

Fryer said “Supply is now down

to 39,482 sq.metres (425,000

sq.ft

.),

or 7% of the stock. This should be

seen in the context that the vacancy

rate was 185,800 sq.metres

(2 million

sq.ft

.) in 2008”.

That is a perfect illustration of

the extent of the recovery in the

Thames Valley since the financial

crash. This has now brought higher

quoting rents and these are moving

up this year with Fryer putting the

highest at £301.28 a sq.metre

(£28 psf).

Not to be forgotten is that a

proportion of the buildings sold

have been for residential

development, although Fryer

suggests that some of these may

not ultimately go for conversion.

What has also operated to the

advantage of Bracknell is the

opening of the Lexicon Shopping

Centre and the improvement in rail

services to Waterloo. Fryer points

out that most of the major office

buildings shared in the strong

performance, notably Maxis,

Greenwood, Columbia and One &

Three Arlington Square.

The quality of the lettings is

also impressive, such as Panasonic,

Bracknell Forest Homes and a host

of technology companies including

Snow Software and Software AG.

The largest building on the market

at the moment is the refurbished

9,290 sq.metres (100,000

sq.ft

.)

Atrium Court, three quarters of

which is being marketed by Knight

Frank and Fryer Commercial.

Colliers International said:

“A lack of choice in Grade A space

and a lull in the future pipeline

supply in some towns such as

Bracknell has resulted in a recent

increase in occupier activity, with a

strong emphasis for ‘best in class’

product. We have noticed that

floor plates are having to work

harder to retain and attract new

occupiers, with building

presentation and image also

growing in importance”.

NEWS

David Burke

Atrium Court.

Commercial Property Register

February - June 2018

www.compropregister.com

11

Branson

The whole of the UK can draw

comfort from the current strength

of the market in the Thames

Valley because this is a vital area

for high tech companies.

With the arrival of the Elizabeth

Line it has been given a boost

which will show later this year

when the first phase opens.

It already has a better train service

because of the rebuilding of

Reading station.

What is important is the broadly based progress of the whole

region, starting in West London, which is buoyant, and moving down

the motorways to such towns as Reading, Bracknell and Slough.

The health of the economy is shown by the rise in rents and the

shortage of Grade A space, which will take some time to eliminate. The

future is bright as agents look to providing space for the new motor

revolution with battery powered and driverless vehicles.

The e-retail revolution is also making a major difference and

accounting for a considerable amount of the industrial take up.

However, here there is a warning about the competition between

residential and industrial for land.

You cannot have it both ways, ignore industrial and therefore

employment at your peril. In the case of Bracknell, the large amount of

offices bought for conversion to residential may not occur and some

will escape the change. The much vaunted government industrial

policy will need new industrial space in order to work effectively.

IN BRIEF

Eynsham Hall,

a Grade II listed country house hotel with 135 bedrooms,

is being marketed by joint agents Christie & Co and Nick Sweeney. There is

planning consent for another 80 bedrooms and conference facilities. It has

been developed by Richard Upton, co-founder of Cathedral Group, who

said: “We have taken the Hall to a new level of turnover and profitability

but there is a lot more potential for this magnificent hotel”.

POPULAR

Bracknell