Two new speculative buildings totalling 16,072 sq.metres
.) 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
.) while Hellofresh leased 21,832 sq.metres (235,000sq.ft.
on a scheme which will eventually total 92,900 sq.metres (1 millionsq.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 300,000sq.ft.
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
NEW SCHEME FOR
Bracknell has performed well in
the past few years with 2017
bringing an above average
take up of 32,515 sq.metres
.), said Simon
Fryer of Fryer Commercial.
What is impressive is the
way this year has started with
3,252 sq.metres (35,000sq.ft)
offices let or under offer so far.
Fryer said “Supply is now down
to 39,482 sq.metres (425,000sq.ft
or 7% of the stock. This should be
seen in the context that the vacancy
rate was 185,800 sq.metres
.) 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
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 (100,000sq.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”.
Commercial Property Register
February - June 2018www.compropregister.com
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
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.
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”.