SEGROplc (SEGRO) has now
completed the first phase of its
development at SEGRO Park
Bracknell, a 17 acre site.
The first unit to be completed is
a speculative 8,361 sq.metres
) urban logistics unit
which fronts the A3095 dual
carriageway and provides exceptional
access to the M3 and M4. It has
7,097 sq.metres (85,000sq.ft.
industrial and logistics space and
427 sq.metres (4,600sq.ft.
office space in the core employment
area of Bracknell.
The site also has planning
consent for two light industrial units
or logistics units of 5,574 sq.metres
) and 288 sq metres
The remaining three plots on
the site offer the flexibility to
design and build new industrial or
trade counter units up to a total of
14,400 sq.metres (155,000sq.ft.
a range of configurations.
SEGRO’s Paul Lewis said:
“Bracknell is one of the South East’s
most compelling locations for
industrial and logistics space,
benefiting from exceptional
motorway connectivity and an
abundant workforce. We are seeing
strong demand for the completed
unit and we look forward to
embarking on the next phases of
construction in due course”.
Among the proliferation of year
International reports a mixed
picture for the south east office
market with slowing demand but a
rise in investment although they did
expect a spurt in the last quarter of
2017 on the basis of the amount of
space that was under offer. The
third quarter of last year saw
investment in south east offices
double to £1.75 billion.
On the other hand, Real Estate
Strategies is expecting five tough
years with office values declining by
8% because of dwindling demand.
It adds to the gloomy picture by
expecting returns at 3.2% between
now and 2021. Some agents are
reporting increased incentives by
landlords, but that does not appear
to be true in the Thames Valley.
In this mixed picture, Slough
stands out with a 19% hike in rents
to £365.84 a sq.metre (£34 psf)
putting it on the same level as
Maidenhead and Reading. Colliers
International ’s Mark Emburey said
that a significant number of deals
are coming through lease events.
West London saw a surge in
lettings in the final part of 2017
with solid take up in Ealing and
the White City and strong demand
Sorbon Estates, the commercial
property investment arm of
the Shanly Group has purchased
Reading Link Retail Park for
Reading Link Retail Park, which
extends to 6,423 sq.metres (69,139sq.ft.
) on a 6 acre site fronting the
A33 is home to companies such as
Magnet, Poundworld, Matalan and
Iceland Foods and has become a
popular shopping destination
following its partial refurbishment
and introduction of new tenants.
Sorbon plans to actively manage the
property with a view to extending it
and introducing new uses.
Sorbon’s Mark Allaway said:
“Reading, in particular the southern
area along the A33 corridor, is
seeing exponential growth in both
commercial and residential
development and investment. The
£900 million improvement to the
station and the imminent arrival of
Crossrail will strengthen its appeal”.
He added that with the passing
rents of £13-£16 persq.ft.
, there is
rental growth potential and the
opportunity to expand further.
Buckinghamshire based Sorbon
is actively growing and diversifying
its commercial property portfolio in
the Home Counties, with other
recent acquisitions in Henley,
Weybridge, Thame and Maidenhead.
SORBON GROWING IN
Commercial Property Register
February - June 2018www.compropregister.com
Reading Link Retail Park