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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

(90,000

sq.ft.

) urban logistics unit

which fronts the A3095 dual

carriageway and provides exceptional

access to the M3 and M4. It has

7,097 sq.metres (85,000

sq.ft.

) of

industrial and logistics space and

427 sq.metres (4,600

sq.ft.

) of

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

(60,000

sq.ft.

) and 288 sq metres

(31,000

sq.ft.

) respectively.

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 (155,000

sq.ft.

) in

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

ahead forecasts,

Colliers

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

in Hammersmith.

Rising

INVESTMENT

Mark Emburey

Sorbon Estates, the commercial

property investment arm of

the Shanly Group has purchased

Reading Link Retail Park for

£16.3 million.

Reading Link Retail Park, which

extends to 6,423 sq.metres (69,139

sq.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 per

sq.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

Reading

NEWS

Commercial Property Register

February - June 2018

www.compropregister.com

6

New unit

FOR SEGRO

Paul Lewis

Reading Link Retail Park