property 51 Growth opportunity in Bracknell
329 Bracknell has been thriving with interest, with over 25,000 square feet of the space now let to occupiers including Caterpillar, The British Heart Foundation, Techland Group, Skipton Finance, Paragon Freight and Spectra Logic, to name a few
329 Bracknell offers a range of high-specification flexible office space, from one desk managed office suites at Club 329 located on the 2nd floor, to a mix of traditional office suites which range in size from 880 square feet to 1,780 square feet arranged over the ground, first and second floors. There are an assortment of meeting and conference rooms available for private hire as well as the inclusion of the front of house team who are always on hand to provide a premier support to the occupiers. In addition the premises offer an unrivalled parking ratio of 1:195 square feet, providing each suite with ample parking provisions.
This exceptional service and flexibility offers suitable space to meet all tenants’ needs and is especially beneficial for tenants with future expansion plans.
The managed office space is
McKay Securities extensively remodelled and launched the scheme in 2014 and now with 80% of the space let, there is no sign of demand slowing.
available with all inclusive packages that allow tenants to move in immediately. There is flexibility so that as your company grows, the space available to you is easily changeable and a move in to a larger suite is a realisable option. This has been of particular value to Logical Recruitment who have been in occupation since January 2015.
Logical Recruitment started in one of the smaller serviced office suites but due to rapid expansion quickly
moved in to a larger serviced office suite as expansion continued. Last month they took up space in one of the large traditional office suites on the first floor. Marc Ryzer at Logical Recruitment comments: “Having the opportunity to move so freely in to larger space within the property, as our business has grown has been paramount. McKay Securities have been so adaptable to our needs which have contributed to our growth plans without hindrance or limitation.”
‘Recent transactions highlight a positive vein for the future of the Reading commercial market’
Reading has been a focal point within the Thames Valley for new speculative development and refurbishment schemes over the past two years that has brought over 835,000 sq ft of new office accommodation to the market with further schemes in the pipeline, writes Andy Nixon, surveyor, Vail Williams LLP
What is causing developers to focus in on Reading and take a chance on competing in an established market with a strong supply of Grade A offices?
Similar to the perception that London is deemed a safe haven for investors and developers within the UK property market, Reading has a similar position within the Thames Valley market. Access into London, Heathrow Airport and the extensive train network twinned with a young tech-friendly workforce and unparalleled local amenities put Reading at the top of the list for landlords within this market.
Furthermore, landlords in the Reading market hope that the continued rental growth in London, combined with the stepped increase in business rates will put further pressure on occupiers to relocate
the core of the workforce to regional towns. The implementation of Crossrail (2018) and electrification of the railway service to London (2016) has reduced the negative stigma of relocating the core workforce to regional towns as access into central London, already strong, will be further improved.
We have seen a number of existing Thames Valley occupiers expand their presence in the Thames Valley with a surge of large scale transactions, paying dividends for the landlords who have speculatively built and refurbished within the current market cycle. The latest transaction is the recent agreement between SSE and M&G and Bell Hammer for a new lease within 1 Forbury Place (185,900 sq ft).
However, it is not only town-centre offices that have seen improved
THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2015
take-up with out-of-town business parks such as Winnersh Triangle and Green Park also being successful in attracting occupiers. Following the 105,000 sq ft Pepsico letting at Green Park at the end of 2013, Winnersh Triangle completed the 70,000 sq ft pre-let to Rockwell Collins (mixed use building) and now with rumours that Thales are under offer at 350 Bridgewater Avenue (110,000 sq ft) has epitomised the positivity within the Reading market.
At the other end of the spectrum, Class J of the permitted development order which permitted the conversion of offices into residential has reduced the secondary office stock in Reading to less than 25% of the Greater Reading market. This has had a positive knock-on effect on the rest of the Thames Valley market as existing Reading occupiers or
budget-led requirements have been priced out by the Grade A stock and looked to other surrounding markets. Bracknell, as an example, has had a very positive 18 months; again leading to a number of landlords refurbishing existing stock to take advantage of the resurgent rents recently achieved.
For more information about Vail Williams visit the website.
Details: Andy Nixon 0118-9097474
anixon@vailwilliams.com www.vailwilliams.com
The property provides premium specification including a super-fast fibre optic link. Located east of Reading, just beyond Wokingham and Winnersh, access straight off the A329(M) is ideal for those who are tired of the constant traffic congestion. The scheme also benefits from covered bike racks and a cycle path that runs from the site entrance to the train station just a 10-minute ride away. The mainline train station connects directly to London Waterloo and Reading Station.
For further information contact the joint agents Haslams Chartered Surveyors and Page Hardy Harris or take a look at the website for the property.
Details:
www.329bracknell.com
www.businessmag.co.uk
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