property 51 Surge of lettings at


Access 12, Theale There has been a flurry of lettings at Access 12 in the past few months


In total six units have recently let; Xerimis has leased 13,129 sq ft within Unit A2, The Fitters Friend have leased 3,397 sq ft within Unit D3 and D4, La Compagnie des Animaux UK have leased 1,268 sq ft within Unit B1, Assa Abloy have leased 2,054 sq ft in Unit B5 and The 43 Club have leased 1,119 sq ft within Unit D5. This recent activity means the estate is now almost 80% let.


The development comprises of 16 high-quality warehouse units of between 1,119 sq ft to 13,129 sq ft which aim to meet the requirements of businesses of all sizes, within a secure environment. The specification includes: electrically operated loading doors, three phase electricity, 6m to 8m eaves height, double-glazed windows and generous yards within a pleasant landscaped estate.


In addition, plans are soon to be unveiled for refurbishment of Theale Technology Centre, adjacent to Access 12 and also owned by Aberdeen Asset Management. Unit 2 and 4 will shortly be coming available offering 6,837 sq ft and 3,205 sq ft respectively. The units will be undergoing a full refurbishment to include; new roofs, new cladding and an extensive internal refurbishment. Eventually the units will be incorporated into the Access 12 development to provide one contiguous estate.


Eilidh McAllister at Haslams Chartered Surveyors, who advise the landlord, Aberdeen Asset Management, said: “These recent deals show there is strong demand for good quality warehouse accommodation in Reading and the estate is quickly filling up, the proposals for Theale Technology


Centre will give a much needed boost to this part of the estate. The majority of transactions last year took place on units of less than 5,000 sq ft, so we’re expecting to see continued success throughout 2016.”


The Thames Valley industrial property market has seen unprecedented levels of activity during the past 12 months. Greater Reading in particular continues to see a high level of demand from occupiers looking to relocate within the area with stock levels at an all-time low. In 2015 there was a total of 553,000 sq ft of transactions of industrial stock. Based on this level of take up and


Landid/Brockton JV sells Thames Valley offices for circa £56.5m


A joint venture between Landid and Brockton Capital (the Landid/ Brockton JV) has sold One Valpy in Reading and The Urban Building in Slough to a client of Standard Life Investments for circa £56.5 million.


The Landid/Brockton JV recently completed extensive refurbishment of One Valpy and substantially repositioned the two Thames Valley office buildings, to create high-quality, contemporary workplaces for modern occupiers and their employees. As the most active office developer in the Thames Valley, representing around 25% of the market, the Landid/ Brockton JV’s investments combine excellent design, character, connectivity and sustainability to optimise experience, environment and value for their occupiers.


One Valpy, a 60,000 sq ft, eight- storey building overlooking Forbury Gardens in Reading, is approximately 50% let or committed since relaunch, to office


tenants including H&M, Bullit Group, Rio Tinto, Thinking Phones and Mabey. The Urban Building, a 98,000 sq ft building on Albert Street, Slough, has achieved two lettings to date, to KP Snacks and Caffè Kix. Both buildings have been rebranded in line with the Landid/Brockton JV’s ongoing strategy to reposition or redevelop outmoded office assets to meet today’s occupier requirements.


Trevor Silver, managing director of Landid, said: “We have sold One Valpy and The Urban Building ahead of schedule, reflecting the current demand for office investments in prime Thames Valley locations, especially those on Crossrail. Our repositioning strategy has created office environments with enduring occupier appeal, allowing businesses in the Thames Valley to manage costs and compete for talent without compromising on location.”


Tony Edgley, partner at Brockton Capital LLP, said:


THE BUSINESS MAGAZINE – THAMES VALLEY – FEBRUARY 2016


“These assets perfectly capture our strategy to create institutional quality investments from overlooked or redundant assets, which can respond to the needs of the next generation of occupier. To compete in today’s market, property developers and investors must have a deep understanding of how to create a community within an urban office setting, providing the right combination of design, connectivity, sustainability, value and character. These qualities are embodied in One Valpy and The Urban Building, creating appeal for occupier and investor alike.”


The Landid/Brockton JV is looking to commit up to £250m to acquire similar investment opportunities, in the Western Corridor, Greater London and selected UK cities. It is currently developing three major office buildings: The Charter Building, Uxbridge; Thames Tower, Reading; and The Porter Building, Slough, for


current stock levels there are only two years supply of stock available in the market.


For further information on the development contact the joint agents Haslams on 0118-9211515 or Lambert Smith Hampton on 0118-9598855.


Details: Eilidh McAllister Haslams Chartered Surveyors 0118-9211515


completion between Q4 2016 and Q3 2017.


One Valpy underwent substantial refurbishment and has been developed into contemporary, energy-efficient offices aimed at attracting forward- thinking companies to a vibrant area of Reading. The Urban Building is located in the heart of Slough and has been transformed into a substantial, state-of-the-art, mixed- use workspace of high specification.


Both buildings are well located with public transport links to both London and Heathrow, with Crossrail bringing even more accessibility to the region.


There is currently a growing list of high-calibre companies looking for quality offices in the area, and both One Valpy and The Urban Building are positioned to meet this demand. There is also a large, highly-skilled workforce that lives or commutes within the Thames Valley area.


JLL advised the Landid/Brockton JV. Colliers represented Standard Life Investments.


Details: www.landid.co.uk www.brocktoncapital.com


www.businessmag.co.uk


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