property


Reading property market examined at ‘Spotlight on Reading’ event


Savills will be revealing its latest research into the Reading property market at an afternoon seminar on Thursday, September 29, writes Phil Brown, head of Savills Reading office


The Thames Valley has experienced consistent growth over the past few years. Reading is the strongest performing office market across the whole of the South East and Savills has identified that 11.2 million sq ft has been transacted in the town since 1991, more than double that of the second strongest office market, Slough. On the residential side values have steadily increased by upwards of 15-20% since the announcement of Crossrail in 2013.


‘Spotlight on Reading’, which runs from 4-6pm at the recently completed R+ building will offer an insight into the first three quarters of 2016 and crucially, the impact of political change and the decision to leave the European Union.


Savills will also offer an alternative view on the commercial market from across the pond and Nigel Howe, CEO of Reading Football Club will talk our guests through his vision for a new housing, leisure and retail scheme at the club’s Junction 11 site.


The residential market will be considered in the context of its relationship with the commercial markets. A 2016 British Council for Offices (BCO) report showed that, for office occupiers, staff account for 55% of total corporate costs versus 15% for office property costs. Keeping staff happy is vital and the importance of commute times is paramount, therefore understanding the residential offering is also a crucial element.


As part of the event, Savills commercial research analyst Steve Lang will discuss the question of what workers want from their office workspace. The BCO and Savills conducted a survey of office workers across the country which received over 1,100 responses. It looked at preferences for location – do workers prefer to work in town centres, business parks or rural locations – preferred means of transport, how important it is to have shops near by and views on issues


such as wearable technology in the office and standing versus sitting at desks. Lang’s presentation will focus on Berkshire and offer a current and local view.


To attend Savills ‘Spotlight on Reading’ event, or for further information on local commercial and residential markets, contact Ali Bird at Savills.


Ali Bird 0118 9520518 ajbird@savills.com


Complete our survey and you could win a champagne lunch


Seminar venue R+ building Reading


Savills and The Business Magazine are compiling a Thames Valley Occupiers’ Survey which will gauge sentiment within the region and understand the employment trends and aspirations for commercial property in terms of locational preferences, drivers and business sentiment.


The preliminary results of the survey will be announced at Savills’ seminar on September 29.


And there’s a special incentive – all completed surveys will be entered into a draw and the winner could win a Champagne lunch for two at the renowned Forbury’s Restaurant in Reading.


Go here to complete:


businessmag.co.uk/thames-valley- occupiers-survey/


THE BUSINESS MAGAZINE – THAMES VALLEY – SEPTEMBER 2016 businessmag.co.uk 13


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