focus on slough
purchased by the Abu Dhabi Investment Authority. Speaking after the acquisition Slough Borough Council leader Sohail Munawar said: “We are looking forward to working with an organisation that shares our vision and our commitment to transforming the town centre. This major investment is great news and shows the confidence investors have in Slough and its future.”
• The Brickworks: A 1.32-acre site off Petersfield Avenue, 500 metres from the railway station, is for sale with residential planning permission for over 150 homes.
• Slough has always been seen as a place to work and do business. Now it is becoming a place to enjoy a full 21st century lifestyle – including work.
What are informed people saying about Slough?
Directly opposite Slough Station, Landid Property and Brockton Capital are currently developing The Porter Building, a four- storey 119,400 sq ft newbuild office scheme designed with employee well-being at its heart.
Landid Property director Chris Hiatt says: “We are very positive about Slough and believe the town has huge potential. It’s true that Slough has suffered a perception problem, but anyone who actually visits and steps off the train can see exciting things are happening and the reality is now quite far removed from the perception.
“As costs in London continue to increase we think Slough is ideally placed to benefit as businesses look for better alternatives. Contemporary businesses want to be in great buildings in well-connected locations with excellent amenities and that means they want to be in town centres.
“Already Slough is home to a huge number of major occupiers, and that is only going to increase as businesses become more aware of the high-spec design-led offices like The Porter Building that are now coming out of the ground, and the wider regeneration programme that is underway.”
Currently developing 25 Windsor Road, a new Grade A 110,000 sq ft six-storey headquarters office development in Slough, Alexander Johns of XLB Property, says: “In many ways Slough has been under-valued in the past, but there are now several macro and micro factors that are coming together, and radically changing things for the town. It’s the right time for Slough. It’s going places and we believe that 25 Windsor Road delivers the quality of space that international blue-chip HQ’s will be looking for when they
come to Slough. With business rates and rents rising in West London and Reading it also makes Slough exceptionally good value and this is shown by the increased occupier demand in the past three months.”
Jeremy Metcalfe of commercial property agents Strutt and Parker says: “Slough is already an international business destination, but the town-centre regeneration, infrastructure improvements and good value occupancy mean that Slough will increasingly become a more attractive location for occupiers looking to move to the town.
“Big things will be happening in and around the town over the next few years, which will really transform Slough and help overcome any perception issues. Key examples of this include the transformation of the town- centre retail and leisure offering, the delivery of new high-quality office space and the arrival of Crossrail and the Western Rail Link to Heathrow (WRLH).”
Scott Witchalls of development and infrastructure consultancy Peter Brett Associates, agreed: “The WRLH will be a real game-changer in terms of Slough and a huge benefit to the Thames Valley economy overall.
“The downside of Slough has for some time been its quality of life and town-centre amenities and that’s why Slough Borough Council has been driving a change of image with its Heart of Slough regeneration. It’s been a long time coming but development projects are now literally coming out of the ground, showing the real progress and linked-thinking towards a high-quality lifestyle vision.
“Managing the constructional impacts of all the local infrastructure developments will be a key challenge,” noted Witchalls.
Seeing infrastructure developments under construction will tend to change business community investment and occupation appetites.
“This year is critical for Slough to push harder for what is known to be coming; crucial in terms of messaging and the first phases of new developmental occupation. Early occupation successes will send out a strong and wide message to the market.”
Witchalls of PBA has had long-term involvement with many Sough and Thames Valley infrastructure, commercial, LEP and council projects. “In 10 years we should have a global offer we can stand up and be proud of, regardless of what Brexit brings.”
Derek Ching partner in the development and house building team at Boyes Turner, who has dealt with commercial and residential property transactions in and around Slough for over 25 years, added: “Clearly there is increasing momentum within Slough as its transformation continues. The enhanced transport links that are expected in the near future to London and to Heathrow help underpin the town’s attractiveness as a place not just to work but to live too. Developments in and around the station area are particularly attractive. There is clear pressure for new homes whether for those commuting or working locally.
“Slough has a growing population which is projected to increase by 24% in the period to 2013-2036 and has seen house price inflation of over 11% in 2016. Planning policy is evolving to absorb this projected population growth, which will mean a 38% increase in households within Slough over that period, reflecting net inward migration, including those moving out of London, increased demand for smaller households as well as continuing demand from those already living in the area.”
Bus Station – image credit: Strutt & Parker
THE BUSINESS MAGAZINE – THAMES VALLEY – APRIL 2017
businessmag.co.uk
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