Solid start to the year in Thames Valley market
12 Apr, 2005, Thames Valley
The first quarter of 2005 has seen a 13 per cent increase in take-up in the important Thames Valley office market according to the latest report from commercial property adviser Cushman & Wakefield Healey & Baker (C&W/H&B).
In addition to the increase in take-up, the company's Thames Valley MarketWatch report points to a marginal increase in office rents, a fall in supply of space and a significant increase in speculative development in the UK's second largest office market.
The report also highlights the increasing number of corporates who are reporting headcount growth particularly among the technology and telecoms sectors. Of particular note was Motorola's letting of 112,500 sq ft at Chineham Park, Basingstoke which is the largest letting of new space in the M3 corridor for five years.
Charles Dady, partner in C&W/H&B's Thames Valley office at Stockley Park said: "There is increased confidence amongst corporates in sectors such as telecoms and this is now translating into increased take-up. This has fuelled some early signs of rental growth in key centres which in turn has, for the first time in four years or so, led to a significant increase in speculative development."