Following several years of poor performance, Slough’s office market experienced something of a revival in 2015, with take-up increasing by 40%.
LSH’s Caroline Waldron gives an overview of what’s happening, why and what will happen next:
Take-up in Slough was 128,500 sq ft in 2015 – when compared to the five year average of 112,500 sq ft, this is a 25% increase.
This reflects significant confidence in Slough as a business location as well as in a strengthening economy. This is demonstrated by one of the largest investment deals within the Thames Valley (outside of Greater London) – the purchase of the Bath Road office portfolio.
Developers and investors alike, strongly supported at a local level by Slough Borough Council, have responded to the improving market conditions by investing in Slough as a business centre. Speculative development is being seen at a level unprecedented to Slough since the economic downturn. This includes 234 Bath Road (70,000 sq ft), 25 Windsor Road (110,000 sq ft) and The Porter Building (110,000 sq ft).
Following the growth seen in 2015, we are likely to see a consolidation of the market in 2016. Moving into 2017, we are likely to experience a significant surge as a result of the completion of the new developments and further occupier/business confidence.
