Following several years of poor performance, Slough’s office market experienced something of a revival in 2015, with take-up increasing by 40%, say Lambert Smith Hampton.
LSH’s Caroline Waldron says that 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”, said Waldron
“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.”
“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.”