Gryphon Property Partners recently went out to visit a number of serviced offices in and around Reading to see how the providers of serviced offices think the demand will shape the area in the future.
With available space becoming harder to come across in Central London mixed with the increase of price per sq ft/desk in the capital, it is only natural that many larger companies are looking a little further afield for their office accommodation.
Reading is fast becoming the first option for many of these companies. Serviced offices in Reading are filling up rapidly and a number of the larger providers have spent time trying to find suitable buildings for extra space.
The appeal of Reading is easy to see, with its great transport links via train and motorway it also provides a very scenic and pleasant environment to work in every day.
There seems to be an obvious trend in the demand in the Business Park Developments around Reading ahead of a central location. With developments such as Green Park, Arlington Business Park, Reading International Business Park and Thames Valley Park, it seems they are more appealing to a whole host of businesses. The main contributing factor seems to be how easily accessible they are along with providing ample parking on site. The central Reading offices provide the same facilities and services but are subject to city congestion and lack of parking facilities.
The average occupancy across Reading is approximately 75% occupied. A number of the Business Parks are occupied at 90%.
According to a Market Analysis for Reading produced by Savills, Reading is the 2nd most popular area in Southern England narrowly behind Milton Keynes. This is expected to change in the future, according to a study by Hicks Baker, the major investment and development ongoing into the wider Thames Valley will bring better office space to accommodate an increasing demand for Grade A offices.
With a number of major blue chip companies have relocated to the area, Microsoft, B G Group, Cisco Systems, Huawei Technologies and Verizon have all based themselves in Business Parks surrounding Reading, it is understandable why other smaller companies want to be close to such successful and influential company.
Serviced offices have become increasingly popular across the UK and with many number of centres open around Reading they provide a great flexible solution to all sectors of businesses. For information on availability and pricing within Reading and the Thames Valley area, please feel free to contact one of our agents who would be happy to assist.
Please contact Catherine Alexander or Daniel Kavanagh on 0203 440 9800 or alternatively please email firstname.lastname@example.org and someone will come back you.