M4 Corridor take-up rising

Recent research by Savills reveals an active M4 corridor office market and in particular the Maidenhead area.

Maidenhead office take-up is 22% ahead of the same period in 2015 underlining strong office demand. For the year to date there has been over 68,000 sq ft of office deals transacted in Maidenhead with a further 19,000 sq ft under offer.

Above average demand has led to new record office rents being achieved in Maidenhead town centre. Blackberry and McAllister Olivarius recently both paid a rent of £37.50 per sq ft at the Pearce Building, taking 16,000 sq ft and 5,000 sq ft respectively.

Agents say that most occupiers are looking at grade A (new or recently refurbished space). Over the last five years the grade A take-up proportion has been 80%.

Major movers this year include Alnylam taking 21,000 sq ft at Braywick Gate and Informatica leasing 18,000 sq ft at Building 4, Foundation Park. Rank are also in talks to take 40,000 sq ft at Blackrock’s Tor in the town centre.

Metropolis is monitoring around 50 requirements and potential requirements in the M4 corridor from Slough to Reading including Maidenhead.

There is currently 77,000 sq ft under construction in two buildings in Maidenhead. Clearbell Capital is refurbishing 55,000 sq ft of offices at Voyager Place and Mavern Capital is refurbishing 22,000 sq ft at Aurora, Vanwall Business Park.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: