Crossrail is causing seismic shifts in the South East office market, as occupiers such as American-owned confectionery owner Mondelez looks to move offices to be closer to the new London railway line.
The Cadbury’s owner, formerly known as Kraft Foods, currently has a commercial office in Uxbridge and a scientific centre in Reading, Berkshire, as well as sites in Birmingham and Sheffield.
Ericsson started the trend earlier this year when it decided to move its UK headquarters from Guildford Business Park, Surrey, to Thames Tower in Reading.
Meanwhile, in its latest M25 report, Knight Frank has tipped Watford, Croydon and Brighton to be the hottest office markets in the South East this year.
Only three office schemes have started in the region in the last six months – one development and two substantial refurbishments – and supply is constrained.
Occupier requirements are also changing as companies adapt to technology reducing the amount of space they need, forcing landlords to split buildings to cater for smaller floorplate demands.
Emma Goodford, head of national offices at Knight Frank discusses the agent’s latest M25 report, changing occupier needs and what she thinks the year holds.
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