LISTEN: While the arrival of Crossrail and expansion at Heathrow are crucial for the Thames Valley’s continuing success, more must be done to attract occupiers to the region, according to industry experts.
Panellists spoke at Estates Gazette’s Thames Valley City Talks event at Reading Town Hall on the key issues that affected the market.
Gareth Osborn, Thames Valley and national logistics director at Segro, said development projects from Maidenhead to Slough were being fuelled by Crossrail.
The improved access around the region would also lead to opportunities for young people in the construction sector, where there has been an ongoing skills shortage.
Richard Poulter, deputy managing director at Willmott Dixon’s Cobham office, said: “You’ve got to invest in those young people and make them aware what options in the construction sector are available to them. Bringing these young people into the region will not be a bad thing.”
However, the panel agreed that Crossrail’s arrival would not be without its challenges.
Tim Burden, director at Turley, said: “One of the things we are seeing is how Crossrail has had a knock-on effect on other areas but there is still lots of smaller stuff that needs to come through.”
Advantages lay in physical infrastructure improvements, he added, but facilities like schools and broadband would also need to improve.
Ease of access to London could also potentially lead to a “brain drain” from established sectors in the region, such as technology and science.
Osborn said: “We have to think of a solution. We had it good 15 or 20 years ago, with large corporates coming into the Thames Valley and taking more space. Now there is a real threat. At Segro we used to employ people from all around here, but now 30% of our property teams live in London.
“The pull of the capital and places like Shoreditch is powerful, we have a noisy neighbour and we have to try and fight back against it.”
Listen to the debate in full below
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