Take-up in the Thames Valley office market rose 8% in the first quarter of the year to around 485,000 sq ft, compared with 397,206 sq ft in Q4 2014, according to research conducted by Colliers International.
In Maidenhead 95,000 sq ft has gone under offer since the start of 2015 – a huge rise compared to the 42,000 sq ft leased over the whole of 2014.
Vacancy rates in the region for the first quarter of the year stand at 11% – the lowest since 2002.
This figure is continuing to drop in most major areas throughout the Thames Valley with the exception of Reading, where a number of new developments are coming to the market.
There have also been 12 investment transactions in Thames Valley during Q1 2015, worth £280m. Colliers anticipates the market will expand by 13% and capital growth will be up 8% by the end of 2015.
The research credits the region’s good performance to the expected impact of Crossrail, as businesses look to capitalise on Thames Valley offices in locations that will benefit from faster commuting time into central London.
Mark Taylor, Colliers international head of national offices, said: “The markets, be they prime or secondary, are not oversupplied and more pockets are beginning to emerge where grade A has all but disappeared.
“The occupier is taking note of Crossrail and how it can be used to their benefit when planning their office needs.”
