Location focus: top workplace locations in the South East
Insight
Location focus: top workplace locations in the South East
One Station Hill - Reading
In last month’s Location focus Insight, we took you on a whistle-stop tour of some of the Capital’s most impressive new commercial developments.
But London is by no means the only option for businesses looking to make a fresh start post-pandemic by relocating to new premises that will allow them to boost their sustainability credentials and enhance employee wellbeing.
What’s more, since the pandemic many businesses may be finding that their needs would be better met further afield. Especially if their future strategies involve permanently adopting a remote, hybrid or hub-and-spoke model.
The good news is that when it comes to commercial real estate, there is life outside of the M25.
Here we’ll be taking a look at why the South East, with its competitive rent rates and focus on green buildings, is giving London a run for its money in the high-quality office stakes.
Reading & Thames Valley
Despite the current difficulties brought on by the pandemic, the outlook for Reading’s commercial property market is extremely positive.
In fact, according to Savills, there are more than 800,000 sq ft of lease events due to take place in Reading in 2021.
One such event is major mobile network operator Three’s recent completion of a 119,000 sq ft deal to relocate its HQ to Reading’s Green Park.
Meanwhile, recent planning approval given for the Station Hill development is also a cause for optimism.
Indeed, Reading’s key market fundamentals which include grade A office buildings and excellent transport connections should ensure its prospects remain strong for the foreseeable.
Telecoms and pharma companies in particular are likely to be major players in the Reading’s commercial property market, while online shopping giant Amazon is also set to become a resident.
The area is of course well known for its stunning business parks which, aside from their focus on sustainability and wellbeing, boast another clear advantage over London’s office locations – car parking.
Should workers’ current reluctance to commute - especially via public transport - persist, businesses with locations that offer the option to travel to work in the safety of their own car, may well have an easier time of encouraging staff back to the office post-COVID.
Not far from Reading, Windsor is another Thames Valley location that is experiencing a lot of movement in its property market.
Recent activity includes InterContinental Hotel Group’s 57,000 sq ft pre-letting at the recently refurbished Windsor One and US technology and software vendor InterSystem’s planned occupation of One Victoria.
These major deals are a giving landlords hope that the success of the vaccination roll out and the easing of restrictions are helping to unlock the property market in the area.
The Cambridge-Milton Keynes-Oxford Corridor (CaMKOx)
Sometimes referred to as the Growth Corridor, this line of towns and cities some 50 miles outside of London is home to some of the UK’s most productive economies.
Just like Reading, they benefit from a superior infrastructure for innovation which includes universities, research facilities, funding bodies and start-up accelerators.
Not to mention, Oxford and Cambridge are ideal choices for businesses wanting to take their pick of graduates from two of the world’s most prestigious universities.
According to commercial real estate firm CBRE, the growth potential for this region is considerable. They believe it has the potential to become an economic powerhouse capable of competing on an international scale, particularly in the life sciences and technology fields.
However, the success of this region will depend largely on connecting the various hubs with new transport links and the provision of new homes for the highly skilled workforce needed to fulfil its potential.
To that end, the National Infrastructure Commission has set out a plan for the development of a “Knowledge and Life Science corridor of expertise”, a key component of which will involve the delivery of East-West rail links that will connect the main commercial centres by 2030.
Developments to watch
To round things off, here are some of our property expert’s top picks for exceptional office space in the South East.
Botanica, Slough
Enhancing workers’ wellbeing by bringing them closer to nature is the name of the game at this stunning location in Slough. Set within 94 acres of parkland, Botanica offers up to 156,000 sq ft of grade A workspace and boasts state-of-the-art fitness facilities for employee use. It even hosts regular talks and events designed to help staff improve their mental and physical wellbeing.
Station Hill, Reading
This mixed-use development offers 625,000 sq ft of workspace, as well as 1,300 new homes and 95,000 sq ft of retail and leisure space. Just a stone’s throw from Reading Station, businesses who make their home here will benefit from exceptional amenities, cutting-edge office design and innovative technological solutions.
Forge, Woking
Forge’s owners claim that the development “challenges the convention of what an office is and should be.” And with the wide range of options it has to offer, we think they might be right. The building offers a variety of flexible workplace solutions such as standard high quality Cat A spaces that are ready for a full tenant Cat B fit out, plug-and-play Cat A+ workplaces and co-working arrangements.
One Victoria St, Windsor
For a new development to slot seamlessly into a town as picturesque and historic as Windsor is no mean feat, but One Victoria St certainly manages it. This beautifully designed new location offers 48,000 sq ft of best-in-class office accommodation in the heart of affluent Royal Windsor with its excellent amenities and flourishing wellness culture.
Windsor One & Two, Windsor
Formerly known as Windsor Dials, Windsor One & Two currently offer approximately 80,000 sq ft of extensively redeveloped contemporary workspace. Works are also underway to add new floors and a further 88,000 sq ft of grade A office space which is due to be completed by Q3 2021.
If you’re planning an office move and think that making your home outside of London would benefit your business and your staff, we’d love to help you on that journey. Get in touch to speak to one of our property experts today.
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