Thames Valley business park to expand office space

Available office space at the IQ business park in Farnborough is set to increase.

Article posted: 24 Jan 2011

Commercial property firm Segro has been granted permission to expand its IQ business park, creating approximately 215,000 sq ft of new office space in Hampshire.

Four new buildings will be added to the existing 500,000 sq ft at the Farnborough development, which also contains a hotel, childcare nursery, bar and restaurant on the site.

Kate Dean, Segro's director of offices in the Thames Valley, told Insider that office rent levels in the region have performed well in the face of economic challenges.

"Customers seem robust and there were some big lettings last year. There is a big pre-let requirement out there from companies that have large-scale requirements," she explained.

Ms Dean said concerns over sustainability will help to drive demand for commercial space at IQ, as many large firms now have a "green agenda" when choosing where to rent offices.

Located about 37 minutes away from central London by train, the business park could appeal to firms that currently rent office space in Guildford or Woking.

IQ is also about 15 miles from junction 12 of the M25, which makes the airports at Gatwick and Heathrow accessible for occupiers.

Posted by Sophie