M4 office market on the up

Fortunes of the office market in M4 corridor are improving say agents Hanover Green

Article posted: 12 May 2011

According to latest information provided by property agents Hanover Green, vacancy rates of office space in the Thames Valley has fallen during the first quarter of 2011, leading to an increase in prime rents and a reduction in landlord incentives.

The lack of new development and a number of occupiers facing lease expiries or with break options are key factors in the market. 

Key Thames Valley locations such as Reading, Maidenhead, Heathrow, and Hammersmith have all seen significant office take up in the first three months of this year. Adobe acquired 49,800 sq ft of office space in Maidenhead at Market House (pictured), PRA took 42,000 sq ft offices in Reading at 500 South Oak Way, Green Park and BP took 42,000 sq ft of office space in Stockley Park at 5 The Square.

Kevin Hawthorn of Hanover Green says: "The Thames Valley is the most significant office market outside London. As such we are now seeing improved occupier and investor confidence rippling out from the capital and impacting on our market.”

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Posted by Sara