A new report has highlighted cost savings, stock availability, a skilled workforce and a strategic location as the key attractions for logistics operators in West Berkshire.
The latest West Berkshire Property Market Industrial Update from Haslams Surveyors says more economic choice and competitive rents are helping bring some national and international occupiers to the district, including John Lewis and Amazon.
The report notes while the Berkshire industrial market is seeing rents in the mid to high teens in Reading and Bracknell and more than £20 per sq ft in Slough, areas of West Berkshire boasts rents as low as £12-13 per sq ft.
It states that the area also has a skilled and educated working population of just under 86,000.
Its large industrial parks include Greenham Business Park to the south of Newbury, Hambridge Lane, Kennetside Industrial Estate to the east of Newbury, Colthrop Business Park in Thatcham and the Theale industrial area at J12 of the M4.
Haslams partner Ed Ponting said: “As our latest report demonstrates, the West Berkshire industrial sector has continued to evolve as the accessibility and amenity offering of the location is fully realised by landlords, developers and occupiers.”
Prime rents in West London are well over £20 per sq ft, he said. That, combined with rail and road improvements, are giving West Berkshire an opportunity to have its own identity.
He went on: “The location has an exciting opportunity to rebrand itself if development on the ground continues.
“Recent new developments and quality refurbishments in West Berkshire have been underpinned by consistent rental growth and a lack of stock, however, supply is again beginning to dwindle as seen across the wider region.
“As build costs flatten, yields harden, and with some political certainty, at least domestically, we are hopeful that an invigorated development cycle can emerge in the coming months.”
© Thames Tap (powered by ukpropertyforums.com).
Sign up to receive our weekly free journal, The Forum here.
