CoStar Analysis: Office demand on track in Berkshire & North Hampshire

By Chris Johns - Thursday, February 08, 2018 14:44

Berkshire & North Hampshire remains the South East’s most in-demand market in which to rent an office, according to CoStar’s recently launched analytics and benchmarking tool.

Strong demand, both from native and migrating firms, meant net absorption in the market was almost 300,000 sq ft over the last year. The biggest move saw SSE increase its occupational footprint when it finally relocated to its new 186,000 sq ft Reading headquarters in Q2 2017.

Elsewhere, Maersk (57,000 sq ft) and the Rank Group (38,000 sq ft) both relocated to Maidenhead in Q1 2017, vacating space in Central London in the process, while Becton Dickinson (61,000 sq ft) completed its move to Wokingham in Q3 2017 after closing an office in Oxford.

The arrival of Crossrail in 2019 is undoubtedly supporting demand within Berkshire & North Hampshire, with submarkets on or close to the Crossrail route posting the strongest demand.

Central Reading, Maidenhead, and Slough - all of which will soon be served by Crossrail - have all performed well over the past 12 months (see table). And looking forward, with most recent construction within the market positioned close to the route, these locations are well placed to capitalise on further Crossrail-induced demand in the coming years.

CoStar’s latest Berkshire & North Hampshire office report can be viewed here.

Such analysis is now possible at a few clicks of a button thanks to the release of CoStar’s new market analysis and benchmarking tool. For more details on the new features, which include the ability to rank markets and submarkets across different sectors/regions using a variety of different metrics, please log in to CoStar and visit the Markets & Submarkets page (click here for a quick guide). Alternatively please contact your CoStar account manager to organise a training session.

Key features and benefits of the new analytics tool include:

• Instantly compare and rank the performance of more than 700 office and industrial markets and submarkets, across 12 key variables, to identify opportunities and risks. This analysis can also be segmented by building quality.

• Ability to peer markets and submarkets by region and against a national benchmark.

• Reports for every office and industrial market and submarket across the UK, which are now updated daily to reflect the latest market developments.

• Reports have been enhanced with new functionality, including five-year forecasts for every market and submarket, and links to building reports in the live product.

• More than 150 reports contain written analysis, including areas seldom reported on. This will rise to more than 200 by end of Q1 2018.

cjohns@costar.co.uk

 

Get in Touch
+44 203 205 4600