We’ve heard a lot from ‘over the pond’ about so-called fake news. Well, here are the undisputed concrete yet buoyant facts that ‘float the boat’ for Slough being one of the best places in the UK to live and work. (Yes, that claim is supported by a professional fact-based survey, as you’ll read below).
In addition to these business attributes, last September, Slough was hailed as the top UK town or city in which to work – beating Manchester and Cambridge in the top three – following a nationwide survey by recruitment specialist Glassdoor. The survey compared the UK’s 50 most populated towns by assessing factors including location, employment opportunities, cost of living and job satisfaction.
Glassdoor’s research shows Slough offers a good quality of life for employees, with a median salary of £35,000 per annum, the average house costing £390,000, and an advertised 26,000 job vacancies.
With a GVA 30% higher than the national average, Slough was also rated as the ‘most productive place per worker’ in the UK, ahead of London and Reading, according to the Centre for Cities Outlook 2017 study.
From 2004–14, Slough’s population grew more than any other UK city, at around 1.8% per annum. Today Slough is home to 4,600 businesses and its highly competitive and dynamic business environment contributes around £8 billion to the national economy – double the UK average.
Nancy Lalor, acting CEO of Learning to Work, a member of the Slough Chamber of Commerce, was reported as not surprised by the Glassdoor revelation: “We’ve got so many head offices that are based in Slough, so many ‘corporates’, and an amazing trading estate with over 350 businesses on it, so I think it’s really on the up.
“There’s so much new-build, so much development going on in the town, every few months the whole look of the town is changing and I think people are inspired by what’s going on.”
Dr Andrew Chamberlain, Glassdoor’s chief economist, said Slough is in a part of the country that offers “pleasant environments” meaning “an increased quality of life for employees”.
He added: “Although people in London are generally satisfied, it has proven not only to be an expensive place to live, but also an ultra-competitive city in which to find a job.
“With large multinational businesses establishing themselves in Slough, along with high average salaries and close proximity to major transport hubs such as Heathrow Airport, the Berkshire town has now emerged as a prime spot to live and work.”
Lalor and Chamberlain’s comments may be somewhat partial, but their words about Slough changing and emerging as ‘a prime spot to live and work’ are supported by very real and solid local developments and town regeneration improvements.
A promising future based on major nationally-strategic developments ...
Western Rail Link to Heathrow (WRLTH)
Heathrow expansion
Key rail and road infrastructure projects
... an ongoing town regeneration partnership ...
Slough Urban Renewal (SUR) – the joint venture between Slough Borough Council and Morgan Sindall Investments (MSIL) – is one-third through its 15-year partnership to deliver regeneration across the borough, and has already won numerous local and international awards.
SUR is helping to radically change perceptions of Slough by delivering a wide range of improved residential, commercial, educational, leisure, health and social infrastructure projects.
In the wake of Slough’s strikingly re-styled rail and bus stations, and The Curve – an architecturally dramatic showpiece public facility, incorporating a library, cultural space, registrar’s office, a theatre, performance space, and other civic amenities – SUR town regeneration projects amounting to more than £1 billion are underway:
... plus market-leading office developments ...
... and beneficial regional business trends
At the end of January, GVA’s Crossrail Property Impact & Regeneration Study: 2012 – 2026 Report concluded that the Elizabeth Line (Crossrail) will have a much greater beneficial impact on London and the South East than previously predicted. The major infrastructure rail project is already rejuvenating towns along its route, attracting more businesses and residents, bringing new homes and offices, growth and opportunities.
CoStar property market analysis reveals that many more occupiers are now consolidating their disparate offices, “reassessing locations that will be served by the Elizabeth Line.” CoStar acknowledges SUR’s development progress and that Slough’s recent town centre developments are “well-positioned to capitalise on any Crossrail-induced office demand.” Last year, Slough also recorded one of the highest rates of Berkshire and North Hampshire office rental growth, its average rents being around 5% above the market average.
South East business space agent RARE also highlighted the Elizabeth Line as driving decisions. RARE said prime occupancy costs increased last quarter by 3% along the M4 corridor with spikes in Slough – up by 20% due to its choice of new office completions.
Real estate consultant JLL agreed that the Elizabeth Line and strong market fundamentals made the Western Corridor market (West London/Thames Valley) well-placed for the year ahead.
According to Cushman & Wakefield’s Co-working 2018 report, UK demand for flexible workspace soared to record levels in 2017, leasing activity virtually tripling (from 6% to 17%) last year in the UK’s nine largest cities.
Two-thirds of the UK flexible workspace market is now outside London, Cushman revealed, with the trend spreading well beyond the capital for the first time, and across all types of business. Cushman predicts flexible workspace will account for 10% of the UK office market by 2027.
JLL also expects further growth, citing significant interest from co-working and serviced office operators acquiring space, which accounted for 18% of Western Corridor leasing transactions. Well-located, good quality space, remains a primary focus for occupiers.
The answers lie in the soil
If the above facts don’t make Slough’s case for you, then go to the town and see for yourself the changes that are happening there now.
You’ll no doubt discover that your answer really does ‘lie in the soil’ since the name Slough was first recorded in 1196 as ‘Slo’, likely derived from the Old English word ‘Sloh’ meaning muddy soil.
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