Berkshire: Reading property market in the spotlight at Savills event

The Thames Valley has experienced consistent growth over the past few years, and Reading is the strongest-performing office market across the whole of the South East. Savills will be revealing its latest research into the Reading property market at an afternoon seminar taking place on Thursday September 29.

“Since 1991, 11.2 million sq ft has been transacted in the town – more than double that of the second-strongest office market, Slough,” said Phil Brown, head of Savills Reading office. “On the residential side, values have steadily increased by upwards of 15-20% since the announcement of Crossrail in 2013."

‘Spotlight on Reading’, which runs from 4-6pm at the recently-completed R+ building, will offer an insight into the first three quarters of 2016 and, crucially, the impact of political change and the decision to leave the European Union.

Savills will also offer an alternative view on the commercial market from across the pond; and Nigel Howe, CEO of Reading Football Club, will talk guests through his vision for a new housing, leisure and retail scheme at the club’s Junction 11 site.

The residential market will also be considered in the context of its relationship with the commercial markets.  A 2016 British Council for Offices (BCO) report showed that, for office occupiers, staff account for 55% of total corporate costs versus 15% for office property costs. Keeping staff happy is vital and the importance of commute times is paramount, therefore understanding the residential offering is also a crucial element.

As part of the event, Savills commercial research analyst Steve Lang will discuss the question of what workers want from their office workspace. The BCO and Savills conducted a survey of office workers across the country which received over 1,100 responses.  It looked at preferences for location – whether workers prefer to work in town centres, business parks or rural locations; preferred means of transport; the importance of having shops nearby; and views on issues such as wearable technology in the office and standing versus sitting at desks.  Lang’s presentation will focus on Berkshire and offer a current and local view.

To attend the ‘Spotlight on Reading’ event, contact Ali Bird at Savills on 0118-9520518 or email: ajbird@savills.com.

 

Thames Valley Occupiers' Survey

Savills and The Business Magazine are compiling a Thames Valley Occupiers' Survey to gauge sentiment in the region in relation to employment trends, and aspirations for commercial property in terms of locational preferences, drivers and business sentiment.

Please follow this link to respond to the survey:  https://www.surveymonkey.co.uk/r/CM73ZG7

The preliminary results will be announced at the Savills ‘Spotlight on Reading’ seminar on September 29.

All completed surveys will be entered into a draw to win a Champagne lunch for two at the renowned Forbury's Restaurant in Reading.