Bracknell: Office take-up strong as town reflects on solid 2017

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TBM Team

A total of 330,000 sq ft was let in Bracknell, significantly ahead of the five-year average, reports Fryer Commercial. The agent said 30,000 sq ft is already under offer this year.

Supply is at 425,000 sq ft, 7% of stock, from 2m sq ft or 33% in 2008. As a result, most landlords have increased asking rents, with the highest standing at £28 per sq ft.

Fryer Commercial said the 2017 take-up figure had been "somewhat skewed by the number of buildings that went or have aspirations to go residential, under PD (permitted development)."

Fryer also said that 10 of the total of 39 lettings in the year amounting to 25%, were 'displaced' tenants. These deals totalled 110,000 sq ft or 33% of the total sq ft of take-up.

Simon Fryer said: "Nevertheless, it was still a good year, coinciding with the completion of The Lexicon shopping centre, and an improved Reading/Waterloo train service. Most of the 'frontline' buildings shared in this success, notably Maxis, Greenwood, Columbia, One & Three Arlington Square, Capitol, Western Peninsula and Inspired."

The largest lettings involved Panasonic, Allegis, Riverbed, Bracknell Forest Homes, Snow Software, Towelrads (purchase), ON Semi Conductor, Displaydata and Software AG.

The largest building remaining available is the 100,000 sq ft Atrium Court, of which 70,000 sq ft is available through Knight Frank and Fryer Commercial.

Source: CoStar

TBM Team