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Commercial property in Reading shows improvements in 2011
30 Jan 2012
Commercial property in Reading performed well in 2011, showing that a greater number of people may be looking outside of London.
Data from Hicks Baker, reported by Get Reading, showed that office take-up in the region was up 21 per cent on 2010, with a lack of business confidence across the UK having seemingly little impact on the town.
Speaking to the news provider, the firm's Stephen Head said he expects commercial property to keep performing well this year.
“Total take up for offices will remain broadly the same, expect fewer but bigger deals," he added.
“The underlying market sentiment is still very cautious and there will be some tough bargaining, but we said the same last year and look what happened.”
Big deals done in Reading last year included Oxford Properties’ purchase of Green Park from Prudential for over £400 million.
London has fallen out of favour with commercial property owners in recent months, with PricewaterhouseCoopers' index showing that it had dropped from first place to tenth.
Posted by Michael Brown
