Alder King’s mid-year report shows strong take-up for Swindon office space
Demand for offices in Swindon has increased significantly in the first half of 2014, according to Alder King’s mid-year Market Monitor Update.
By mid-2014 demand for office space had hit 160,000sq ft – close to the 199,000sq ft achieved in the whole of 2013.
With demand high, supply has fallen – available office space in mid-2014 stood at just 850sq ft – a four-year low.
Town centre rents have improved slightly, while out-of-town rents have remained static.
Report author James Gregory said: “The town centre has seen the greatest level of take up for many years as a result of rail-related businesses taking space in support of the electrification of the London Paddington to Cardiff railway line.
“The 34,000sq ft letting of Interface House at Royal Wootton Bassett to Swindon Silicon Systems has led the out of town activity closely followed by the 29,000sq ft letting at Trilogy, Kembrey Park to Nationwide.
“There is now a distinct lack of good quality office stock readily available in the town centre leading to various discussions regarding potential refurbishments of secondary stock. Several other poorer quality properties are likely to be converted to residential in the near future.”
For a copy of the full report, log on to www.alderking.com/media/140733/HD1553-Market-Monitor-June-Update-14-4-.pdf