Demand for Swindon office space at highest level since recession
Demand for offices in Swindon has witnessed the highest level of take-up since before the recession, according to the first Market Monitor of the year by commercial property agents Alder King.
Significant out of town demand came from Nationwide, which took 29,000 sq ft (2,694 sq m) at the Trilogy Building at Kembrey Park, and Swindon Silicon Systems, which took 34,000 sq ft (3,159 sq m) at Interface House, Royal Wootton Bassett, according to the the head of the Swindon office, James Gregory.
There was also significant improvement in the take-up of in town office buildings, with many service providers for the electrification of the mainline railway seeking representation close to the station. In-town transactions represented 30 percent of take-up.
However, there has also been a reduction in supply, as poorer quality stock is converted for residential use.
In stark contrast, demand for industrial premises was at its lowest level since before the recession.
The largest letting in 2014 was Signalling Solutions Limited’s move to Dorcan Industrial Estate, closely followed by Aldi taking two further buildings at South Marston Park.
Retail and leisure property was buoyant, with the majority of the Regent Circus development opening in November and December, and H&M taking a new 25,000 sq ft (2,326 sq m)store in The Parade in the town centre.
“Further public realm projects are planned for the town centre including Havelock Square, demonstrating the optimism for the main retail area,” writes Mr Gregory.
In all, the value of investments increased 14 percent over the year to £76.5m – the highest value of transactions seen since pre-2009.
A copy of the report is available from www.alderking.com/media/153933/Market-Monitor-2015.pdf