Confidence returns to Bracknell office market

Berwick Hill Properties, advised by joint-agents Savills and Jones Lang La Salle, has reached practical completion on London House, its new office development in Bracknell.

The Grade A property comprises 13,753 sq ft (1,278 sq m), arranged over three open-plan floors, with 51 car parking spaces. Practical completion took place according to schedule and the agents are now actively taking viewings at the building. The quoting rent is £26 per sq ft (£280 per sq m).

Jonathan Gardiner, director of Savills’ regional offices team, says:
“This is a great property, set in one of the most prominent core business locations of Bracknell and constructed to Grade A specification, we therefore expect to raise the bar on current rents achieved in the area.”

Steve Lang, director of Savills’ research team, adds:
“Once again there is confidence in the Bracknell market. Take-up rose by 94% in 2006 compared to the previous year and rents have remained resilient around the £25 per sq ft marker.

“The majority of demand last year came from the technology sector, which has come to recognise the strategic position of Bracknell within the Thames Valley region. Coupled with this there is anticipation of the comprehensive town centre regeneration, and therefore Bracknell will inevitably emerge as one of the leading office centres along the M4 over the next couple of years.”

London House is situated at the western end of London Road, within close proximity to the town centre. It forms part of a portfolio of three neighbouring redevelopment sites, brought by Berwick Hill Properties last year from the Meteorological Office.

Located to the west of the property is London Court, an 8,160 sq ft (758 sq m) office building, extensively refurbished by Berwick Hill in 2006, which has already seen lettings on the ground to Orion Group ltd. To the east side of London House lies a site formerly known as the Hadley Centre, where works are currently underway to build a brand new £8 million Travelodge Hotel.

Jones Lang La Salle and GVA Grimley advise Berwick Hill on London Court.