Haslam’s Reading Industrial Market 2017 reports record year 

Haslam’s Reading Industrial Market 2017 reports a year of prime industrial rents, unprecedented take up, and a national record for an industrial forward funding in Reading.

2017 saw a record take up of industrial space at 649,325 sq ft which is 27% more than 2016 and 31% above the 5 yearly previous average.  Haslams predict that 2018 will get off to a strong start with at least 15% of the current “available” stock under offer.

The major lettings include:

  • Argos leased a brand new unit of 75,000 sq ft at Island Road. The unit will be used as a distribution centre and forms part of their new strategy following the takeover by Sainsburys. 
  • DHL signed a pre let on 100,370 sq ft at Exton’s Island Road. The facility will be used by their air freight division and construction will start shortly.
  • SAS International, a large interiors company, signed a pre let on 44,000 sq ft at Suttons Business Park.
  • Universal Electric Corporation (UEC) leased a brand new 55,972 sq ft unit at Island Road. UEC are relocating from Slough and will use the unit for general storage and distribution requirements throughout the UK.  

Even with land in short supply there are new units planned for 2018 which will help the supply situation. Kier are on site with Reading Trade City which will provide much needed good quality stock of trade and industrial units less than 10,000 sq ft. Aberdeen Standard could speculatively develop Plot C at Suttons Business Park which would provide 31,150 sq ft and similarly, McKay could build out their recently secured planning consent of 135,000 sq ft at Theale Logistics Park. 

One transaction stood out on a national scale. Exton Estates secured forward funding for two distribution warehouses of 100,370 sq ft and 16,000 sq ft on an eight-acre site at Island Road, south of Reading and adjacent to Peel Logistics’ brand new 3 unit development referred to above. 

This deal provides strong evidence for developers and investors going forward.

More information at http://haslams.co.uk/Download the report here

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 

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