It may only be early September but the portents for the next few months look promising for the M4 office market. After a quiet summer period three important announcements have set a positive tone for the sector – a letting confirmed, a spec start, and a major step forward at one of the region’s best development opportunities.
Rackspace has confirmed that it will take over 100,000 sq ft at Hyde Park in Hayes, rent and lease terms are confidential but this is a great deal for landlord LaSalle and Hermes in the face of stiff competition.
In Chiswick, BAM Properties is to make a start on it’s 81,500 sq ft Chiswick Green office building without a tenant lined up. This will be one of the first spec office schemes to be built since the property crash three years ago.
Finally, Stanhope has joined the development team on Sackville Properties’ exciting Station Hill office and residential project in Reading town centre. The 1.7 million sq ft office and residential proposals still require a funding partner but with the experience of Stanhope on board will add further credibility to the scheme.