2023-05-17-莱坊-M25_Key_Markets_2023_20页_796kb

Heathrow

• Key Trend: Prime rent stabilized at approximately £38.00 psf.
• Take-up: High vacancy rates (23.6%) persist, with most space concentrated in Stockley Park.
• Demand/Supply: Focus on mixed-use developments (e.g., Bloom at Bedfont Lakes) and cluster formation in TV/tech. Future success may depend on space optimization and ESG upgrades.

Maidenhead

• Key Trend: Prime rent rising to £43.50 psf, driven by high-quality developments like Tempo and Legal & General’s project.
• Take-up: Strong leasing activity, especially in Grade A space.
• Future Outlook: Delivery of premium offices (NABERS-rated) and mixed-use regeneration (Landing) will influence market dynamics.

Slough

• Key Trend: Prime rent stabilized at ~£37.00 psf; Bath Road is transitioning to tech/data hubs.
• Take-up: Decline in traditional office demand, spurred by ESG-focused developments like Botanica and Ditton Park.
• Future Outlook: Elizabeth Line (HS1) connection to London enhances appeal; mixed-use developments signal potential transformation.

Watford

• Key Trend: Prime rent decreasing slightly to £40.00 psf; high vacancy in Clarendon Road due to mixed-use developments.
• Take-up: Significant transactions (e.g., Medivet & Rontec) support steady absorption.
• Future Outlook: Watford's (OOT) market depends on occupier movement northbound and integrated development opportunities.

West London

• Key Trend: Prime rent peaks at £62.00 psf in Hammersmith, driven by high-floor Grade A spaces.
• Take-up: Slower absorption in 2022, but London occupier activity pulling demand into high-value addresses.
• Future Outlook: Re-generation schemes (e.g., Knightsbridge Refinery, Yoo Capital’s Olympia) set new benchmarks for quality and ESG.

Brighton

• Key Trend: Stiff competition for prime Grade A space; prime rent holds around £40.00 psf.
• Take-up: High sub-prime absorption; TMT sector remains dominant amid industry shifts.
• Future Outlook: Development pipeline lacks top-tier prime locations, but emerging sub-prime spaces face absorption risks.

Bracknell

• Key Trend: Prime rent ~£31.00 psf, with notable Grade B vacancy.
• Take-up: Moderately strong (52k sq ft), but below pre-pandemic levels; office-to-residential conversions ongoing.
• Future Outlook: Office upgrades (e.g., Capitol Building) aim to align with post-COVID flexibility trends.

Reading

• Key Trend: High vacancy (14.8%) but lower prime rent compared to west London (£43.50).
• Take-up: Strong corporate activity signals resilience (304k sq ft), driven by TMT/FBS.
• Future Outlook: 'Fitted' office demand surges; Plaza regeneration boosts quality, but supply pipeline concentrated away from core.

Uxbridge

• Key Trend: High vacancy (11.7%); prime rent holds at ~£36.00 psf without premium.
• Take-up: Declining absorption since 2022; demand concentrated in Arc/Uxbridge secondary zone.
• Future Outlook: Challenges remain, unless crossrail/ULEZ boosts connectivity, improving rival to central London options.

Oxford Town Centre

• Key Trend: Highest reported vacancy (30%) in the Golden Triangle, with prime rent ~£62.50.
• Take-up: Laboratory demand dominates activity (64k sq ft), with limited office absorption.
• Future Outlook: Supply imbalance worsens; regeneration projects (Harwell Campus) target lab expansions.

Cambridge

• Key Trend: Prime Grade A vacancy 3.8%; lab prime rents £62.50, office £70.00.
• Take-up: Over-subscription signals strong demand (336k sq ft absorbed); biotech and university-led growth key.
• Future Outlook: Supply constraints continue; regeneration projects (e.g., South station) aim to capture London溢出.

Crawley/Gatwick

• Key Trend: Vacancy 13.8%; investors seek returns across ~£32.50 psf prime grades.
• Take-up: Notable but not record; post-COVID structuring changes mixed-use profiles.
• Future Outlook: Tendering for 15 projects hints at near-term destocking; mixed-use viability uncertain.

Croydon

• Key Trend: Prime vacancy low (7.5%), occupancy rising; prime rent ~£40.00 psf.
• Take-up: Council viability concerns masked strong professional services sectors.
• Future Outlook: Finishing of major project (28 Dingwall) sets benchmark; demand holds despite council instability.

Guildford

• Key Trend: Steady vacancy (5.8%); prime rent £40.00 psf.
• Take-up: Gaming sector drives absorption (~39k sq ft); station-centre projects under way.
• Future Outlook: Supply planned > demand; luxury schemes (e.g., British Land’s Science Park) target high-end sector.

Staines

• Key Trend: Prime rent ~£36.50 psf; moderate vacancy.
• Take-up: Strong in 2022 (ADP included); gaming and traditional sectors coalesce.
• Future Outlook: Fintech sector interest offsets churn; residential pressures in core town centre ongoing.

SW London (Putney, Wimb)

• Key Trend: Prime vacancy (Putney 6.7%, Wimb 8-10%); prime rent ~£57-60 psf.
• Take-up: Lower absorption despite activity; London-centric firms utilise proximity to core.
• Future Outlook: Developer projects under way create Grade A appeal across multiple hubs.

Blackwater Valley

• Key Trend: Prime vacancy 6.8%; prime rent £29.00 psf.
• Take-up: Strong for defence, security sectors post-Ukraine; aerospace hub demand rising.
• Future Outlook: Construction pipelines focus on Basing/Avero hubs; long-term demand outlook linked to industrial strategy.

Woking

• Key Trend: High vacancy (10.1%); prime rent £38.00 psf.
• Take-up: Slower absorption; but inbound migration from Guildford strengthens outlook.
• Future Outlook: Station upgrades support appeal; prime sector continues incremental rent growth vs secondary.