There has been a flurry of lettings at Access 12 in the last few months. In total 6 units have recently let; Xerimis Ltd has leased 13,129 sq ft within Unit A2, The Fitters Friend Ltd have leased 3,397 sq ft within Unit D3 and D4, La Compagnie des Animaux UK have leased 1,268 sq ft within Unit B1, Assa Abloy have leased 2,054 sq ft in Unit B5 and The 43 Club have leased 1,119 sq ft within Unit D5. This recent activity means the estate is now almost 80% let.
The development comprises of 16 high quality warehouse units of between 1,119 sq ft to 13,129 sq ft which aim to meet the requirements of businesses of all sizes, within a secure environment. The specification includes: electrically operated loading doors, three phase electricity, 6m to 8m eaves height, double-glazed windows and generous yards within a pleasant landscaped estate.
In addition, plans are soon to be unveiled for refurbishment of Theale Technology Centre, adjacent to Access 12 and also owned by Aberdeen Asset Management. Units 2 and 4 will shortly be coming available offering 6,837 sq ft and 3,205 sq ft respectively. The units will be undergoing a full refurbishment to include; new roofs, new cladding and an extensive internal refurbishment. Eventually the units will be incorporated into the Access 12 development to provide one contiguous estate.
Eilidh McAllister, Associate at Haslams Chartered Surveyors, who advise the landlord, Aberdeen Asset Management, said: “These recent deals show there is strong demand for good quality warehouse accommodation in Reading and the estate is quickly filling up, the proposals for Theale Technology Centre will give a much needed boost to this part of the estate. The majority of transactions last year took place on units of less than 5,000 sq ft, so we’re expecting to see continued success throughout 2016.”
The Thames Valley industrial property market has seen unprecedented levels of activity during the last 12 months. Greater Reading in particular continues to see a high level of demand from occupiers looking to relocate within the area with stock levels at an all-time low. In 2015 there was a total of 553,000 sq ft of transactions of industrial stock. Based on this level of take up and current stock levels there are only two years supply of stock available in the market.
For further information on the development please contact the joint agents Haslams on 0118 921 1515 or Lambert Smith Hampton on 0118 959 8855.
Added by
Neil Seager
BSc (Hons) MRICS