Reading: Surge of lettings at Access 12 in Theale

There has been a flurry of lettings at Theale-based Access 12 in the past few months, bringing the estate's letting to almost 80%.

In total six units have recently let: 

• Xerimis has leased 13,129 sq ft within Unit A2
• The Fitters Friend has leased 3,397 sq ft within Unit D3 and Unit D4
• La Compagnie des Animaux UK has leased 1,268 sq ft within Unit B1
• Assa Abloy has leased 2,054 sq ft in Unit B5
• The 43 Club has leased 1,119 sq ft within Unit D5.

The development comprises 16 high-quality warehouse units of between 1,119 sq ft and 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-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 at Haslams Chartered Surveyors, which advises 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 past 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.