South: LSH responds to announcement that Crossrail will extend to Reading

Commercial property consultancy Lambert Smith Hampton (LSH) has commented on the Government’s announcement that Crossrail will be extending to Reading and on the impact this will have on Reading’s commercial property market. 

Nick Coote, head of LSH’s Reading office, said: “This very good news for Reading’s commercial property market. Office occupational costs in West London are currently 60% higher than Reading so that gap, and the increased frequency of trains between London and Paddington brought by Crossrail, will stimulate a lot more interest in Reading and particularly its town centre for office occupiers.

"Following the £900 million upgrade of Reading’s rail station, investors and developers, certainly the smart ones, are already positioning themselves for a changing dynamic in the town centre and we can see this through the development of Reading’s premier office building One Reading Central and the office refurbishments of Phoenix, Reading Bridge and Aquis House, all located right by the improved rail station.

"Extending Crossrail through Reading should give the town even greater ability to retain, attract and accommodate creative talent rather than seeing it migrate to London, further helping to attract office occupiers to the town.”