Bracknell: Audatext acquires HQ building for its own use

Audatext has bought the 53,000 sq ft Worldwide House offices on Western Road in Bracknell from CBRE Global Investors for its own occupation.

Audatext, the vehicle repair digital group, is understood to have agreed to pay around £220 per sq ft for the building in one of the largest owner occupier moves in the South East in 2018.

The group is currently based at the Forum in Theale.

CoStar market analyst Henry Murray said: “The Bracknell Forest submarket has seen strong office demand in recent years, with vacancies falling steadily from around 13% in 2017 to 9% in early 2019 (and from more than 25% in 2010). The submarket has attracted a swathe of TMT occupiers in the past 12 months, with significant moves by the likes of JDA Software, On Semi-Conductor and Quest Software all contributing to healthy net absorption.

“One factor is rental discount versus nearby Reading, with rents in Bracknell around 20% cheaper than its larger neighbour. Another factor behind the town’s recovery is the recent regeneration of Bracknell town centre, with the 1m sq ft Lexicon opening in late 2017.”

Colliers International advised Audatext while Avison Young represented CBRE GI.

Source: CoStar