M4 office market on the up

The fortunes of the office market in M4 corridor are improving say leading agents Hanover Green.

According to latest information provided by Hanover Green, office vacancy rates throughout the key Thames Valley centres have fallen during the first quarter of 2011, leading to an increase in prime rents and a reduction in landlord’ incentives. The lack of new development and a number of occupiers facing lease expiries or with break options are key factors in the market.

Locations such as Reading, Maidenhead, Heathrow, and Hammersmith have all seen significant office take up in the first three months of this year.

Kevin Hawthorn of Hanover Green says: ” The Thames Valley is the most significant office market outside London. As such we are now seeing improved occupier and investor confidence rippling out from the capital and impacting on our market. “