West London Commercial Property Shows Resilience

Industrial property has performed well in the first half year in West London, reported Jones Lang LaSalle. The total of industrial property let in the Western Corridor in January-June was 147,711 sq.metres (1.59 million sq.ft.) of which roughly half was in West London, the majority of which was Grade B. This was 3% above the same period of 2009. Bridget Outtrim of JLL said: “While transactions across the region have reduced, West London has remained relatively resilient which is, perhaps, surprising given its exposure to the volatile air cargo sector around Heathrow. It has a broad occupier base and the lull at Heathrow has been offset by activity around Park Royal and the A40.” She also suggested that the market was benefiting from the need to supply goods and services to London’s huge and growing population and “combined with an ability to stem the flow of development activity relatively quickly, has carried West London property through a difficult period.” Landlords have been quick to respond to a tougher market by cutting rents in 2009, and between 2% and 4% this year. The office market in West London has also been resilient, exemplified by Tullow Oil leasing 12,449 sq.metres (134,000 sq.ft.) at Chiswick Park, the largest office letting in the Thames Valley. An oil services company, Baker Hughes, is also taking 2,044 sq.metres (22,000 sq.ft.) on the park while there are smaller lettings to Intelsat and Bluefin Solutions.


The Thames Valley Commercial Property Register

The Thames Valley and Heathrow Commercial Property Register is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space in Thames Valley , Serviced Offices in Thames Valleycommercial property in the Thames Valley area. You can also find the latest commercial property news for the Thames Valley region.