The encouraging factor for the region, as well as the broader UK economy, is the strength of demand for industrial property.
Coming at a time when the pressure for a national industrial policy is growing, this will be encouraging for the politicians.
Part of this process is the development of science parks in Oxfordshire, indicating the developers’ (such as MEPC at Milton Park) desire and ability to build new space.
Indeed, there is a readiness throughout the Thames Valley to develop new space. For example, Reading is to get a major new scheme at Royal Elm Park as well as continuing developments elsewhere, such as the White Building, for refurbished space.
One noticeable trend is the strength of the industrial market in West London where lettings are so buoyant. Hopefully, the impetus spreads the development westwards along the corridor.
An important factor in the positive mood is that the Thames Valley is getting improvements in transport that suits its status as the main area for high tech companies. Links to Heathrow, vital for the wellbeing of the area, are important and needed ahead of the third runway.
Surely the fact that the Elizabeth Line offers so many new stations and places for new development, is equally as important.