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The Heathrow office market is now almost solely focused on Stockley Park and Bedfont Lakes. The last five years have seen significant erosion of office stock along the Bath Road to residential and hotel use, other than the specific air-related users.
Stockley Park is already home to big-name brands such as Gilead, IMG, Apple, Canon and Marks & Spencer. With current supply levels reaching a historic high, landlords are having to work harder to deliver a more appealing and differentiated product. The recent delivery of 6 Roundwood Avenue (Kennedy Wilson) and Union (Tritax/Marick) provides the market with this quality of supply.
Rental levels are likely to remain in the high £30s per sq ft until take-up levels return and the existing levels of supply reduce. The post-pandemic office world could lend itself well to Heathrow as businesses seek a green, healthy business park environment with easy travel routes to both central London and Heathrow Airport.
Photo Credit: Union Stockley Park
Market Data
