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A Look Back
Leasing activity in Maidenhead proved to be very healthy in 2022. This mainstay of interest was out-of-town, specifically, JP Morgan's Foundation Park, where Ultra Electronics took a 56,283 sq ft pre-let of a hybrid unit. At the same time, Biogen and LabCorp acquired space in their existing buildings.
With Maidenhead Office Park now focused on submitting a change of use planning application to industrial and Vanwall Business Park, starting the transition into a more mixed-use park, the OOT supply chain is tightening.
The Landing mixed-use development continues to take shape and will form a big part of the Maidenhead regeneration. Initially, to deliver over 400 residential homes, the development will include over 100,000 sq ft of offices, 36,000 sq ft of restaurants/retail and 27,000 sq ft of public space.
A Look Forward
The big story in Maidenhead is the delivery of Legal & General's Tempo building immediately opposite the train station and at the doorstep of Maidenhead town centre. 150,000 sq ft of the highest quality office space, with ESG at its heart, will be delivered in Q4 2023. The building will be one of the first NABERS-rated facilities in the South East and will include a café, gym/studio space and three communal rooftop pavilions around an 8,000 sq ft terrace.
Rental aspirations in Maidenhead will rightly align with the depth of quality, ESG, service and amenities offered to occupiers at Tempo, with expectations that rent will reach the high £40s in 2023.
Future gazing – the next phase of Maidenhead's regeneration focuses on the Nicholson Quarter. Almost 1.5m sq ft of proposed mixed-use space will transform Maidenhead Town Centre with an injection of office, retail, restaurant, leisure and residential accommodation. The exact timing of this is still TBC.