Office space in Reading
Ongoing investment into Reading ensures it maintains its position as one of the most attractive places for businesses to work in the UK, offering plenty of opportunities for firms looking for modern and affordable flexible office space.
The regeneration of Reading has continued apace over the past decade, which has encouraged landlords to update existing office infrastructure to entice businesses across a multitude of industries. The demand for flexible office space increases year-on-year and Reading’s providers are responding in kind. Start-ups looking for a few desks are able to set up operations in shared or co-working offices, while SMEs and larger companies have no problem locating serviced offices close to the centre of town.
Reading is known as the Thames Valley commercial centre and is one of the most important economic hubs in the south of England. The town also serves as headquarters for a number of large corporations who benefit from its close proximity to London. It remains an attractive location not only due to the competitive rates, but it is also a main transport junction point that allows direct access to a number of major cities across the UK.
Nearly £900 million was spent upgrading Reading train station back in 2015, further increasing the regularity of trains and connections. On average it takes approximately an hour to travel to London, while business travellers journeying further across the UK can use the station as a transfer point to remain on schedule.
While the town doesn’t have its own airport, Heathrow is only 25 miles away, so finding flights to other parts of the UK or anywhere else in the world for business purposes never poses a problem. Anyone travelling by road can easily access the motorway network via junction 11 of the M4.
Crossrail is also due to arrive in Reading by 2021, with six Elizabeth line trains passing through the town every hour, bringing the journey time to the centre of London or the Docklands down to less than an hour.
According to a report published by leading law firm Irwin Mitchell in mid-2019, Reading demonstrated the highest economic growth of any major city or town in the UK in last quarter of 2018. This ties in with the Centre for Cities Outlook 2019 report, who rated Reading as the second best area in the entire country when it comes to wages, jobs, high skills, productivity and business start-ups.
In terms of the number of businesses per capita, Reading has 474 per 10,000 people and ranks third in terms of productivity alone, which is a huge 25% above the national average. Unemployment in the town stands at a low 1.5%.
Thousands of new homes are being planned to bolster Reading’s reputation as a commuter town. With more people hoping to relocate to Reading in search of affordable housing, new job creation will increase in turn, further expanding the local economy and its impressive predicted GVA growth of 2.2%.
Reading is also rated as one of the top 25 European cities of the future in terms of Foreign Direct Investment (FDI). Further planned investment in the town includes 900,000 sq ft of office, residential and retail space in Station Hill and 370,000 sq ft of international HQ space in Forbury Place. The University of Reading are also proposing a multi-million investment into the creation of a new Science and Innovation Park.
Which businesses operate in Reading?
The information technology sector has a large presence in Reading, accounting for over 40% of all businesses in central Reading. As a result, it is rated as the number one employer in the tech cluster and is where you’ll find over 20% of the most successful private, independent tech companies in the south.
Some of the world’s most renowned finance, insurance and tech companies position themselves in and around the town centre. This is also Reading’s main shopping district featuring a number of retail centres, bars and restaurants, which produces an annual turnover of around £800 million.
Small businesses tend to gravitate towards the high street in Theale, which is located around 5 miles southwest from the town centre. You can also find a number of large business parks here such as Theale Technology Centre, Theale Business Park and Arlington Business Park.
Energy and renewable companies and the biopharma and biotech sector have taken up residency at Green Park Business Park. It features a number of wind farms spread across 195 acres of commercial real estate, and possibly has one of the most visible wind turbines in the UK.
Reading Rental Guide
The cost of renting flexible office space in Reading ranges from £120-£400 per person, per month. This depends on the office type, location and amenities included.
Below is a breakdown of the average cost of renting a flexible office space in Reading city centre*
*Guide prices per person per month, excl. vat.
Offices to Rent in Reading
If you’re looking for an office to rent in Reading, get in touch with the Prime Office Search team today.
Our independent experts are ready to assist you with your Reading office search; we provide a personalised approach, working with businesses of all shapes and sizes, offering an effortless way to find offices to rent in Reading.
Whether you’re an Individual, a start-up business, SME or a large organisation looking for a serviced office, coworking space, virtual or managed office space in Reading, our team of experienced consultants will work closely with you, to find your ideal Reading office solution.
Our portfolio comprises over 2,500 types of office space and meeting rooms available to rent in Reading and across the UK, all available on all-inclusive, flexible terms. Our service is 100% free and impartial, with no obligation.