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When Crossrail gets finished it will be well under the hour to the City and Canary Wharf.

Huge office blocks going up all over. Sadly let down by terrible red brick housing stock around the centre much of it ex rental and 2+1 bedrooms with downstairs bathrooms.

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Its about the same time, you just stay on the same train.

And the ticket will be a lot higher, to pay for the money spent.

Im not sure about offices near the station. On paper they make sense, esp. if theres a big london differential.

They never mnaged to fill up th office built in the late 80s. Always banners outside saying xxxxm2 available.

 

However ....

Office space at Green Park and TVP are not appealing as they need a connecting bus. Ive always been putoff by the thought of having a bus-train journey to work - too much to go wrong.

UK is well into a structural shift in commercial property, with shops closing at a rapid clip. The only thing thatll rescue those LL will be quick conversion into office space i.e. theres going top be a lot of office space coming on line, out of desperation.

Its likely that commercial (non retail) office space is goign to slump, both in London andthe outer places.

 

 

 

 

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If you think Readings let down by its housing stock, just wait til you put a kid in one of he non selective schools.

Chatting to old colleague with a ~14yo son. The distortions/commute the kids doing to avoid most of the crap schools is costing a fortune.

 

 

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12 hours ago, spyguy said:

They never mnaged to fill up th office built in the late 80s. Always banners outside saying xxxxm2 available.

That is true, there appear to be floors available in a few buildings south of the station.  I am happy they are building more though - it will eventually feed into cheaper housing

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On 18/06/2019 at 20:03, Bear Hug said:

That is true, there appear to be floors available in a few buildings south of the station.  I am happy they are building more though - it will eventually feed into cheaper housing

I should repeat that I think the area around Rdg station makes sense - treat it as a ~25m extension from Pdgton.

However ....

Not that many people in West London seem to think that way. I dont think Ive got out of a train at Rdg and never seen any 'Office available!' signs.

Id guess theyd need to work on the price/ticketing of trains tickets.

A ~25m journey on a train West from Pdgton, to me, would be more comfortable than a ~30m tube journey East.

Is the old foster wheeler office refurbed yet?

The likes of Green Park and TVP are a bad bet. The extra connection makes them a no go esp. GreenPark.

 

 

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4 hours ago, spyguy said:

I should repeat that I think the area around Rdg station makes sense - treat it as a ~25m extension from Pdgton.

However .... 

Not that many people in West London seem to think that way. I dont think Ive got out of a train at Rdg and never seen any 'Office available!' signs. 

Id guess theyd need to work on the price/ticketing of trains tickets.

A ~25m journey on a train West from Pdgton, to me, would be more comfortable than a ~30m tube journey East.

Is the old foster wheeler office refurbed yet?

The likes of Green Park and TVP are a bad bet. The extra connection makes them a no go esp. GreenPark.

 

 

They're off the M4 though so probably not that bad if driving.

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4 hours ago, Shamus said:

Not sure if this new train station at Green Park has been mentioned: https://www.inyourarea.co.uk/news/green-park-station-arriving-one-year-ahead-of-schedule/

According to that article it would be opening any time now...  According to a more recent article, they haven't approved the plans yet, so schedule is back to 2020

https://www.getreading.co.uk/news/reading-berkshire-news/23m-plan-submitted-green-park-16393388

Quote

The councils are due to make a decision on the proposal in the coming months. If approved the station could be opened by summer 2020.

Obviously this will double or triple house prices.  Who needs that Green Park?  When we can just all sit at home and let the house make the money.

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On 15/06/2019 at 13:01, spyguy said:

Bad news just keeps rolling in

https://www.getreading.co.uk/news/business/reading-prudential-office-set-close-16419454?utm_source=taboola&utm_medium=display&utm_campaign=exchange

A company which has provided employment for thousands of people for more than 50 years will close its offices in Reading as it shifts its focus to Scotland.

Prudential, which employs 600 people at its office in Kings Road, has announced it is to begin a "phased move" which will see its operation reduce from seven UK locations to three.

I wonder who will replace them, exciting times......https://www.getreading.co.uk/news/business/berkshire-towns-named-top-business-16477755

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1 hour ago, fandanman said:

There was chat of another thread - vanity awards.

In this case, councils pay money for someone to assess them, and surprise! - they win a prize for whatever the assesing company is assessing.

Here's the blurb:

Proximity to Heathrow and London is a major selling point – it’s just 25 minutes from Paddington and the future western terminus of Crossrail – but Reading is a top business location in its own right. It has an ambitious vision for its future, is one of the top 25 European cities for FDI and has long-standing clusters in IT, pharma, finance and professional services. The Reading Central Business Improvement District drives sustainable growth and the quality of life attracts talent – Reading has the highest wages outside London and 20 per cent of Reading University graduates join the local workforce.

Over £7m has been invested over the last decade in the Reading Central Business Improvement District, with another now planned for the Abbey Quarter.

I see crossrail raises its head.

Of those clusters, the finance one was just upped and left.

I can think of any notable large IT org thats relocated to Reading for years. Most of the companies left - HP (as was) and MS are either past it or relocating.

Surveys rely on weighting.

Heres one from a while back

http://news.bbc.co.uk/1/hi/england/berkshire/6564923.stm

All the negative factors have got worse over he last 20 years.

 

 

 

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  • 2 weeks later...

Six hundred and fifty jobs are to be cut by Thames Water as part of a plan to reduce costs.

The UK's largest water company, based in Reading, has told 350 members of staff they are at risk of redundancy.

It said a further 300 jobs would "potentially" be removed by not filling vacancies and through terminating contractor roles.

https://www.bbc.co.uk/news/uk-england-berkshire-48868030

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On 25/06/2019 at 12:44, spyguy said:

There was chat of another thread - vanity awards.

In this case, councils pay money for someone to assess them, and surprise! - they win a prize for whatever the assesing company is assessing.

Here's the blurb:

Proximity to Heathrow and London is a major selling point – it’s just 25 minutes from Paddington and the future western terminus of Crossrail – but Reading is a top business location in its own right. It has an ambitious vision for its future, is one of the top 25 European cities for FDI and has long-standing clusters in IT, pharma, finance and professional services. The Reading Central Business Improvement District drives sustainable growth and the quality of life attracts talent – Reading has the highest wages outside London and 20 per cent of Reading University graduates join the local workforce.

Over £7m has been invested over the last decade in the Reading Central Business Improvement District, with another now planned for the Abbey Quarter.

I see crossrail raises its head.

Of those clusters, the finance one was just upped and left.

I can think of any notable large IT org thats relocated to Reading for years. Most of the companies left - HP (as was) and MS are either past it or relocating.

Surveys rely on weighting.

Heres one from a while back

http://news.bbc.co.uk/1/hi/england/berkshire/6564923.stm

All the negative factors have got worse over he last 20 years.

 

 

 

MS are shrinking there but not leaving Reading - management however do prefer the Paddington office - so you can see the trend

equally no new IT firm will move to Reading, Millennials want big Cities so it’s London or Dublin as a tech / sales base and somewhere in Eastern Europe as back office.  

Edited by Houdini
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On 05/07/2019 at 06:06, Houdini said:

MS are shrinking there but not leaving Reading - management however do prefer the Paddington office - so you can see the trend

equally no new IT firm will move to Reading, Millennials want big Cities so it’s London or Dublin as a tech / sales base and somewhere in Eastern Europe as back office.  

Trouble is the cost for these millennials to live in London or Dublin can be prohibitive, so towns in the outskirts become next best choice. There's no shortage of people squeezing onto the GWR trains at reading station in the morning.

The critisism of its housing stock is misplaced.... Victorian terraces occupy half the landspace of a newer 3 bed semi, but if your childless and not needing a driveway it means more people can live near to the station so more efficient and convenient for more people.

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7 minutes ago, nightowl said:

The critisism of its housing stock is misplaced.... Victorian terraces occupy half the landspace of a newer 3 bed semi, but if your childless and not needing a driveway it means more people can live near to the station so more efficient and convenient for more people.

I have to disagree with you on the 'Victorian Terrace' argument.  I have lived in a few and they are, on the whole, unfit for the modern world.  I could here my neighbors sneeze in one house I lived in; most of them should have been pulled down years ago. You may cram more terraces into a small space but if you went down the 'back to back' route you could squeeze even more houses in.

And back to the topic of Reading being on the skids, I visited a friend just North of Reading (Woodcote) the other day and was staggered at the number of For Sale signs in the area.  Their house has been on the market for over six months and they have had one, not very serious, offer.  It was not like this three years ago, when despite the Brexit vote, Reading and surrounding areas seemed to be surprisingly buoyant.

 

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https://www.getreading.co.uk/news/property/berkshire-house-prices-falling-16535221

Quote

House prices across large parts of Berkshire have seen a considerable fall in less than a year.

The worst hit area is Bracknell Forest, where the average home is worth £15,000 less than a year ago after a 4.4 per cent drop.

The average price remains high at £329,884, but this is a drop of £15,095 compared to April last year.

The figure is the biggest drop since the height of the financial crash in September 2009.

...

Homes in Slough and Reading, Berkshire, are also down, by 3.7 per cent and 3.2 per cent respectively.

 

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https://www.getreading.co.uk/news/reading-berkshire-news/fears-muslims-bracknell-cut-rate-16548217

Quote

A Bracknell society is on the hunt for a new building to hold community activities - but they need your help.

The Bracknell Islamic Cultural Society is trying to raise £950,000 as part of its Masjid Project so they can buy their own building to hold community activities and host prayer meetings.

...

"Initially, our funding target was £800,000," said Mr Kukoiyii.  "Now it's £950,000, we're thinking of moving it to £1.5 million. It's changing.

Quote

This is a unique project as there is not a single mosque within Bracknell and the surrounding area. 

https://www.bracknell-ics.org.uk/Main/masjid-project/

Turns out Bracknell wasn't that bad. 

Eventually there will be at least one expensive property there.  That's unless HS2 and CrossRail headhunt these guys first, they seem to be perfect material for moving cost goalposts.

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11 hours ago, Bear Hug said:

https://www.getreading.co.uk/news/reading-berkshire-news/fears-muslims-bracknell-cut-rate-16548217

https://www.bracknell-ics.org.uk/Main/masjid-project/

Turns out Bracknell wasn't that bad. 

Eventually there will be at least one expensive property there.  That's unless HS2 and CrossRail headhunt these guys first, they seem to be perfect material for moving cost goalposts.

When I worked in Bracknell, which is coming up to ~25 years ago, the only muslim I knew worked in next office. He was an Iranian. He was quite happy to go to the pub and have a beer. He reckoned it was OK as long as he did not buy it.

Is this the start of the Luton-ification of the town?

I see theyve got a section on the 'Regeneration of Bracknell'

Heres me being told its the new SF.

JS94294687.jpg

 

Piccy looks a million miles from the robbing ratkids that used to hang around in front of MaccDs....

JS94451488.jpg

Ahh, theyve thought  of everyone.  A nice open space fr the flashers and rapists.

 

https://www.getreading.co.uk/news/reading-berkshire-news/bracknells-old-friend-bull-much-10959281

Councillor Colin Dudley said: "This is a new modern development protecting an old friend.

"It has suffered because Bracknell doesn’t really have a nighttime economy.

Well ... it does. However. Its not legal/above board and is mainly dealt from cars and motorbikes.

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On 26/07/2019 at 10:28, spyguy said:

the-bullJPG.jpg?

?

?

Yeah, looks like the architect thought they were building an airport, not extending an old pub.  Always confuses me why there are so many restrictions on upkeep of listed buildings (i.e. specified tiles, windows etc) but when it's an extension, any crazy idea sometimes goes.

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Horrible crash in Rdg

https://www.dailymail.co.uk/news/article-7310133/Huge-scaffolding-collapse-building-site-injures-two.html

Dont think it was windy.

This is hte PITA where car fee into a pedestrianise area outside  of station.

https://www.bbc.co.uk/news/uk-england-berkshire-49193855

The BBC reported in June that property firm Lincoln MGT has snapped up the highly sought-after development site, becoming its third owner in 13 years.

Im sot sure how you square  highly sought after with 3rd owner in 13 years.

 

 

 

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  • 3 weeks later...
On 05/07/2019 at 06:06, Houdini said:

MS are shrinking there but not leaving Reading - management however do prefer the Paddington office - so you can see the trend

equally no new IT firm will move to Reading, Millennials want big Cities so it’s London or Dublin as a tech / sales base and somewhere in Eastern Europe as back office.  

One of these daft surveys again.

https://www.computerweekly.com/news/252469002/Almost-40-of-UK-tech-talent-resides-in-London-bubble

Again, you have to take them with a pinch of salt but .....

A study of LinkedIn profiles by tech firm Accenture found a large part of the UK’s talent pool is collected in London, as well as around 187,427 technology companies.

But other cities around the UK also have thriving tech scenes, especially Birmingham, Manchester and Edinburgh, which have a talent supply of 8,543, 11,035 and 10,543 skilled tech workers respectively.

No M4 corridor. Not a mention.

 

 

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  • 4 weeks later...

Very odd listing: 

https://www.rightmove.co.uk/property-for-sale/property-65140953.html

Quote

3 bedroom terraced house for sale
Norwood Road, READING
Guide Price*
£180,000

SUMMARY
AUCTION SALE 07 October 2019 - For more information and legal documents visit our website

DESCRIPTION
Freehold two floor mid terrace house
Investment

The property is let on an assured shorthold tenancy agreement for a term of 12 months from September 2019 at a rent of £900.00 per calendar month

Rent reserved: £10,800

Why would you enter 12m tenancy and at the same time go for an auction? 

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