In 2015, it was hailed as the number one town for business creation, beating London to the top spot. Since then, and has become home to large corporates including Centrica, Bupa and Samsung.
Indeed, in 2021 alone, in excess of 50,000 sq ft of office space has been let in the town since January, compared with just 7,000 sq ft in 2020 at the height of the pandemic. COVID-19, together with a multi-million pound town centre regeneration programme, have catalysed a complete transformation for the town.
Of course, the pandemic initially took its toll as it did elsewhere in the UK, with high streets the primary victim. The net result was the worst year ever for Staines, mirroring 2019 in which there were just two office lettings totalling less than 10,000 sq ft.
However, as businesses have begun to think about their future workplace strategies and return to the office, we have seen a transformation in Staines’ commercial property fortunes.
There has been a flurry of office deals over the last six months, split between Spelthorne and Runneymede, the two Boroughs over which the Staines office market straddles. These range from small start-up suites at 2,500 sq ft through to more expansive 12,000 sq ft suites for large occupiers in the tech and pharmaceuticals sectors.
Lotus Park Staines has seen over 13,000 sq ft of Grade A office space let with Juniper Networks UK and Kinetico UK both taking 5,770 st ft and 7,408 s ft respectively, in deals secured by our office agency team on behalf of Legal & General Investment Management.
Another large transaction includes the letting of 10,865 sq ft to DWP at 100 Church Street in the town.
Meanwhile, Waterfront, a stunning new office development on the banks of the River Thames, which we are marketing on behalf of London Malborough, has continued to be sought-after by a variety of occupiers.
Packaging and creative solutions provider, BP Media, and open-source solutions provider, Suse, each acquired 6,500 sq ft of office space achieving the highest rent in Staines, and the last 4,500 sq ft unit is currently under offer to complete in October 2021.
As you would expect from both Runnymede and Spelthorne Borough Councils, both have been active in the investment market, purchasing office opportunities within their own boroughs.
But what has changed and why is Staines experiencing such a resurgence?
Why Staines?
Situated on the banks of the River Thames, the town has undergone significant regeneration and rejuvenation, making it a destination of choice for residents, businesses and investors alike.
With its shuttlebuses, car parking facilities and glorious greenspaces at Colne Valley Park, Staines Moor and Reservoirs and with the lure of walks along the River Thames, not to mention the town’s retail offer, Staines has also become ‘bustling shopping hub in a picturesque and convenient location’ from which to live and work.
As a result, several residential development schemes are underway here – Eden Grove and London Square to name but two – as it fast becomes the new commuter hot spot, where house prices are rising as a result – 8% in the last year alone.
For businesses, its location, surrounded by the M3 and M25, makes access to national transport networks incredibly convenient, with Heathrow Airport on its northern fringes and Reading and central London within regular striking distance by train in under an hour. As a result, we’ve seen an exodus of businesses out of other local towns in favour of the up-and-coming Staines, to benefit from the better amenities on offer here.