Staines Prime Office Rents – headline to net effective analysis
The following provides a general overview of headline rents and net effective levels in broad terms.
For ease of reference lease lengths, break clauses and other terms are omitted.
The information may be useful to those considering lease renewals, rent reviews, property acquisition and marketing.
Christopher Thomas have a more detailed analysis of each transaction and act for many landlords and occupiers in the various aspects described.
2021 Staines Prime Causeway
| Property | Size (sq.ft) | Headline Rent | Net Effective | % allowance | Tenant |
| 3 Lotus Park | 8,202 | £35.00 | £29.75 | 15 | DHL |
| Watermans | 4,010 | £34.00 | £28.36 | 17 | Noble Foods |
| 1 Lotus Park | 7,352 | £34.00 | £28.33 | 17 | Nat West |
| 3 Lotus Park | 5,770 | £32.00 | £24.75 | 23 | Jupiter |
| 3 Lotus Park | 10,678 | £32.00 | £24.00 | 25 | RICOH |
2021 Town Centre
| Property | Size (sq.ft) | Headline Rent | Net Effective | % allowance | Tenant |
| Mallard Court | 3,573 | £31.00 | £27.38 | 12 | Del Monte |
| One London Road | 7,787 | £28.00 | £22.40 | 20 | TARGUS |
2022 Town Centre
| Property | Size (sq.ft) | Headline Rent | Net Effective | % allowance | Tenant |
| Church House | 5,184 sq.ft. | £25.00 | £25.00 | 0 | Yo Space * |
| Charta House | 2,629 | £28.00 | £22.40 | 20 | Mathisen McCara |
- Yo Space partly new letting into expansion space, part lease re-gear. Church House is the first property photographed above. The second Elizabeth House was sold by us last month for clients at £3.5 million.
Key Observations
1.Average 16.5% end allowance on terms against quoting.
2.Some space is part fitted, showing lower discounted terms as less relocation cap ex cost.
3.Town centre lower quoting rents, less parking although closer to the station.
4.Significant space take up during 2021 as transitioning pandemic workplace plans became clearer.
5.Headline rents achieved are less important to private owners than institutional funds and investors.
6. Regardless of recent Trussenomics, market demand remains steady.
Christopher Thomas are one of the longest established independent commercial property surveyors and agents in the The Thames Valley in addition to which Christopher is an RICS Registered Expert Witness Surveyor.
We are always pleased to provide detailed advice to existing clients and similarly welcome new clients with the same friendly accurate advice.
Christopher Thomas, Managing Director
AssocRICS and RICS Registered Expert Witness Surveyor
Main feature photograph, the popular Charta House Church Street Staines