A fillip for the Thames Valley market was provided this week with ING Direct launching a possible 90,000 sq ft requirement in the area.
The bank has instructed Cushman & Wakefield to review its options ahead of a 2014 lease expiry at its headquarters in Reading, Berkshire.
ING Direct occupies 65,000 sq ft in the Royal London Asset Management-owned block on Thames Valley Park Drive.
Charles Dady, head of UK office agency at C&W, said the bank was looking for a new HQ building of as much as 90,000 sq ft in the area, as well as examining the viability of staying at its current building.
He said: “ING Direct has been located in the same building since it launched in the UK in 2003 and is considering options in the surrounding area ahead of the lease expiring in 2014.”
The potential requirement follows a number of new searches in the South East in recent weeks. Active requirements include an 80,000 sq ft headquarters hunt by BP Global through Jones Lang LaSalle, a similar- sized head office requirement from Chinese telecoms giant Huawei as well as a 60,000 sq ft-70,000 sq ft search by mobile phone operator Nokia through CB Richard Ellis.
According to the latest figures from Lambert Smith Hampton, demand for Thames Valley offices increased by 120% in the first six months of 2011.
joanna.bourke@estatesgazette.com
