Following a difficult year for the Thames Valley market, the key points arising from the bulletin include the following:

• Demand for office space in the Thames Valley during 2009 was its lowest level since the early 1990s, with take-up reaching just 883,000ft², 44% down on the 5-year average of 1.6 million ft²
• The vacancy rate at year-end stood at 12.6%, an increase of 16.7% over the course of the year.
• By mid 2010 the development pipeline will be fully switched off with no speculative space under construction in the Thames Valley.
• The disconnect between the subdued occupier and and buoyant investment markets remains.  Over the past 6 months prime yields have moved in circa 100 basis points and stood at 6.5% at end 2009.

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