9 February 2023
Woking is set to become Surrey’s office hotspot in 2023, according to a regional commercial property specialist.
Charlie Nicholson, Woking-based Partner at property consultancy Vail Williams, believes the town could emerge from the shadow of Guildford this year.
He said: “We could see an office market renaissance in the town due to town centre regeneration by Woking Borough Council and the prevalence of quality office space.
“This, together with attractive rents and transport connectivity, means businesses are likely to be attracted back into this increasingly vibrant town centre.
“As footfall continues to increase in Woking following this regeneration, together with its rental competitiveness, we are likely to see more office occupiers seeking value for money at a time of increasingly tight property purse strings.
“Given that the town has a good range of exciting, quality office space to offer for those occupiers looking to right-size their premises and attract people back into the workplace, 2023 could see Woking ascend to the Surrey office market throne.”
Charlie said Woking Borough Council was leading the charge and had succeeded in creating a vibrant and attractive town centre boasting a compelling retail proposition made up of both independent and high street brands, as well as a unique street food offering.
The much-anticipated retail, residential and leisure destination at Victoria Square opened in March 2022 and has transformed the western quarter of Woking with a range of residential, leisure and retail buildings.
There is also a 47,000 sq ft performing arts facility for Italia Conti Performing Arts Academy which has brought more than 600 students and staff to the town centre.
Woking’s access to London via the rail network, as well as its close proximity to the M3 and M25, not to mention the access it has to talent from the top quality University of Surrey means the town has a lot going for it.
Charlie added: “We’ve seen more and more businesses choose to locate in Woking, to take advantage of the range of amenities and retail provision on offer here, as well as its competitive office rents.
“Companies including IDBS, Verint, BOC, Cignpost Diagnostics and Kent & Co have all acquired offices having relocated into Woking town centre from surrounding office markets.
“Woking town centre has seen much more office activity than out of town business parks and secondary locations, following investment in its office accommodation.
Charlie said a good range of quality office accommodation to meet a variety of occupier needs was available in Woking, many with excellent ESG credentials, amenities and parking.
This includes modern Forge in Church Street, the large Space building in Chertsey Road, flexible Midas House in Goldsworth Road, the council-backed and central Dukes Court and Export House in Victoria Square
Vail Williams’ full-service property advice includes commercial agency, investment and development advice, building consultancy, property valuation, planning, lease advisory, property asset management, business rates and occupier consultancy.
