A study commissioned by Thames Valley Economics and undertaken by facilities management company WS Atkins has found that matching the location needs of businesses to the supply of suitable developments in the region is difficult and could get worse.
Accessible transport links have made areas within the Thames Valley highly sought after, says Iestyn John at Oxford-based Atkins. "There is an increased demand from technology companies," he explains. "However, a shortage in the provision of suitable premises, particularly for small companies, is restricting the creation and expansion of hi-tech business."
According to the report, although the problem is not 'desperate', the situation 'could be better. And things could get worse with greenbelt schemes being introduced.
Conditions in the City of London are also causing problems.
The Minister for London, Nick Raynsford, plans to introduce "protected strategic schemes". Many planning experts are concerned this will delay development. Keith Harn, of chartered surveyors CB Hillier Parker, says "Any further constraint on development is untimely".
Although the City Corporation has identified several sites in the Square Mile suitable for development, and work on the two 700ft skyscrapers in Canary Wharf still continues, there are concerns that the pace of development is too slow.
Increasing numbers of companies looking for ultra-modern offices - and contributing to London's image of being on the cutting edge of international commerce - may overtake the availability of properties suited to their needs.
