Just like all coming-of-age sagas, Berkshire has had its fair share of anti-climaxes. Companies such as Cisco took space in 2000 like there was no tomorrow, but then tomorrow came.

Other hi-tech corporations thought the internet would go from strength to strength, but it didn't. Lately, there has been hope that the third generation technology would provide the second boom. But the hope is floundering.

Berkshire however is holding on to the hi-tech thinking that revolutionised its market, and it is thinking small. While some still wait for bigger requirements such as Johnson & Johnson Medical looking for 70,000sq ft have been accompanied by parties looking for disaster space of between 60,000 sq ft and 80,000 sq ft. But people are just really waiting where the line in sand is drawn by the smaller deals. For the past six months, the deals that nobody noticed in 2000 when the US TMT sector was acquiring huge amounts of space have become the rations in a starving market and encouraging the bigger operators to dip their toes back into the pool.

During 2002/3, transactions between 10,000-25,000 sq ft (929-2,323 sq m) band accounted for 52% of the market share and dominated the take up. This has been accompanied by a slow down in supply. Despite supply increasing by 397, 984 sq ft (36, 974 sq m) in the first quarter of 2003, it is gradually drying up. After threatening to let 300,000 sq ft loose in the market in 2001, MCI World Com only released 70,000sq ft (6, 503 sq m).

Most of the speculative development has now been completed and only Castlemore's Braywick Gate and Frogmore and Morley's Building Three at Vanwell Business Park are still under construction.

There has been a flurry of deals around the 20,000 sq ft (1,858 sq m) and several larger requirements are rumored.

FPD Savills director of regional offices Jeremy bates says:

"The stock market is being driven by US optimism and this is translating into smaller take up. We are a mature sector, whereas In the 1990s we didn't plan ahead. Now companies have to."

Keith Wise partner at Reading-based Campbell Gordon says:

"In the last recession it took time for pricing adjustments to kick in but this time landlords are prepared to respond more quickly. This acceptance is increasing demand."

Out-of town, occupier space on the market continues to fuel hope that some of this space will be taken by the likes of Cisco and Logica. At Arlington Business Park at junction 12 of the M4, local firms have expanded into smaller units, such as Wolseley, which took 10,290 sq ft (956 sq m) of grade B space at £27.25 sq ft (£293 sq m) in April.