Dutch geosciences company Fugro Group is set to bring some rare good news to the Thames Valley market with plans to develop its own headquarters building in the area.

Fugro, the world's largest integrated geotechnical, survey and Geosciences company, this week brought a plot of land with outline permission for 130,000 sq ft of offices and light industrial space in Wallingford, north of Reading. Kennet Properties, a subsidiary of Thames Water, sold the 6.75 acre (2.75ha) former waterworks on Hithercroft Road for £3.05m, or approximately £450,000 per acre.

Keith Wise from Campbell Gordon which advised Kennett Properties, said:

"Despite the slowdown in the commercial property market within the Thames Valley, the need for sites which can accommodate mixed-use activities continues, particularly from owner-occupiers".

Fugro plans to build a 50,000 sq ft office scheme on the site for its own occupation. Aitchison Raffety acted for Fugro.