With the exception of Gazeley's 255,000 sq.ft G. Park Thames Valley scheme near Thatcham, which has remained empty for several years, little large-scale industrial and distibution development has taken place in Berkshire.

The area competes with not only Heathrow and Swindon but also locations on the A34 such as Didcot, Charles Binks, head of industrial at Knight Frank, says:  "The A34 is much cheaper and, for many firms, a much better location because you can go east, west, north and south."

Also on the A34, the Planning inspectorate has given Prologis permission to develop 670,000 sq.ft of space at Greenham Common, near Newbury.  The firm says it is "reviewing the option for progressing the development", although it must start work within the next three years.

According to Duncan Campbell, a partner at Reading agent Campbell Gordon: "There is still activity sub-5,000 sq. ft, a little bit more up to 15,000 sq.ft, but anything above that is very quiet".

One bright spark has come from the demand for data centres.  SEGRO let 115,000 sq.ft to Equinix at Slough Trading Estate, while Gazeley sold 14 acres to Nationwide at its G.Park Newbury scheme.