A report on office space for the Financial Times (FT) predicts 2009 as the Thames Valley's worst for years, but Reading agents remain upbeat.

The report said rents had reduced and the downturn was evident in Green Park's empty buildings.

But Duncan Campbell, partner of property agency Campbell Gordon, said rents across Reading were holding up well, despite the fact take up had dropped dramatically.

Research showed space take up over 5,000 sq. ft peaked at 770,000 sq.ft in 2007, dropping to 390,000 sq.ft last year while this year, only 52,000 sq.ft has been taken so far.

But Mr Campbell reported a 36% increase in viewings this year and said enquiries had risen 'markedly'.  He said "In the immediate term it's uncertain but there is good cause for optimism over one to three years."

Rory Carson, from Green Park owners PRUPIM, said: "If you compare the Thames Valley's percentage decline in rents and increase in vacancy rates with the City of London, Thames Valley is actually incredibly resilient."

PRUPIM, owners of Apex Plaza, said enquiries from April to June had risen 50% on last year, helped by expanding businesses and improving IT firms.

PRUPIM's Nick Moore said: "Also significant was the geographical spread of enquiries - Scandinavian and Eastern European companies were apparent, and American enquiries are re-emerging".

Vail Williams associate, David Thomas, said it was necessary to look beneath the FT report's surface.

He said low-grade space would previously have been turned into flats but now demand for homes was met, there was "nothing to get rid of the dross".

He said Yell's move to One Reading Central next year was a classic example, leaving thousands of square feet behind.

"Yell will use only six of its seven floors at the building, planning to sublet one floor because restructuring has given bosses m