Hayes in West London may not be the most obvious office location, but the town has a rich history of technology and innovation that dates back as far as the 1930s. Fast forward to today and new developments, such as U+I’s The Old Vinyl Factory, are harnessing this spirit and helping to restore the town to its former glory.
Home to a number of large corporates including Rackspace, Pladis Global and Fujitsu, Hayes is already an established corporate location, but until recently has lacked the quality office stock to attract further large occupiers. However, The Old Vinyl Factory’s redevelopment has not only created new state-of-the-art office space but a new sense of place in the town.
Formerly a gramophone factory and then the home of EMI Records, the site has successfully attracted businesses from a number of different sectors, Sonos, Kingston Smith and Go Daddy to name but a few. Some companies such as Aspect Software, the call centre technology firm, and Analog Devices have even relocated from elsewhere in the region to take advantage of the The Old Vinyl Factory.
Undoubtedly a focal point for the town, the scheme has also spurred significant residential development. In 2018 residential developer HUB completed the Material Store, a block of 189 flats and 26 triplex apartments that overlooks The Old Vinyl Factory. The addition of a new café, climbing gym, cinema and convenience store will breathe further life into the area, fostering a real sense of community.
Not far away Barratt London will be building over 1,300 homes on the site of the former Nestle Factory, to be called Hayes Village. The development will include a new public park, running track, play areas and direct access to the canal.
This desire to create a ‘place to go’ has been emphasised by the recent £5 million cash injection from the Greater London Development Fund. The money has been spent on regenerating the town centre and revamping the train station, which connects Hayes to London Paddington in 20 minutes.
With this in mind, Grade A office rents remain comparably low in Hayes at £33.50 per sq ft. Just 15 minutes away in Slough, rents increase to £36 per sq ft, while in Ealing this jumps again to as much as £42.50 per sq ft. This is despite there being little difference in the time it takes to get into central London via public transport.
What’s more, Crossrail is set to arrive into Hayes & Harlington station which is already acting as an incentive to occupiers looking for a cheaper London alternative.
The success of The Old Vinyl Factory and the sense of place it has created has in turn sparked real confidence in the local market. There are now a number of refurbishments underway hoping to benefit from increased future demand. What’s clear is that Hayes no longer has to face the music as the former gramophone factory has helped to bring the town back to life.
Further information
Read more: Market in Minutes: Greater London & South East Offices