Reading: inside the UK's fastest growing economy

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A short commute from London and a thriving economy in its own right, Reading is becoming an ever more popular alternative to the British capital. Heavy investment in business parks, housing, a new airport-style Crossrail station and more developments in the pipeline such as an international convention center are making Reading one of the most attractive places to live and invest in the United Kingdom over the next decade.

In the heart of the UK's transport network, Reading offers convenient access to London and other major cities by road, rail and river, soon to be enhanced further when the high-speed Crossrail Elizabeth Line arrives at Reading station in December 2019. Just 40 minutes from Heathrow Airport, and home to one of the most multicultural populations in the UK, Reading is a perfect fit for global businesses, entrepreneurs and students from all over the world.

Named the UK's fastest growing location for economic growth by Ernst & Young, Reading also offers excellent opportunities for commercial and residential investment. Property values are set to rise sharply over the next five years as major developments are completed, with Jones Lang LaSalle (JLL) forecasting 11.4 percent cumulative house price growth by 2023 – comparable to London, but with lower barriers to entry.

Top tech cluster

Once one of Britain's major industrial towns, Reading is today a hub of creative and digital industry with a diversified economy and highly-skilled workforce. Major corporations including tech giants Microsoft, Cisco and Huawei have headquarters in Reading, while the new business district Forbury Place has attracted more big names like HSBC and PwC. Co-working spaces in the central business district and business parks also support a thriving startup culture.

The new £900 million Crossrail station has brought further investment to central Reading, including over two million square feet of new office space, residential developments and new retail and lifestyle offerings. The proposed Western Rail Link shortening journey times to Heathrow Airport will make international connections even more convenient, further establishing Reading as an ideal UK base for any global business.

Festival city

For live music lovers, the name Reading is synonymous with the world's longest-running music festival. The Reading Festival has drawn the world's biggest bands and artists to the town every August since 1955 and it's joined by many more cultural events around the calendar, taking place at live music venues, theatres, comedy clubs and even in the street.

Reading's pedestrian center is easy to get around, the main shops, restaurants and attractions being within a few minutes' walk of the train station. Oracle and Broad Street shopping malls are at opposite ends of the main high street, offering a mix of global brands and independent retailers. More boutiques can be found at Harris Arcade and Smelly Alley, while Market Place hosts a twice-weekly street food market.

Local history is proudly on display at various museums and heritage sites in the area, such as the 12th century Reading Abbey, while some industrial buildings along the River Thames have been given new life as stylish riverside pubs and cafes.

World-class education

For families with children and university students, Reading also has competitive education options to rival London. The University of Reading is in the top 200 of QS World University Rankings, with nearly 80 percent of its research rated excellent or world-leading. More than 17,000 students from over 150 countries are enrolled at the university and around 20 percent stay in Reading after graduation, providing a steady supply of talented workers and researchers to support the local economy. Local schools also boast some of the best A-level results in the UK.

Those choosing to relocate to Reading or to invest in the vibrant town have a wide choice of accommodation options to choose from, from modern apartment blocks in the heart of the business district and close to the new Crossrail station to traditional homes in leafy suburbs and surrounding villages. With the English countryside and River Thames on the doorstep, Reading offers the perks of city living without the negatives.

For more information about residential properties in Reading and the UK, click here or contact JLL International Residential at +852 3759 0909 or [email protected].