Business News | One Reading Central

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January 2011

Second tenant secured for Reading's largest office building

A second tenant has been secured for Reading’s largest ever office building, One Reading Central, marking the town’s largest office deal of 2010.

International software business, Pegasystems, will occupy 22,590 sq ft on the third floor of One Reading Central, joining international directories business, Yell, which moved to the building in 2010. A rent of £30 per sq ft has been agreed on a ten year lease.

Pegasystems, represented by the Reading office of Lambert Smith Hampton (LSH), is the market leader in business process management (BPM) and a leading provider of customer relationship management (CRM) solutions. It is expanding with its existing base at Apex Plaza in the town centre, and its recent acquisition of Chordiant is one reason behind this expansion. The company will occupy One Reading Central by April 2011.

Kier Property and Invista Real Estate Investment Management, represented by LSH, DTZ and Hanover Green, are behind the 218,800 sq ft, ten storey building on Forbury Road in Reading town centre. Gillian Scarth, Senior Development Manager at Kier, added: “Throughout all stages of its development, One Reading Central has acknowledged the top requirements for corporate occupiers – proximity to a mainline rail station and large floor plates both being high on this list. With the building having completed less than a year ago, the arrival of a second blue chip tenant is positive news for the town, and the wider Thames Valley office market. Only two floors remain available, totalling 41,560 sq ft on the first and second floors.”

Chris Reeve, Director at LSH, added: “Within Pegasystems’ international operations, One Reading Central will be a showcase of its modern working practices and collaborative office space. The company considered options throughout the Thames Valley and its decision to stay and expand within Reading is a vote of confidence for the town.”

LSH’s Thames Valley team has also been instructed to project manage Pegasystems’ fit-out procurement.

 

 

February 2010

Kier Property and Invista Real Estate Investment Management have announced Practical Completion of Reading’s largest ever office building, One Reading Central.

The 218,800 sq ft, ten storey building on Forbury Road has been under construction since December 2007 and is scaled by a 38 metre (125 feet) tall public artwork, visible on approach by train. Now complete, it is the town’s only speculative new-build office development to have achieved a BREEAM (Building Research Establishment Environmental Assessment Method) rating of ‘Excellent’.

One Reading Central was unveiled to 130 Thames Valley office agents at a lunch reception at the building on Thursday 11 February.

Leigh Thomas, Associate Director at Kier Property, commented: “The size and scale of One Reading Central are more commonly found in the City, so its completion cements Reading’s position as a key business hub outside of the Capital. Its environmental credentials also differentiate the building, attracting occupiers where the ‘green agenda’ plays an important role in deciding to take new office space.”

Fit-out contractors will now begin work on implementing designs for international directories business, Yell, which will be the building’s first tenant later this year. Yell will occupy seven storeys, and has been working closely with its staff over the last 12 months to design the ultimate corporate workplace.

For further local media coverage on the completion of One Reading Central – the ultimate workplace:

 

One Reading Central, 23 Forbury Road, Reading, Berkshire RG1 3JH