New tenant for largest office block in Reading

Posted on by John Cronin

A second tenant has agreed to lease floor space in the largest office building in Reading.

It has been announced that software company Pegasystems has signed a 10 year lease for 22,590 sq ft of floor space on the third floor of One Reading Central, the largest office building in Reading. The company has agreed to pay a rent of £30/ sq ft and will occupy the offices from April. The other tenant occupying the building is Yell, the telephone directories business who entered into a pre-let agreement and subsequently signed a 20 year lease.

one reading centralOne Reading Central (pictured) is a speculative development that was completed in February, 2010. The 10 storey building offers a total of 218,800 sq ft of floor space with typical floor plates of approximately 22,500 sq ft. Floors 4 – 10 are let to Yell who relocated to the building from 4 smaller offices in October, 2010.

Vacant floor space totalling 41,560 sq ft remains available on the first and second floors of the building. The offices are Grade A rated and the building has a BREEAM rating of ‘Excellent’.

Dan Ryan, VP Real Estate and Facilities at Pegasystems, commented: “We considered a number of options in the Thames Valley market and One Reading Central offered us good design flexibility due to its large floor plates.”

One Reading Central is a £90m joint venture between Kier Property and Invista Real Estate and is the first of a proposed development of 3 office buildings that will offer in excess of 670,000 sq ft of floor space.

Marketing agents for the development include DTZ and Hanover Green.

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