Reading: Business park Winnersh Triangle lifts off with jobs boost

Winnersh Triangle near Reading was re-launched earlier this week under new owners, funds managed by Oaktree Capital Management, L.P. (Oaktree) and PATRIZIA UK. The launch event heralded significant job growth potential to the area with planning approval granted for 70,000 sq ft of new employment space at the business park.

Additional investment was also announced for further development, enabling the construction of 60,000 sq ft of offices.

The news confirms Winnersh Triangle as one of the premier commercial locations in the Thames Valley region. The 85-acre mixed-use business park already has more than 60 diverse and high-profile companies with 3,000 employees onsite.

Now approval has been secured from Wokingham Borough Council for 70,000 sq ft premises for aerospace and defence organisation Rockwell Collins, comprising 40,000 sq ft for high-specification workshop, research and development space, plus 30,000 sq ft of offices on Plot 700.

The extra space will add to the 1.3 million sq ft of built stock already at Winnersh Triangle, which was acquired from SEGRO last year in a joint venture between Oaktree and PATRIZIA.

The launch of Winnersh Triangle was also marked by a commitment to commence the phased development of Plots 1030 and 1040, which will ultimately provide 170,000 sq ft of new grade A office space.

Plot 1030 has planning permission for 60,000 sq ft of offices over four storeys and an extension of the existing podium/car park underneath which will entail an extensive landscaped community area close to the existing bistro, hotel, gym, spa and restaurant. The speculative development of this building is scheduled to start before the end of 2014.

The adjacent Plot 1040 has planning permission for 110,000 sq ft of office space over five storeys and is to be marketed as a pre-let opportunity. The completion of the two office buildings will create a band of modern office development at the western end of the park, following on from the earlier development of buildings 1010 and 1020 in 2010.

Dan Williams, PATRIZIA’s head of development, said: “We’ve had a lot of good news come all at once: planning permission supporting the creation of new jobs and fresh investment for more office development, both coinciding with the park’s official launch.

“It all serves to underscore Winnersh Triangle’s presence as one of the premier commercial locations in the Thames Valley region – bringing new jobs, and attracting investment and businesses to the area.”

Will Lawrie, PATRIZIA’s asset manager for Winnersh Triangle, said: “As the economy continues to strengthen, businesses are looking to Winnersh Triangle for its range of mixed-use premises, excellent connections and top-quality facilities.”

Additional arrivals at Winnersh Triangle since the change of ownership include high-quality digital broadcast and film product manufacturer Evertz UK, and AIT, a leading data centre and secure networking technical services specialist.

The new owners have also invested in fresh branding at Winnersh Triangle which will be rolled out across the business park’s signage, website and social media.