Reading: Instant Managed Offices is first occupier at Kennet Place

Published by

TBM Team

Westcore Europe has signed Instant Managed Offices as its first occupier at Kennet Place, Reading, in what it said was largest office letting in Reading in 2017.

Westcore Europe bought Kennet Place in 2016 and working in partnership with Canmoor as development manager undertook a comprehensive refurbishment of the building, which was subsequently launched in July last year.

Instant Managed Offices has taken space on the second, third and fourth floors equating to 42,120 sq ft. The terms are based on flexible five-year leases with the rent at £31.50 per sq ft on premium floors.

Following this letting, the building has two floors remaining offering 25,996 sq ft, and can accommodate occupiers looking for space from 5,900 sq ft upwards.

Andy Nixon, senior surveyor at Knight Frank, said: “Kennet Place was home to the famous biscuit maker Huntley & Palmer and Westcore Europe and Canmoor have managed to provide a fantastic building with all the ingredients that the modern occupier needs.

“This letting emphasises the continued strength of the Reading office market in the Thames Valley, pushing the take-up in 2017 just over 417,000 sq ft.”

Westcore Europe is part of the Westcore Properties group and has been active in Europe for over ten years, with representation in London, Geneva, Berlin, Amsterdam and Vienna.

Knight Frank and Campbell Gordon are joint agents on Kennet Place.

Source: CoStar

TBM Team