Reading: McKay completes 9 Greyfriars Road with BREEAM ‘Outstanding’ award

Real estate investment trust McKay Securities plc has completed the comprehensive refurbishment of 9 Greyfriars Road, Reading, which has secured the only BREEAM Outstanding rating ever awarded outside London.

BREEAM is the world’s leading sustainability assessment method.

This achievement, combined with an EPC A rating, makes 9 Greyfriars Road (38,417 sq ft) the most sustainable office building available in the South East market. Occupiers will benefit from this energy efficiency with low operational costs at a competitive quoting rent of £34.50psf.

9 Greyfriars Road comprises a striking headquarters office building laid out over four floors. It is located in the heart of Reading town centre, just three minutes’ walk from Reading railway station – which has recently undergone an £800 million redevelopment.

The building is one of three significant office schemes funded from the proceeds of McKay’s capital raising in 2014, contributing to an 87% increase in the company’s portfolio ERV since then. Potential income from the three schemes comprises around half of McKay’s significant 49% portfolio reversion of £10.34m pa.

Simon Perkins, chief executive of McKay, commented: “This refurbishment project reflects our commitment to providing high-quality, well-located business space for occupiers seeking a flexible working environment at a competitive cost. The building offers potential tenants a high specification together with the benefit of low running costs. It is the only office building available in the South East with an EPC A rating and an Outstanding BREEAM assessment.

“Since our capital raising in 2014, we have successfully accelerated a number of schemes increasing our portfolio ERV by 87% to £31.44m pa.”

Strutt & Parker and Campbell Gordon are acting as letting agents on 9 Greyfriars Road.