Reading: Six lettings signed at Winnersh Triangle

Frasers Property UK has secured six office transactions totalling 140,000 sq ft at Winnersh Triangle in Reading.

The six companies include multi-national businesses Jacobs UK, Hewlett-Packard Enterprise and Hollister.

The lettings will create £3.77 million of recurring annual income with an average lease length of 10.4 years.

The office transactions include a new lease to Jacobs UK on 76,000 sq ft at Building 1180. The commitment by the established occupier follows Frasers Property UK’s decision to refurbish the common parts and 56,000 sq ft on the upper two floors.

Frasers Property UK is investing in the estate, including a refurbishment of 62,000 sq ft at Building 210 which is due to complete in September 2020. Here, US software giant Hewlett Packard Enterprise has entered an agreement to lease 31,000 sq ft.

In addition, Frasers Property UK’s refurbishment at Building 1010 has also seen 10,700 sq ft leased to US healthcare company Hollister.

Frasers Property UK is now commencing with the refurbishment of another 27,000 sq ft within the building. Meanwhile at Building 250, FLB Accountants has doubled its occupancy by leasing 6,400 sq ft and IFIS Publishing has leased 2,500 sq ft in the 100 Series.

In the science and technology zone, Pip Studios has leased 13,000 sq ft. The company will use the space for post-production media services, translating film and TV productions into multiple languages.

Frasers Property UK, a business unit of Frasers Property Limited, which develops, owns and manages residential and commercial property in the UK, has a portfolio of business parks across the UK.

CEO of Frasers Property UK, Ilaria del Beato, said: “We are delighted to announce these latest transactions at Winnersh Triangle despite the uncertainty caused by COVID-19. It is an encouraging sign for the UK office market to see businesses continuing as usual and looking towards the future during this difficult period.

“We are attracting the biggest companies to our business parks by providing high quality workspaces and amenities for innovative businesses to grow and attract the best available talent.

"These latest arrivals will further add to our vibrant occupier mix. We are committed to investing in business communities such as those at Winnersh Triangle and these latest upgrades and enhancements have been made as part of a £6 million masterplan, which will help to create an environment where people and enterprise can flourish. We are improving landscaping, amenity provision and new buildings, including a sports hub with fitness studio and multi-purpose outdoor court. A network of footpaths will be installed, enhancing the pedestrian experience, giving people on Winnersh Triangle the opportunities to further enjoy where they work.

“We are also working closely with our onsite management partners to ensure Winnersh Triangle and our portfolio of business parks are adapting to the ever-changing safety requirements brought on by the COVID-19 pandemic to allow staff to return safely to work.”

Frasers Property UK was advised by BNPP, Vail Williams and JLL, whilst Cushman & Wakefield acted for Jacobs; CBRE for HPE; and Colliers for Hollister.

Source: CoStar