Reading: Virgin Media to move into Green Park as office development ramps up

Telecoms giant Virgin Media will move its UK head office to Reading's Green Park next year. Virgin Media will take all 120,000 sq ft at 500 Brook Drive, joining other international occupiers who have moved to Green Park including Bayer, PepsiCo, Thales and Huawei.

Meanwhile, Singapore's Mapletree Investments is to press on with the next phase of speculative office development at Green Park.
Construction of 400 and 450 Longwater Avenue will start in February.

Totalling 228,000 sq ft, the project provides column-free office space, to be accredited by the WELL Building Institute.

Ready for occupation in August 2020, each building will provide 114,000 sq ft net of Grade A offices on ground and four upper floors within what Mapletree describes as 'biodiverse, landscaped grounds with decking overlooking Longwater Lake'.

The new Green Park Railway Station is scheduled for completion in Autumn 2019, providing a direct link to Reading mainline station and Crossrail services.

Sixty businesses are now based at the 195-acre business park employing over 7,000 people.

Rory Carson, vice-president of asset management, UK, for Mapletree at Green Park, said: “These are very exciting times for Green Park, which will enter its next phase of growth to meet the demand of tenants. These stunning new offices will attract the most dynamic talents and businesses, which want to work in a great environment. Our investment to start 400 and 500 Longwater Avenue shows our commitment both to the park and Reading as the epicentre of the Thames Valley.”

Singaporean REIT Mapletree completed its 100% acquisition of Green Park from Oxford Properties for around £563 million in May 2016.

Cushman & Wakefield and Campbell Gordon act for Mapletree; CBRE advised Virgin Media.

Source: CoStar