9 July 2015 (London and Hereford) – Boultbee Brooks Real Estate (BBRE), the UK-based property investor and developer, is pleased to announce the acquisition of Venture House, a prominent office building located opposite Reading mainline railway station.
Venture House, 37- 43 Blagrave Street, Reading,RG1 1PZ, was constructed in the early 1980s behind an attractive retained façade and now provides office accommodation over six floors. The building totals 20,640 sq ft NIA. The property is partly vacant and will be refurbished to provide modern Grade A office suites of between 2,700 sq ft to 3,600 sq ft.
The commercial property, situated on the corner of Blagrave Street and Forbury Road, is exceptionally well positioned. Opposite Reading Railway Station, Apex Plaza and R+, the property is located within the main office core that is set to improve further as the prime office area around the railway station is strengthened by the completion of a number office developments and the arrival of CrossRail.
The purchase of Venture House is BBRE’s second acquisition in Reading since 2014 and demonstrates its confidence in the strength of this market for property investment.
Reading is considered to be the capital and the commercial centre of the Thames Valley region, one of the economic powerhouses of the British economy. With a highly skilled labour pool to draw on, Reading has attracted a number of world leading companies in the fields of finance, IT and global communications, as well as a high concentration of FTSE100. The area boasts the UK’s highest employment rate of 78%.
Aurum Real Estate and Lambert Smith Hampton acted on behalf of Boultbee Brooks Real Estate.
BBRE managing director, Clive Boultbee-Brooks said: “Reading is the principal commercial centre in the Thames Valley and the largest office market in the M4 corridor. The town’s excellent occupier fundamentals, most notably the newly improved transport infrastructure at Reading station, extension of CrossRail , links to Heathrow airport and lower occupational costs (in comparison to London) means it is able to attract world leading occupiers.”
For more information contact:
Boultbee-Brooks Real Estate
+44(0) 20 73498454
+44(0) 207 396 5324