Private property investment company Boultbee Brooks has purchased Reading’s 70,000 sq ft office building, Kings House.
Boultbee Brooks has acquired Kings House from LPA Receivers c/o Cordatus, and is planning a comprehensive refurbishment of the building to create an 84,000 sq. ft. Grade A office building, which will be available for occupation in Q1 2015.
The newly refurbished Grade A building will benefit from 12,000 sq. ft. unbroken floor plates as the central core will be relocated as part of the redevelopment. The building will also benefit from an unrivalled 1:598 sq. ft. parking ratio, providing 140 car parking spaces.
The building is located on Kings Road, which is close to the Oracle shopping centre and Reading train station. Other nearby Kings Road developments include Crest Nicholson redeveloping Kennet House into a high-specification apartment building, providing 103 apartments and penthouses. House of Fisher, a provider of executive serviced apartments, has also opened an apart-hotel at the neighboring 100 Kings Road. The upper floors will become an apart-hotel comprising 55 furnished, executive suites. Buzz Gym, a state-of-the-art health and fitness facility will occupy the ground and first floors.
Tom Fletcher, Director in LSH’s Reading office, says: “Kings House is perfectly placed to satisfy the increasing occupier demand in Reading and the Thames Valley. It will come to the market at a time when Grade A supply will be at its most constrained. Businesses who employ creative and highly skilled staff want to offer distinctive working environments with quality amenity and transport links to help retain, recruit and satisfy employees work and life needs. Reading has recently been judged the top micro European city of the future and is only 25 minutes from central London on the train.”
Clive Boultbee Brooks, says: “We believe that this development offers an exciting alternative to the competition. When completed in Q1 2015, it will provide an exclusive 84,000 sq. ft. self contained office building with several USPs, including unbroken floor plates of 12,000 sq. ft.to help create modern agile work space, and four times as many parking spaces as the average available office building in Reading town centre.”
Lambert Smith Hampton is the letting advisor to Boultbee Brooks. Savills and RARE acted for the LPA Receiver.
Aurum Real Estate acted for Boultbee Brooks Real Estate.
For more information contact:
Boultbee Brooks Real Estate
+44(0) 20 73498454
+44(0) 20 7404 5959