Major new speculative office scheme for Green Park

December 2018 - Thames Tap

Work will start in the new year on 228,000 sq ft of speculative office space at Green Park.

Two new buildings of 114,000 sq ft each at 400 and 450 Longwater Avenue will have five storeys of Grade A space, overlooking Longwater Lake.

The development is the first substantial new scheme to be launched at Green Park since it opened almost 20 years ago and the first since a new masterplan for the park’s growth was agreed by Reading Borough Council in April 2016.  Work will start in February with completion due in August 2020.

Duncan Campbell, director at Campbell Gordon which, along with Cushman & Wakefield, acts for Green Park, said: “These new buildings will be exceptional.  They will deliver column free space and with a fantastic floor to ceiling height of three metres.  There is nothing else of this size, quality and type being built in the south east outside of London.  Green Park continues to be a magnet for businesses to relocate to from all over the region and having these brand new buildings will allow us to continue to grow the park, the local economy and create more jobs for people in our region.”

The announcement is one of three important milestones at Green Park.

As reported by Thames Tap, Virgin Media, advised by CBRE, has signed a lease for 120,000 sq ft at 500 Brook Drive, currently used by pharmaceutical company IQVIA.

The drug company is believed to be planning a move to Two Forbury Place.

Work on the long-awaited Green Park station is due to complete in summer 2019.

Rory Carson, vice-president of asset management, UK, for Green Park owner Mapletree, told Costar News: “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 450 Longwater Avenue shows our commitment both to the park and Reading as the epicentre of the Thames Valley.”