M&G Speeds Ahead With Rapid7 Reading Office Letting

May 2022 - Costar

Cybersecurity Group Expanding Into More Than 22,000 Square Feet in Thames Valley Fillip.

M&G Real Estate has secured global cybersecurity company Rapid7 on a 10-year lease for 22,616 square feet at 2 Forbury Place in Reading.

Relocating from premises in Theale, Rapid7 will occupy the first floor of the Grade A 192,000-square-foot building which is located in the town’s central business district. The 14,116-square-foot expansion has been driven by a desire for improved connectivity, infrastructure and amenities, M&G said.

The wider Forbury Place estate comprises 600,000 square feet of offices over three buildings, with other tenants including management consultants KPMG and PwC, electricity company SSE and law firm Osborne Clarke.

Completed by M&G Real Estate alongside development partner Bell Hammer in 2017, 2 Forbury Place is one of Reading’s largest office developments and is preparing for the arrival of Crossrail to Reading mainline station. It has EPC A and BREEAM Excellent ratings and a WiredScore Platinum accreditation.

Aaron Pope, director, asset management at M&G Real Estate, said in a statement: “This significant display of confidence in Forbury Place and the Reading town centre office market more widely, highlights the continued demand for prime workspaces in the business districts of key urban centres.

“2 Forbury Place is a prime example of why M&G Real Estate continues to develop, reposition and invest in high quality office assets across the UK and Europe’s major towns and cities, to command premium rents from UK and international occupiers which have sustainability and wellbeing at their core.”

Michael Keimig, senior real estate manager for Rapid7, added: “We selected the space because of its great location as well as the many amenities available to our employees, and we are confident Forbury Place will provide the next evolution in our workplace and a great home for our UK-based team.”

CBRE and Campbell Gordon advise M&G. Savills acted as adviser to Rapid7 on this letting.