July 2019 - Costar
Development will increase offices at campus to 1.6m sq ft
Singapore’s Mapletree Investments has begun the speculative development of 234,000 sq ft of offices in two buildings at its Green Park business campus in Reading, CoStar News can reveal.
The next development phase begins as Mapletree marks the 20th year since Green Park completed.
Two 116,994 sq ft Grade A office buildings are being speculatively built at the 195-acre business park which comprises 1.4m sq ft of premium offices across 19 buildings.
It houses 7,000 workers and over 60 businesses from local start-ups to global corporations.
Ready for occupation in Autumn 2020, 400 & 450 Longwater Avenue will provide a total of 233,988 sq ft of grade A, column free space over five floors, surrounded by bio-diverse landscaped grounds overlooking Longwater Lake.
The building designs have been accredited by the WELL Building Institute. In addition, they are expected to achieve a BREEAM Excellent certification.
The Green Park Railway Station is scheduled for completion in 2020 and provide a direct link to Reading Mainline Station and Crossrail services.
Rory Carson, Mapletree’s Vice President of Asset Management in the UK, said: “Our commitment to Green Park and Reading as the business epicentre of the Thames Valley is the driving force behind this next phase of the park’s development. Once the two new offices are built, the total amount of office space will increase to approximately 1.6m sq ft, providing capacity for a further 2,500 people to join the Green Park business community.
“Our uncompromising dedication to enduring, beautifully designed buildings and a steadfast commitment to the needs of our occupiers ensures we can confidently look forward to the future of Green Park.”
Singaporean REIT Mapletree completed its 100% acquisition of Green Park from Oxford Properties for around £563m in May 2016.
Cushman & Wakefield and Campbell Gordon are agents acting for Mapletree’s Green Park.