A total of 115,000 sq ft within ONE Station Hill in Reading has been let in deals announced by developer Lincoln MGT.
In the first lettings announced at the 285, 000 sq ft office scheme, PepsiCo, PwC and NewFlex have become the first occupiers and the combined total of the deals accounts for 40 per cent of the space, four months ahead of its expected practical completion in mid-October.
In the three lettings:
- PepsiCo will take 38,255 sq ft across floors seven and eight and a private terrace of 3,853 sq ft.
- Professional services business PwC – which has 19 offices across the UK – has signed for 41,954 sq ft across floors five and six.
- NewFlex – a pioneer in ‘space-as-a-service’ – will take 31,765 sq ft across floors one and two.
PepsiCo will leave Green Park in favour of its new location while PwC will move from Forbury Place. NewFlex is new to Reading and currently seeking its own tenants to use its space.
ONE Station Hill – designed by leading international architect Gensler – is arranged across lower ground and ground floors and fifteen upper floors, with roof terraces on floors eight and 15.
The best-in-class space development is set in two acres of landscaped public realm and improved pedestrian accessibility. As well as being an all-electric building using air source heat pumps and extensive smart building technology, ONE Station Hill targets BREEAM Outstanding, a Platinum WELL score and an EPC A.
During Autumn the Station Hill scheme will connect Friar Street to the station via its pedestrianised public realm.
Speaking on behalf of the Lincoln MGT joint venture, Evan Reynolds, development director for Lincoln Property, said: “For over 20 years, the Station Hill site remained undeveloped, leaving a significant gap in an area that should welcome those arriving in the capital of the Thames Valley—until now.
“The commitment from three tenants of this calibre, for terms exceeding ten years, speaks volumes about the positive impact of well-executed town centre regeneration.
“Each tenant has embraced our vision that the workplace should be a destination—a best-in-class workspace with premium amenities, easily accessible and set in a fully curated environment. Only by providing all of these can we truly say that ONE Station Hill is setting the new standard for Grade A office development.”
Jason Richards, general manager of PepsiCo UK & Ireland, said: “We are excited to be moving to ONE Station Hill in 2025 and being part of the new vision for a vibrant, regenerated Reading town centre. ONE Station Hill will offer our UK-based employees a modern and collaborative workplace that supports our flexible ways of working.
“Furthermore, the building has been designed with sustainability in mind, reflecting our own commitments to reducing our impact on the environment.”
Gareth Murfitt, Reading senior partner at PwC, said: “I am thrilled to announce the signing of the lease for ONE Station Hill in Reading. As one of the fastest-growing urban centre economies, with improved infrastructure, the arrival of the Elizabeth Line and updated railway networks, the area is becoming increasingly attractive for investment.
“This new office space reflects our commitment to our people, clients, and the local community in Reading and the Thames Valley. It demonstrates our dedication to creating a dynamic, collaborative, and efficient working environment that fosters inclusivity and prioritises sustainability.
“This move will reinforce our presence in Reading and the Thames Valley, enabling us to continue making a positive impact on the local market and contributing to the growth of the local economy.”
Steve Jude, chief executive of NewFlex, said: “Given that it supports more than 15,000 businesses ranging from start-ups to globally recognised brands, Reading has solidified its reputation as a premier international business hub, particularly in the science and technology sectors.
“As one of the fastest-growing urban economies in the UK – bolstered by the strong impact of the Elizabeth Line and the rapid link this provides to London – Reading stands as a pivotal destination for ambitious businesses. We’re delighted to have been selected to manage more than 30,000 sq ft of flexible workspace and eagerly anticipate welcoming businesses and entrepreneurs later this year.”
The lettings agents for ONE Station Hill are JLL and Hatch Real Estate.
© Thames Tap (powered by ukpropertyforums.com).
Sign up to receive our weekly free journal, The Forum here.
