One Station Hill developer Lincoln MGT has declined to comment on rumours of a completed deal which would see PwC take 40,000 sq ft at the scheme.
The professional services giant has also declined to comment on the suggestion that it is the first occupier to sign up at the landmark 285,000 sq ft scheme in Reading, after the rumour spread in the commercial agency world.
In addition, suggestions that food and drink supplier PepsiCo and flexible space operator NewFlex are close to signing deals at the scheme have been rife.
The rumours have come to Thames Tap from three unconnected sources.
One source in the commercial agency world told us: “Following a year, notable only for the dismal take up statistics seen in 2023, its very encouraging to see this year begin with what promises to be a hat-trick of lettings for Reading town centre.
“The letting to PwC has been rumoured for ages but it’s good to see it finally contract. The lettings to Pepsico and NewFlex, although not yet signed, are believed to be in the last stages of legals and, it is hoped, will be completed very shortly.
“It demonstrates the old adage ‘build and they will come’ and it’s to be hoped that other developers and funds will be encouraged to undertake similar scale office schemes now that the return to the office trend has become firmly entrenched.
“It’s also to be hoped that there will soon be good news for others who have had the foresight and conviction to undertake speculative schemes such as Alchemy Asset Management and Tristan Capital at Campus, Reading and V7 and Beaumont at Thames Valley Park.”
Lincoln MGT has also declined to comment on suggestions that last November’s fire will lead to a six-month delay in completing the building. It was due to open in Spring but Thames Tap understands it is now likely to be towards the end of 2024.
© Thames Tap (powered by ukpropertyforums.com).
Sign up to receive our weekly free journal, The Forum here.