Oval Real Estate has begun the redevelopment of Vodafone’s Newbury head offices.

The 38-acre, 452,155 sq ft business campus, known as The Connection, comprises seven office buildings, four of which the phone giant will continue to operate from, following a sale-leaseback agreement in 2023.

Work is now under way on Oval Real Estate and Iqon Capital’s refurbishment on the first of the remaining three buildings, the external campus environment and park facilities.

Work is due to take 12 months and will focus on creating sustainable, flexible workspaces, designed to attract high quality corporate tenants in innovation-led sectors such as life sciences, research and development, and technology companies.

The first building to be delivered (57,447 sq ft Building 1) will feature 7,207 sq ft of co-working space, meeting rooms, and adaptable office suites. It will also have a fitness centre, end of trip facilities, a sunken garden and café with outdoor seating.

The surrounding landscaped grounds will be remodelled to promote collaboration and innovation in large outdoor meeting pods.

The future phases will include Building 2 – 75,000 sq ft with floor plates from 25,000 sq ft – and Building 3 – 53,125 sq ft with floor plates from 15,000 sq ft.

The re-design of the properties and campus grounds was developed by internationally renowned design and innovation firm Carlo Ratti Associati in partnership with UK architectural practice AWW.

Will Parry, head of investment for Oval Real Estate, said: “Our vision is to establish The Connection as one of the premier business and innovation parks along the M4 corridor.

“By integrating sustainable design with state-of-the-art facilities, we aim to foster a vibrant community that supports innovation and growth. We can accommodate a single desk in the co-working space to a HQ campus so are excited to facilitate a thriving new business community.”

Marco Mauri, chief investment officer at Aljazira Capital, said: “We are proud to partner with Oval Real Estate and Iqon Capital on the transformation of The Connection into a world-class destination for technology and innovation.

“This investment reflects our commitment to long-term value creation through sustainable development and strategic international partnerships. The UK continues to be a key market for us, and The Connection represents an exceptional opportunity to support forward-thinking businesses in a thriving, future-ready environment.”

Building 1 aims to achieve BREEAM Outstanding and EPC A on completion.

Agents dealing with the scheme are Kevin Wood of CBRE and Ed Smith of BNP Paribas Real Estate.

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