Advised by Lambert Smith Hampton (LSH) and Campbell Gordon, Luminar and Wrenbridge have let 22,325 sq ft of offices at recently purchased Reading Bridge.
Luminar and Wrenbridge recently acquired Reading Bridge, on George Street, Reading, advised by national commercial property consultancy Lambert Smith Hampton (LSH).
Represented by LSH and Campbell Gordon, Luminar and Wrenbridge have now let 22,325 sq ft of office space at Reading Bridge to Bellpenny and Royal London.
National financial advisor, Bellpenny, has taken11,825 sq ft of office space on the sixth floor of Reading Bridge at £23 per sq ft, on a 10 year lease. Bellpenny was unrepresented.
Royal London, represented by LSH, has taken 10,500 sq ft by acquiring 4,900 sq ft on the ground floor of Reading Bridge and renewing its lease upon 5,600 sq ft on the seventh floor.
Luminar and Wrenbridge chose to invest in Reading Bridge partly because of the redevelopment of Reading station and the anticipated growth it will bring to the area.
Following the acquisition, Reading Bridge is undergoing an extensive refurbishment programme to make the building even more attractive to potential occupiers, with works due to complete in October.
The building is being totally transformed to include an enlarged reception area that will incorporate a cafe, high specification showers and lockers and newly refurbished office space and common areas.
Bellpenny is seeking to acquire high quality IFA businesses, and the move to Reading Bridge is part of its expansion plans. The national team of financial planners and advisors is moving from Apex Plaza in Reading to Reading Bridge because of its need for an office floor plate large enough to support a modern workplace.
Chris Reed, Finance Director at Bellpenny, said: “We were seeking quality offices close to the station in the centre of Reading. The refurbishment work on Reading Bridge helped to secure our decision because of the advanced amenities, including a large café and showers for cyclists.”
Philip Hunter, Director at Lambert Smith Hampton’s Reading office, said: “The early successes that we’ve achieved at Reading Bridge, including pre-letting space that isn’t yet refurbished, is testament to the building’s prime location, high specification and quality. The building also benefits from a relatively low occupational cost, which is proving particularly attractive to tenants”