M&G Real Estate signs three lettings at R+ in Reading

M&G Real Estate, one of the UK’s leading property investors, has completed three lettings totalling 45,894 sq ft at office building, R+, in Reading. Moore Stephens LLP, Northgate plc and Central Working have taken space across the six-storey building.

Moore Stephens, the global accountancy and advisory firm, has signed a new ten-year lease to take 19,584 sq ft on the second floor, whilst Northgate plc, the FTSE 250 commercial vehicle rental provider has agreed to lease 10,239 sq ft on the fourth floor.

Flexible serviced office and co-working provider Central Working will occupy 16,071 sq ft on the ground floor of R+, taking a 15-year lease.

R+ has recently benefited from an enhanced business lounge reception with a Nespresso coffee machine and Sonos Play music system to help provide a creative and inspiring space. The building also provides a new concierge team that can arrange anything from booking taxis or arranging dry cleaning, enhancing productivity of occupiers’ staff by taking away day-to-day worries.

William Badger, Asset Manager at M&G Real Estate, said: “The improvements we have made to R+ have contributed to this successful trio of deals, as has the prime location opposite Reading station. The new auditorium and event space will further enrich the community at R+ and the flexible serviced office space enables occupiers in the building to grow and operate more efficiently.”

“The new facilities have helped attract a diverse range of tenants, including a listed company, a world-leading accounting and advisory firm and an exciting new co-working facility.”

Miles Hewitt-Boorman, Partner and Head of Thames Valley at Moore Stephens said: “We’re delighted to have secured space in R+, a new, modern development in the heart of Reading. This demonstrates our commitment to the Thames Valley as a strategically important area of the UK, providing links to Central London via Crossrail and as a gateway to the South West.”

M&G Real Estate was advised jointly by Savills, Bray Fox Smith and Lambert Smith Hampton. Moore Stephens were advised by JLL.