Reading Bridge House, Reading

SUMMARY
Reading Bridge House was a 115,000 sq ft office building close to Reading railway station. We advised our client Diageo Pension Scheme on the options to optimise value of the site by either a refurbishment and extension to 155,000 sq ft or a complete redevelopment of the site.

HISTORY

Savills Fund Management, acting on behalf of Diageo Pension Scheme, appointed Central Property Estates to examine the refurbishment and redevelopment potential of this 115,000 sq ft net office building located in the centre of Reading close to Reading railway station prior to possible purchase.

Reading Bridge House has a frontage to the River Thames and a refurbishment scheme was developed to enlarge the existing building, to reclad the structure totally and to introduce full air conditioning. The scheme increased the net office space to 155,000 sq ft and made extensive use of the river frontage. A complete redevelopment was also identified as a potential option.

Diageo subsequently purchased the building as an investment with medium term potential.