Reading: Microsoft to sell two HQ buildings for £26.5m
Microsoft Properties UK has launched the sale of two office headquarters and a vacant plot at Thames Valley Park in Reading.
Knight Frank has been appointed to formally market the buildings for a guide price of £26.5 million, following vacant possession in February 2020.
Microsoft has centralised its occupation at Thames Valley Park into Buildings 1, 2 and 3, which provide 241,000 sq ft of offices.
Comprising 69,350 sq ft and 85,900 sq ft, Buildings 4 and 5 at Thames Valley Park, can be combined into a single headquarters building of 155,250 sq ft, occupied individually or in multi-let occupation.
The original architect, TP Bennett, has illustrated the remodelling of the buildings with a focus on the business park’s green environment and potential sustainability credentials that a purchaser and occupier can achieve.
Following refurbishment, the existing office buildings represent one of five opportunities in the wider Thames Valley and west London market region for an occupier to lease over 60,000 sq ft.
The vacant plot 6 received planning permission for over 100,000 sq ft of employment use with the potential to secure alternative uses, following Wokingham District Council’s review of its Local Plan within four years.
Emma Goodford, partner at Knight Frank, said: “Despite the current uncertainty, Thames Valley Park has held its own in the last 12 months, successfully attracting global biopharmaceutical company Sanofi, and multinational information technology company HP.
“Buildings 4 and 5 represent a rare opportunity for investors and the opportunity to create a secure mini campus for an occupier. The properties can provide an exceptional office environment, benefitting from a service and amenity offer aligned with the demands of a younger workforce. In addition, the new Park and Ride, due to complete this autumn, will increase access between Thames Valley Park and Reading city centre connecting to central London with high speed train links.”
Knight Frank is retained as advisers to Microsoft Properties UK.
Source: CoStar
