Mobile network operator Three UK has committed to a 117,000 sq ft headquarters building at Singaporean investor Mapletree’s Green Park in Reading in a deal first revealed by CoStar News.
Three today announced it intended to combine both its two Thames Valley offices into a single central one for the first time, which is to be based in Reading. The 117,000 sq ft building at 450 Longwater Avenue, is still under construction at the Green Park business centre.
In addition, Three said it has also been looking at the way it works and has decided to ’embed a hybrid approach’ to working across all offices. Employees will be encouraged to see the office as a hub they can use in combination with home working, rather than a place to work five days a week.
Assuming all goes to plan the operator aims to have staff working in the new central office from Q3 of 2021, it said.
Robert Finnegan, CEO of Three UK, said: “Maidenhead has been our home for the last 17 years and we’re thankful for the support of the Royal Borough of Windsor & Maidenhead Council during this time.
“But now it is time for a new chapter in Three’s history and we are really excited to be moving our central office into Green Park, Reading. We have looked hard to find a place that fits the type of organisation we are today, but also one that will suit us as we grow over the coming years.”
At present Three UK employs more than 4,800 people across its offices in Maidenhead, Glasgow and Reading, including its 311 retail stores.
CoStar News reported at the end of last year that Three had ‘urgently’ rebooted its requirement. The group, which is advised by Alder King, had shortlisted four options for the requirement earlier in 2020 before shelving that while it reconsidered options during the pandemic.
It occupies 120,000 sq ft at Star House on Grenfell Road in Maidenhead with around one-year left on its lease with landlord Legal & General and confirmed in November it would be leaving what has been its home for 17 years. It also occupies 90,000 sq ft in Reading, at the former Hutchison 3G office in Great Brighams Mead on a lease that expires soon.
Totaling 228,000 sq ft, Mapletree’s two new buildings at 400 and 450 Longwater Avenue provide column-free office space, to be accredited by the WELL Building Institute.
Each building will provide 114,000 sq ft net of Grade A offices on ground and four upper floors within what Mapletree describes as ‘biodiverse, landscaped grounds with decking overlooking Longwater Lake’.
Market sources suggest that Amazon, advised by Colliers, is also looking at the park for a South East requirement.
Cushman & Wakefield and Campbell Gordon act for Mapletree. Alder King acted for Three.
Three’s previously shortlisted options are: Aberdeen Standard Investment’s Kings Chase site in Maidenhead where the landlord has received consent for a major redevelopment; M&G Real Estate’s Forbury Place estate in Reading; and Royal London Asset Management and XLB’s Statesman House office and development site in Maidenhead.