We were appointed by international directories business, Yell, to acquire new offices for its UK HQ.
This was the largest office acquisition in the Thames Valley for over six years.
Consolidation of three office buildings into one
Around 1,350 employees needed to move from two existing offices in Reading, plus a further 50 members of staff from offices in Slough. Space, design, location and environmental credentials were Yell’s top priorities throughout the project.
Confidential market search
We conducted a thorough search of the Reading market - both in and out of town. This search was conducted confidentially, so that the news of Yell’s move didn’t go public until a decision had been made and its employees had been consulted.
One Reading Central was selected as the preferred property. A pre-let agreement was signed on 153,500 sq ft, with a 20 year lease agreed with Kier Property and Invista Real Estate Investment Management.
On completion, the building would deliver high sustainability credentials in a central location, within close proximity to the main rail station, and a high specification design. It also offers Yell the flexibility to expand or indeed sub-let surplus space if needs be.
Assessing existing property to support client’s relocation budget
Our Building Consultancy team also conducted a dilapidations survey on both of Yell’s existing properties in Reading. They identified the likely repair and redecoration costs associated with moving and, in turn, Yell was able to factor these costs into the overall relocation budget.
Our Rating division is also delivering rating services nationally for Yell.
Yell now occupies eight storeys at the landmark office building. One Reading Central is the first property in what will become a substantial business district adjacent to the town’s main rail station.