Latest commercial property news from Lambert Smith Hampton

Pegasystems acquires offices in Reading

10/01/2011

Nick Coote

A second tenant has been secured for Reading’s largest ever office building, One Reading Central.

International software business, Pegasystems, will occupy 22,590 sq ft on the third floor of One Reading Central, joining international directories business, Yell, which moved to the building in 2010. A rent of £30 per sq ft has been agreed on a ten year lease.

Pegasystems expands in Reading

We represented Pegasystems in the office acquisition. Pegasystems is the market leader in business process management (BPM) and a leading provider of customer relationship management (CRM) solutions. It is expanding its existing base at Apex Plaza in the town centre, and its recent acquisition of Chordiant is one reason behind this expansion. The company will occupy One Reading Central by April 2011.

One Reading Central targets corporate occupiers

Kier Property and Invista Real Estate Investment Management, represented by LSH, DTZ and Hanover Green, are behind the 218,800 sq ft, ten storey building on Forbury Road in Reading town centre.

Gillian Scarth, Senior Development Manager at Kier, commented: “Throughout all stages of its development, One Reading Central has acknowledged the top requirements for corporate occupiers – proximity to a mainline rail station and large floor plates both being high on this list.

“With the building having completed less than a year ago, the arrival of a second blue chip tenant is positive news for the town, and the wider Thames Valley office market. Only two floors remain available, totalling 41,560 sq ft on the first and second floors.”

Pegasystems to showcase modern working practices

Nick Coote, Head of our Reading office, added: “Within Pegasystems’ international operations, One Reading Central will be a showcase of its modern working practices and collaborative office space. The company considered options throughout the Thames Valley and its decision to stay and expand within Reading is a vote of confidence for the town.”

We are now instructed on the next phase of the project, with our Building Consultants leading the project management of the office fit-out. Within Pegasystems’ international operations, One Reading Central will showcase its modern working practices and collaborative office space, with the fit-out creating a state-of-the-art workplace.

For further information relating to this news article contact 

Contact us now

Nicholas Coote
Head of Thames Valley

0118 960 6912

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