Acting on behalf of Mapeley Estates, we have completed a 25,617 sq ft office letting in Reading which will see one of the town’s major occupiers relocate and expand its premises.
Kyocera Document Solutions, one of the world’s leading document output management companies, has signed a lease expiring in January 2021 at Eldon Court, London Road in Reading. Kyocera is currently based in Beacontree Plaza on Gillette Way.
Longstanding UK headquarters in Reading
Kyocera is a Japanese company, established in 1959 and headquartered in Kyoto. Its UK headquarters have been based in Reading since 1988, and the company has since established a support centre in Milton Keynes and a technology suite in London. It sells and supports its product range in the UK and Republic of Ireland, through a network of authorised distributors, dealers and resellers.
Tom Fletcher, Associate Director in our Reading Agency team, commented: “The size of the deal, and the relocation of a prominent occupier within the town, make this an important office transaction for Reading and will give the town centre’s office take-up figures a boost."
Lease break fuelling acquisition and expansion
"With a lease break looming later this year the company recognised that current market conditions could be used to its advantage in being able to upgrade its accommodation. Its current offices total around 15,000 sq ft, so taking 25,617 sq ft at Eldon Court also gives flexibility for growth.”
Duncan Jarvis, Senior Asset Manager at Mapeley Estates, added: “We are delighted to have assisted Kyocera Document Solutions in its continued success in Reading, and to have achieved another significant letting this year within Mapeley’s office estate."
Town centre deals expected to boost 2013 office take-up
Tom added: “Looking at the Thames Valley as a whole, total office take-up reached 1.53m sq ft in 2012 – compared to the 1.7m recorded in the previous two years. While this dip was seen as much in Reading as in other centres in the region, there are now a number of large town centre deals in progress that we expect to boost 2013 take-up figures considerably."
LSH, Savills and Campbell Gordon acted for Mapeley Estates, and Campbell Gordon acted for Kyocera Document Solutions.