They have taken a 6 year lease at a rent of £32.00 per sq ft.
Nick Turner, Asset Manager at Northwood Investors comments: “CloudFactory is attracted to the building due to its presence within Reading town centre as an iconic landmark. This transaction, which is our 5th in 2018, is a great example of our determination to offer fast growing SMEs the flexibility to grow within The Blade. We now have a whole floor and a ‘plug and play’ suite ready to receive other likeminded, ambitious occupiers.”
Tom Fletcher, Director of Office Agency at LSH’s Thames Valley offices, added: “CloudFactory’s expansion demonstrates the continuing trend of smaller occupiers growing fast within Reading. Reading is second only to London for concentration of SMEs and taking just the Digital Tech sector alone, the average number of start-up births is 605 per annum, which is only bettered by London and Manchester. The Blade not only offers a prominent and iconic home for business, it now also offers a business lounge for collaboration and Pure serviced offices for the ultimate workspace flexibility.”
The Blade, which is Reading’s tallest building, stands at 86 metres high and comprises of 110,000 sq ft of offices space over 14 floors. It has been owned by Northwood Investors since late 2017 and having tripled the size of the reception, added a business lounge, and opened a Pure serviced office, the building is now 92% occupied. A whole floor of 8,406 sq ft and a ‘plug and play’ suite of approximately 2,218 sq ft remain.
Northwood Investors are represented by Lambert Smith Hampton & Haslams
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