Thames Valley Acquisition completes

Further to the January blog “Reading Acquisition Update” it was confirmed last week that PRUPIM has completed the £22.6 million deal for Energis House, which totals 108,000 ft², together with a neighbouring development plot.  Energis House is the controversial, loved and hated in equal measure, ex Metal Box building, an octagonal throwback to the heady days of the 1960’s with fine views over Reading Gaol.  For over 10 years there has been speculation as to the future of this site, with interest being shown from a number of parties over time.

With Cable & Wireless in occupation until July 2015 and planning permission in place for development of 370,000 ft² of office space, attention (and speculation) will now turn to the timing on future development usage for the site.  Next door, One Reading Central is complete, and Two & Three Reading Central are now in the pipeline, so the potential for the site is significant.  The opportunity for the creation of a centrally located business hub is significant and further developments will be keenly watched.