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Yell, the international directories business, today announced it has signed a lease agreement with Kier Property and Invista Real Estate Investment Management for a new UK head office in a landmark office building under construction in the centre of Reading, Berkshire.
Yell will take 153,500sq ft of office space over eight storeys in One Reading Central, the first new property in a substantial business campus being developed near the town’s main rail station. This first phase of the Reading Central development will comprise 216,000 sq ft - the largest ever office building in Reading town centre. On completion, the development will comprise three high specification office buildings that will exceed
600,000 sq ft and completely reshape the Reading skyline.
Around 1,350 Yell employees are scheduled to move into One Reading Central in summer 2010, in a relocation from two existing Reading town centre offices.
These are a six-storey property in Queens Walk where it has been based for more than 20 years and two floors at Bridge Street Plaza. Around 50 employees currently based at Yell premises in Slough, Berkshire, and who have head office supporting jobs will also relocate to One Reading Central.
Yell has been represented in the property acquisition by national commercial property consultancy, Lambert Smith Hampton (LSH), which will handle the search for future occupiers of the vacated buildings.
John Condron, chief executive of Yell, said: “Yell has seen tremendous growth and development in recent years and the opportunity to relocate our UK head office teams to one building will enable us to build on this for the future and gives us the opportunity to enhance team working and communication.
“With its sophisticated, distinctive architecture and specially designed working spaces our new UK headquarters will provide the best of office environments that are right for Yell’s business status and dynamism.”
The office premises, which will incorporate renewable energy systems, are being built to a highly distinctive and sustainable design that will mark it out from traditional red brick buildings prevalent in the older parts of Reading town. A key external feature will be extensive glass cladding.
The new building will have energy conservation and environment-friendly infrastructure systems to reduce its carbon impact – a design target being that the building attains a BREEAM (British Research Establishments Environmental Assessment Method) rating of 'very good'.
Leigh Thomas, associate director at Kier Property, said: “One Reading Central will be an exceptional office building and a landmark for Reading and the Thames Valley business community.
“With Yell’s stature as an international blue chip business and its long history in the town, it is fitting that it will be the first occupant of Reading’s largest ever office building.”
The building’s location in central Reading, within a few minutes walk of the main rail station, means it lies at the heart of the Thames Valley, acknowledged as the UK’s most successful commercial centre outside London.
Invista and Kier’s agents on the Reading Central scheme are LSH and DTZ. Yell has been represented in this deal by LSH.
For more information please contact:
Kier Property
Viv Chesterfield
Kier Group Corporate Communications
Tel. 01767 640111
viv.chesterfield@kier.co.uk
Yell
Jon Salmon
Yell Press Office
Tel. 0118 950 6656
Mobile: 07801 977340
jon.salmon@yellgroup.com
Lambert Smith Hampton
Laura Scott
Marketing & PR Manager
Lambert Smith Hampton
Tel. 0118 960 6910
lscott@lsh.co.uk
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