In the past month alone, four new tenants representing over 27,000 sq ft have taken space at the 48-acre Arlington Business Park, Reading, owned by Patron Capital, the pan-European property investor, and leading real estate adviser, APAM.
The new occupiers, Kier, Panaya, Nutanix and Willis Towers Watson have taken a combined space of 27,313 sq ft in Building 1410, leaving only the building’s top floor available. Of the four, cloud computing software provider, Nutanix, has taken the largest amount of space with 11,200 sq ft on the first floor of the building, which also includes the park’s new café lounge and gym amenities.
Comprising 11 buildings and totalling 360,000 sq ft of modern office space, Patron Capital and APAM have heavily invested in Arlington Business Park since its acquisition in 2015. This has included the delivery of a new café and gym, meeting rooms, office building extensions and refurbishments, a year-round events programme, as well as extensive enhancement of the landscaping and public realm.
With further investment in progress, over 50,000 sq ft of comprehensively refurbished Grade A space will be delivered to the market in 2018.
A state-of-the-art floating pavilion has recently been unveiled, offering an inventive lake setting for corporate meetings and social events. Unique for a UK business park, the pavilion provides a multi-functional, flexible space in the heart of the park.
The investment and new facilities have been extremely well received in the market, with 12 new lettings secured since the start of the investment program amid strong interest from businesses including those relocating from towns and business parks along the M4.
Over 50,000 sq ft in two buildings; Building 1320, totalling 20,000 sq ft and Building 1240, totalling 34,000 sq ft, are currently undergoing a comprehensive refurbishment to Grade A specification, with completion expected prior to the end of the year.
Ben Dickins, asset manager at APAM, said: “With major national occupiers like Kier, Panaya, Nutanix and Willis Towers Watson joining the other big brands at Arlington, it is clear that the first-class amenities installed by Patron Capital and APAM are resulting in a flurry of lettings. With consistently strong occupier interest in the park we expect to be able to welcome further tenants over next few months.
“The dynamic facilities, quality of office space and dedicated events programme hosting over 40 events a year, which recently saw an incredible 1,300 people from the park and local community attend an outdoor film screening, provide for a remarkable work life environment. Through investing in the amenities and events at Arlington Business Park, we have created a cohesive community for all our tenants, making it easier for occupiers to interact and collaborate with the wide range of businesses on site.”
Patron Capital and APAM were advised on the transactions by joint agents, Avison Young, BNP Paribas Real Estate and Savills.
