Spaces has agreed a 15 year lease term, with a tenant break option after 10 years, at a rent 3.3% ahead of March 2017 ERV. 9 Greyfriars Road will represent Spaces' eighth location in the UK, and its first in Reading, since entering the UK market in 2015.
McKay acquired the vacant 9 Greyfriars Road off market in 2014, with the objective of carrying out a transformational refurbishment to reposition and upgrade the building to modern standards. On completion, the scheme achieved the first BREEAM “Outstanding” rating to be awarded to an office building outside London and an EPC A score for its sustainable design, ensuring running costs are kept to a minimum. The building was also winner of the BCO Southern Region award for the best refurbished workspace.
Located in the heart of Reading town centre, 9 Greyfriars Road is just a three minute walk from Reading railway station which provides direct access to London Paddington and is set to become substantially better connected with the arrival of Crossrail in 2019.