Croudace Properties has returned to the Reading market with the acquisition of the freehold interest at 35 Greyfriars Road. The 10,000 sq ft office building is vacant and Croudace are planning to refurbish the property to return it to Grade A quality.
The property is adjacent to the new Station Hill Scheme – a leading regeneration project within the M4 corridor. This £500 million regeneration will provide 300 homes, new shops and offices plus a rooftop sports pitch and running track.
The building is just 300m from Reading Station where the £990 million refurbishment has just completed. These improvements, together with the new Heathrow link and extension of Crossrail to the town, have re-cemented Reading as the capital of the Thames Valley.
Aaron Glover of Croudace Properties explains “This is our second purchase in Reading in recent months. The location is one of real significance; being adjacent to the Station Hill Scheme we feel there is great scope to produce a high quality building".
"We are delighted to have secured this opportunity and have started work in earnest with our design team to consider the options. We will reposition and reconfigure this tired 1980s building and make it complement and benefit from the nearby regeneration. Reading continues to be an exciting place to invest in”.