Croudace Properties has exchanged contracts for the purchase of Beauclerc House, 3 Queens Road, Reading,from Lloyds Banking Group.
Located adjacent to the Oracle Shopping Centre, the building provides direct access to the town centre facilities and the Railway Station as well as views over the River Kennett.
The building provides 15,000 sq ft over four floors and will be comprehensively refurbished to Grade-A office accommodation. New windows throughout, as well as a new entrance, will give this building a new identity. Internally everything will be replaced and modernised, including new WC and shower facilities plus mechanical and electrical plant.
Aaron Glover of Croudace Properties commented “We are delighted to have secured such a good property in Reading, the capital of the Thames Valley. The Reading property market has withstood the recession comparatively well and is now set to grow. Our plans to comprehensively strip the building and renew it speculatively demonstrate our confidence in this location. We believe that there is a good market for top quality space at a discount to new build rental levels”.