Joint venture partners Lincoln Property Company and MGT Investment Management have completed a hat-trick of office lettings totalling 115,000 sq ft at the £850m Station Hill mixed-use development in Reading.
PepsiCo, PwC and NewFlex have become the first occupiers at ONE Station Hill, taking the office building to more than 40% let ahead of practical completion in mid-October.
PepsiCo has signed for 38,255 sq ft across floors seven and eight, in addition to a private terrace of 3,853 sq ft, PwC has taken 41,954 sq ft across floors five and six and NewFlex has signed for 31,765 sq ft across the first and second floor of the building.
Designed by Gensler, ONE Station Hill is located directly opposite Reading railway station and is arranged across lower ground and ground floors and 15 upper floors, with roof terraces on floors eight and 15.
Evan Reynolds, development director at Lincoln, said: “For over 20 years, the Station Hill site remained undeveloped, leaving a significant gap in an area that should welcome those arriving in the capital of the Thames Valley until now.
“The commitment from three tenants of this calibre, for terms exceeding 10 years, speaks volumes about the positive impact of well-executed town centre regeneration. Each tenant has embraced our vision that the workplace should be a destination – a best-in-class workspace with premium amenities, easily accessible and set in a fully curated environment. Only by providing all of these can we truly say that ONE Station Hill is setting the new standard for Grade A office development.”
Jason Richards, general manager at PepsiCo UK & Ireland, added: “We are excited to be moving to ONE Station Hill in 2025 and being part of the new vision for a vibrant, regenerated Reading town centre. ONE Station Hill will offer our UK-based employees a modern and collaborative workplace that supports our flexible ways of working. Furthermore, the building has been designed with sustainability in mind, reflecting our own commitments to reducing our impact on the environment.”
Gareth Murfitt, Reading senior partner at PwC, said: “I am thrilled to announce the signing of the lease for ONE Station Hill in Reading. As one of the fastest-growing urban centre economies, with improved infrastructure, the arrival of the Elizabeth Line and updated railway networks, the area is becoming increasingly attractive for investment. This new office space reflects our commitment to our people, clients, and the local community in Reading and the Thames Valley.
“It demonstrates our dedication to creating a dynamic, collaborative, and efficient working environment that fosters inclusivity and prioritises sustainability. This move will reinforce our presence in Reading and the Thames Valley, enabling us to continue making a positive impact on the local market and contributing to the growth of the local economy.”
Steve Jude, CEO of NewFlex, added: “Given that it supports more than 15,000 businesses ranging from start-ups to globally recognised brands, Reading has solidified its reputation as a premier international business hub, particularly in the science and technology sectors.
“As one of the fastest-growing urban economies in the UK – bolstered by the strong impact of the Elizabeth line and the rapid link this provides to London – Reading stands as a pivotal destination for ambitious businesses. We’re delighted to have been selected to manage more than 30,000 sq ft of flexible workspace and eagerly anticipate welcoming businesses and entrepreneurs later this year.”
The letting agents for ONE Station Hill are JLL and Hatch Real Estate.
