Monday, 18 August 2014
M&G Real Estate's Apex Plaza fully let as CommVault and Aldermore snap up remaining space (UK)
M&G Real Estate has let a further 14,769 ft² (approx. 1,372 m²) of office space at its Apex Plaza office complex in central Reading. The scheme is now fully let after existing tenants CommVault and Aldermore Bank took 7,619 ft² (approx. 707 m²) and 7,150 ft² (approx. 664 m²) respectively.
Fast growing data management software company CommVault has signed a new 7-year lease, having originally signed a 10-year lease in Block B for 20,500 ft² (approx. 1,904 m²) of space. With an additional 7,619 ft² (approx. 707 m²) on the fourth floor within Block B, CommVault now occupies a total of 28,239 ft² (approx. 2,623 m²). The terms on the additional space are co-terminus with the existing lease and expire in 2021.
Aldermore has expanded twice within Apex Plaza, taking an additional 2,433 ft² (approx. 226 m²) last August and now a new 10-year lease on a further 7,150 ft² (approx. 664 m²) on the first floor. The bank now occupies 15,270 ft² (approx. 1,419 m²) in total.
Following an extensive refurbishment in 2010, Apex Plaza is home to some well-known names in the financial and professional services sectors, such as Barclays, Ernst & Young, HSBC, and Osborne Clarke. Aaron Pope, Associate Director, Asset Management at M&G Real Estate, says: “We are delighted that Aldermore and CommVault are both expanding within Apex Plaza and that the scheme is now fully let. These latest deals demonstrate the demand for a high quality product in a central location, well served by fast transport links to central London.”
Source: RedWood Consulting