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Reading Office Tower Plans Revealed to Public

Reading Office Tower Plans Revealed to Public

Plans for 24 storeys of new office space at Thames Tower in Reading have been met with a mix of support and concern by local residents.

Currently standing at 11 storeys tall, Thames Tower was abandoned in 2010 and has been unoccupied ever since.

LaSalle Investment Management, owner of the property, is planning a redevelopment (pictured) that would see an expansion of the building to provide new office space for several tenants.

Following a four-day exhibition of plans to remodel the site, LaSalle Investment Management Director, Andrew Bull, had this to say on the perception of 300 local attendees:

ΓÇ£On some points our visitors were united. There was no affection for the existing Thames Tower and a very strong desire that the station area should be a better front door for visitors to Reading.

ΓÇ£A large majority of the people we meet understand the design of the new tower and want to see it built. They are impressed by the aim to create a building of international quality and they are excited to have it in Reading. Only a handful at the exhibition thought it was too tall or out of character.ΓÇ¥

Despite general positivity around the new office building, however, Mr Bull also reported some feelings of reluctance following the exhibition.

ΓÇ£Some local people remain unconvinced that Reading needs more offices,ΓÇ¥ said Mr Bull. ΓÇ£They see some very prominent empty offices and donΓÇÖt share our complete faith in the need for space of an entirely different type and quality.ΓÇ¥

An officebroker.com report for Q1 12 revealed that office space take-up in the Thames Valley region fell by 8% when compared with the same period in 2011, although the cost of office space also fell in comparison to the average prices recorded this time last year.

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Author: | May 28, 2012 | 0 Comments

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