August 26, 2014
M&G Real Estate has let a further 14,769 sq ft 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 sq ft and 7,150 sq ft respectively.
Fast growing data management software company CommVault has signed a new 7-year lease. The company originally signed a 10-year lease in Block B for 20,500 sq ft of space. With an additional 7,619 sq ft on the fourth floor within Block B, CommVault now occupies a total of 28,239 sq ft. 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 sq ft last August and now a new 10-year lease on a further 7,150 sq ft on the first floor. The bank now occupies 15,270 sq ft 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.”
M&G Real Estate was advised by CBRE and Campbell Gordon. CommVault was represented by Hicks Baker and Aldermore represented themselves.
