NEW OWNER OF READING OFFICE SCHEME THE BLADE PLANS MAJOR INVESTMENT

March 20, 2018

Northwood Regional has announced plans to invest in Reading’s landmark office building, The Blade. Northwood acquired the 110,000 sq ft building last September from Aviva Investors and now intends to make a series of improvements both within the building and to the surrounding streetscape.

The Blade is Reading’s tallest office tower and is home to a range of occupiers including Bracket Global, Barton Wilmore and Urban Science. Northwood will relocate to the building this month from its current home in Newbury and plans to start internal works on the landmark building the following month.

The three-month project will include reconfiguring the reception area and refreshing common parts such as lighting and carpets. New shower facilities will also be installed for cyclists.

In addition, the asset manager hopes to secure planning permission to improve the streetscape around The Blade. It intends to install a canopy and enhance external lighting and signage.

Northwood is investing to further enhance its new asset which already has an impressive track record. The Shepherd Robson-designed scheme was completed in 2009and has attracted a diverse tenant line up. In 2016, it set a record rent for Reading when law firm Gateley signed up for 7,200 sq ft of top floor space at £34 per sq ft.
Located within a few minutes-walk of Reading station, The Blade is ideally placed to take advantage of the 2019 opening of the Elizabeth Line. Northwood’s investment will make that offer even more appealing.

Northwood’s Nick Turner said: “The Blade is already a hugely successful office building and we are making this investment so we continue to meet the needs of modern occupiers. We look forward to getting started on the internal work and using our hands-on asset management experience to stay ahead of the competition.”

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