Phoenix is a 51,000 sq. ft. office building in a core town centre location adjacent to and 100m from the new redeveloped Reading train station.
The property was comprehensively refurbished to Grade A specification in 2013. The refurbishment included double height reception and a new mechanical and electrical services throughout. The building has a BREEAM rating of ‘Very Good’.
The property was acquired by Ediston in October 2014 for £19.5m reflecting a net initial yield of 6.58%.
Secured Babcock Corporate Services Limited on the fourth floor at £29.00 per sq. ft. per annum, a record rent for the property.