Quadrant House, Broad St Mall, Reading
Moorgarth, the asset manager of Broad Street Mall in Reading, continues to reposition the town centre as a retail-led mixed-use destination and has let 14,000 sq ft of office space to flexible workspace operator Co-Space.
Having identified Quadrant House, as being suitable for such use, Moorgarth appointed workspace specialist GKRE to find a new tenant. The subsequent deal sees Co-Space sign a ten-year lease to become the flexible workspace operator in the building, which forms part of a wider regeneration project focussed on Reading town centre.
Additionally, Co-Space has taken unit 20 at Broad Street Mall to provide a coffee shop and flexible workspace for the benefit of the shopping centre itself. This will provide a relaxed workspace option as well as a further amenity to the retail and leisure offering.
Gary Lewis, Managing Director at Moorgarth, said: Along with our new retail and leisure provisions, Co-Space’s flexible workspace offering will make a strong contribution to regeneration in the area for the benefit of both businesses and local residents. GKRE introduced us to the ideal operator in Co-Space, which will provide us with the right type of flexible workspace to help businesses scale up and drive their growth.
Will Kinnear, Director at GKRE, said: As the flexible workspace specialists, we are delighted to have acted for Moorgarth in advising on the letting of this space at Quadrant House, which is part of the ambitious and exciting Broad Street Mall regeneration project. The incorporation of flexible workspace into retail spaces is an increasingly popular trend and the deal further signals the growth of the flexible workspace market in major regional towns such as Reading.
William Stokes, CEO at Co-Space, said: Incorporating Quadrant House into our portfolio is an incredibly exciting development and we believe our professional and design-led flexible offer will complement the wider redevelopment of the Broad Street Mall area. Flexible workspaces are increasingly in demand by ambitious companies across the country and we are delighted to be able to provide this space for the benefit of local businesses as they seek to grow and expand as well as play a strong role in the regeneration of the area.