British pounds

M&G Real Estate makes GBP35m off-market acquisition in Reading

Tue, 20/05/2014 - 16:00

M&G Real Estate has acquired Reading Bridge House for GBP35 million on behalf of the M&G Property Portfolio, managed by Fiona Rowley and deputy manager Justin Upton of M&G Real Estate.

Reading Bridge House is one of Reading’s biggest land mark buildings providing 113,778 sq ft of grade A office accommodation over ten storeys. It is prominently located on the northern side of Reading Town Centre, a short walk from Reading Station and the Heathrow Rail Air link.
Reading’s economy has continued to attract significant inward investment, primarily due to its strategic location in the heart of the UK’s transport network and its proximity to Heathrow and London.
Rowley says: “This is an important acquisition for us – Reading is the focal point for economic growth along the M4 corridor and one of the most accessible office centres for Central London in the Thames Valley.”
This is the third office acquisition made on behalf of the M&G Property Portfolio this year, following the purchases of Riverside House in January and 108 Cannon Street earlier this month.

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