Vodafone has put its UK headquarters up for sale and is looking to lease part of the site back on a long-term basis.
The Connection, comprising 486,270 sq ft of space across seven buildings, is located on a 38-acre site in Newbury.
The move comes as the telecoms firm restructures its property portfolio following a successful six-month trial of blended working in the wake of the Covid-19 pandemic. The new strategy includes home-based, site-based and hybrid working roles.
As a result, Vodafone will compress its presence to four of the campus’s buildings and invest in optimising those for the experience of their employees.
The remaining three buildings – Babbage House, Faraday House and Clarke House, which comprise of a total of 210,492 sq ft of offices – will be available for repurposing for other occupiers or for redevelopment.
David Fry, head of property at Vodafone UK, said: “The site will remain as our Vodafone UK headquarters, and continue to host the majority of our people. This is a change of ownership that ensures optimal use of the campus and allows us to reinvest funds back into our business to better serve our customers.”
It has appointed Colliers to lead the sale.
Chris Lewis, head of office investment at Colliers, said: “The town has grown in recent years and with significant residential development now on the doorstep of The Connection, further housing could be a strong option, but the potential alternative uses aren’t limited to this and there will be many occupiers and investors keen to explore other angles, given the location and excellent connectivity to the motorway network.”
The news came amid reports that Vodafone is seeking to expand its office space in London’s West End by up to 40,000 sq ft. The firm already holds about 130,000 sq ft of offices at 1 Kingdom Street, W2, a building owned by CC Land, where its lease expires in 2023.
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