Reading’s Green Park lands major office tenant

Quintiles, the world’s largest pharmaceuticals services group, has gone under offer on a 120,000 sq ft headquarters building at PRUPIM’s Green Park, EGi News has learnt.   The US group will take on Wyeth’s prelet agreement for a purpose-built HQ at the 180-acre park. It is understood to be paying around £27 per sq ft.   Wyeth signed a prelet for 500 Brook Drive, off Longwater Avenue, in 2007 but the move was shelved earlier this year following the pharmaceutical group’s takeover by Pfizer.   Quintiles will consolidate out of three buildings totalling 100,000 sq ft in Bracknell, Berkshire – Station House, Ringside and the Columbia Centre.   It also considered Cisco’s unoccupied 300 South Oak Way at Green Park, Terrace Hill’s Maxis in Bracknell, and RREEF and Landid’s Capitol in Bracknell.   The letting is a significant boost for Green Park and the Thames Valley market as a whole. Less than 250,000 sq ft of offices were let in the Western Corridor region in the first quarter of 2010, the lowest quarterly total for 15 years.    Rory Carson, Associate Director at PRUPIM, said: “We are in advanced negotiations with Quintiles to move into 500 Brook Drive, Green Park, Reading. Until final agreement is reached, we are unable to provide any further details.”   CB Richard Ellis advised Pfizer; Knight Frank and Campbell Gordon advised PRUPIM; Cushman & Wakefield advised Quintiles.