Reading borough council has agreed to move its headquarters to Aberdeen Asset Management’s 85,000 sq ft Plaza West on Bridge Street.
The council had also shortlisted the RG2 building in Queen’s Walk, but opted for the cheaper option, which will have total costs of £60m over 25 years, including purchasing the freehold and associated move costs. The decision was also based on the council being able to move sooner.
Its relocation from its current home at the civic centre, Castle Street, could begin in 13 months. If the council had opted to stay at the Civic Centre, refurbishment would have cost £93m.
It had originally proposed to finance and build a new 125,000 sq ft HQ, but scrapped its plans in December 2008 after discovering that the project could cost as much as £100m more than the council’s original £54m estimate.
A spokesman for the council said: “The area around the civic centre needs to be regenerated. Once we have moved out, the building will be demolished as quickly as possible and we will be seeking a development partner to take forward a comprehensive regeneration project, after full public consultation.”
Strutt & Parker is acting for Aberdeen.
joanna.bourke@estatesgazette.com
