44 property


Christie + Co expands with a new office in Reading


Ideally located in Green Park, Reading’s popular business complex, the Reading office of international specialist property adviser Christie + Co will deliver a full-service proposition encompassing ‘business intelligent’ agency, advisory and valuation services


The office will initially be manned by Rachel Seward (valuation services), Tim Widdows (hotels/ licence) and Hamza Riazuddin (retail), who will be joining the property firm later this month.


Seward commented: “We already enjoy excellent relationships with the professional community in the southern region, and with a new office in Reading we can further develop our network of professional contacts and agency work throughout Berkshire, Oxfordshire and the Thames Valley.”


Christie + Co is the leading specialist in each of its sectors, including licensed, leisure, hotels, healthcare, medical and retail both nationally and locally. As


well as its extensive experience and unrivalled client database, it uses its unique business intelligence to help clients stay one step ahead at every stage of the process. The opening of a new office in Reading further underpins the value it places on building and maintaining relationships with clients at a local level.


Although the Reading office is new, Christie + Co has always been active in the Thames Valley with circa 50 businesses formally valued in the region this year to date, predominantly for secured lending purposes.


In addition, its agents have also been active with sales in 2014 including The Reading Moat


House at Sindlesham, The Swan Hotel in Kingsclere and The Crab at Chieveley.


Regional director Ed Bellfield said: “I am delighted to be enhancing Christie + Co’s regional presence, reflecting the renewed confidence in our specialist markets and we look forward to working with our existing clients and generating further relationships across the region.“


Details: Rachel Seward MRICS rachel.seward@christie.com 0118-4021651


Ed Bellfield MRICS ed.bellfield@christie.com 0118-4021653


Chineham Park sold in £430m deal


Chineham Park at Basingstoke has been sold to new owners as part of a £430 million deal which promises to bring new investment and development to the 95-acre business park.


It was bought in a joint venture between Oaktree Capital Management and Patrizia ag, which already own Winnersh Triangle, Reading and Watchmoor Park, Camberley.


Rupert Batho, managing director of Chineham Park, said: “Chineham Park is one of the region’s success stories, with a strong track record for attracting and retaining businesses.


“The purchase by Oaktree and Patrizia is an exciting step in the next phase of the Park’s evolution and, with the existing management team transferring to the new ownership, we have the best team in place to build on the Park’s pedigree.”


Batho says Patrizia’s customer- focused approach and strong cultural fit will build on the


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Park’s existing reputation for innovation and service, such as this summer’s introduction of a new 'click & collect' grocery service in conjunction with Tesco, one of the first of its kind on a UK business park.


“This service is already being well used by both people who work on the Park and local residents, and is a great example of exactly the type of initiative we will be looking to develop and roll-out,” he said.


“Our new owners bring fresh belief, fresh impetus and substantial investment. Currently we are looking at what, where, how and when we can further develop the Park and enhance and expand the current facilities. We hope to be able to move forward with these plans in the early part of 2015.”


In the meantime he says, it’s very much business as usual for the 50- plus tenants on the mixed business park, that range from niche, high- tech software companies through to large corporate organisations with hundreds of staff.


With sister business parks at Reading and Camberley under the same ownership, Batho says the completion of the deal gives businesses looking to expand across the M3/M4 corridor a unique opportunity.


“No other management company has this quantum of space and can offer this type of accommodation solution across the Thames Valley,” he added. “Being part of a geographically bigger business community offers real synergies.


“If customers are looking to expand into the Reading area or across to the M3, or from those areas towards Basingstoke, we can now provide a variety of options to support their business and ensure we retain them as customers.”


The deal, which was supported by Barclays with a £345m loan, also saw the acquisition by Oaktree Capital Management and Patrizia ag of two further business parks in Glasgow and Warrington, making the joint venture one of the largest owners of business parks in the UK.


SEGRO launches office scheme


SEGRO has launched its new 68,000 sq ft speculative office scheme in Slough at an event in London. The development, which has already secured planning permission, is located at 234 Bath Road on the Slough Trading Estate, a popular headquarter location for multinational corporates.


Demolition is due to commence in November with completion set for Spring 2016. Large floorplates will offer grade-A office accommodation ranging in size from 22,000 sq ft to 68,000 sq ft, which can be let to a single company or multiple occupiers.


The design of the building includes a spectacular double height entrance to provide a real sense of arrival. The development will also include 223 car parking spaces. A BREEAM ‘very good’ rating is targeted, as retaining the basement and large elements of the podium and frame structure has reduced carbon consumption and environmental impact.


JLL and Savills are the leasing agents for 234 Bath Road.


THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2014 Rachel Seward


Ed Bellfield


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