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Reading Office Space Guide

Serviced offices for rent in Reading

[Last updated March 2023] A guide to serviced offices and office space for rent in Reading as well as general information that may be useful if you are thinking of renting office space in the town.

For further offices information or to search office space to rent in Reading just click. Or contact us for any other query.

History & Geography

Reading is one of South East England’s most idyllic cities, spreading from the foothills of the Berkshire Downs to a low ridge on the southern edge of the Thames floodplain. Located just west of London near the confluence of the River Thames and River Kennet, the city’s location has made it a perfect river port, and it was as a trading centre in Roman Britain that Reading was born. After the departure of the Romans, the city continued to thrive as a regional trading hub, its prosperity was only briefly interrupted in 870 CE by an invading Danish army that occupied the city for a year. After the invasion of Britain by the Normans in 1066, William the Conqueror built Battle Abbey in the area to commemorate his victory. In 1121, Henry I built Reading Abbey and the town continued to expand in population and size and by 1525 was the largest town in Berkshire.  By the 17th century, Reading had a population of more than 5,000 and had developed a thriving cloth trade. During the English Civil War, Reading was occupied by Royalist forces and subsequently besieged by a Parliamentary army. Reading’s cloth trade was badly hampered by the hostilities and never fully recovered. During the 18th century, the city developed the brewing industry for which it later became famous, as well as major ironworks. With the arrival of the Industrial Revolution in the 19th century, the city became a significant manufacturing centre, its population grew and the arrival of the railway increased its importance. Reading grew further during the 20th century and large housing projects were erected around the outskirts of the city. The Lower Early, which was built in 1977, was one of the largest housing estates in Europe. Today, the city is an important commercial centre with many commuting to the city to work in its many diversified industries.

Economy

Reading is the commercial centre of the Thames Valley and one of Southern England’s most important economic hubs. Many major British companies are headquartered in Reading and a significant amount of multinationals have a presence in the city. Among the companies which call Reading home are BG Group, ING Direct, Microsoft, Oracle and Yell Group. PepsiCo, Wrigley and Prudential all have offices in the city. Information technology is an important industry in Reading since the city was the site of the now-defunct International Computers Limited. Agilent Technologies, Cisco, Ericsson, Nvidia, Regus, SGI, Symantec, Verizon Business and Websense all have large operations in the city. Reading is also a major retail centre, attracting visitors from all over the region to its shops. A recent poll placed Reading 16th of the best-performing retail centres in the country. Reading’s main shopping area is on Broad Street, where the Oracle, the biggest shopping mall in Reading, is based. The city has no indoor market, however, there is an outdoor market on Hosier Street in the town centre, and a farmer’s market on two Saturdays of every month.

Culture & Tourism

Reading is not a tourist magnet like the capital, only 40 miles away, but it does attract a fair amount of visitors throughout the year and is considered a cultural centre of the region. Reading sees the most visitors for the famous Reading Festival in August every year. The festival has been running since 1971 and is one of the largest music festivals in the UK, attracting almost 100,000 people every year. The Reading Beer Festival, held in May is another major attraction, and since its debut in 1999, has become one of the largest beer festivals in England. Reading also has a thriving theatre scene, its two most important venues being the Hexagon and 21 South Street. The unofficial symbol of Reading is the statue of the Maiwand Lion in Forbury Gardens, a public garden in the outer court of Reading Abbey. The statue commemorates the officers of the Berkshire Regiment who died in the Battle of Maiwand in Afghanistan in 1880. Another landmark that has become distinctive of Reading is the Blade, erected in 2009. Standing 420 feet tall, the building can be seen from much of the surrounding country. The city’s oldest and most famous church is the Reading Minster, founded in the 7th century.

Transportation

Reading station is a major junction point of the national rail system. The station acts as an important transfer point and terminus for many national lines. The station underwent an £850 million refurbishment that was completed in 2015. Reading is linked to both Paddington and Waterloo in London. Other stations in the area are Reading West, Tilehurst and Earley.

The opening of the Elizabeth Line in May 2022 has been welcomed by Reading and journeys to the capital take just 25 minutes. 

The nearest airport to Reading is London Heathrow, approximately 25 miles away, accessible through an express bus service or the train. In the city itself, the main form of public transport is the local bus network, however, the city is known to become congested during peak hours. Reading also operates a bike-sharing system with approximately 1,000 bicycles available from 150 docking stations around the city.

Office space to rent in Reading

The Reading office market is made up of city-centre office space and space on the outskirts of the city in large office parks like Green Park Business Park and Arlington Business Park. Approximately 56 percent of available space is located out of town though city centre availability has risen above one million square feet.

There is, however, a lack of Grade A office space in the city centre. Particularly with ESG credentials such as BREEAM Outstanding, Fitwell 3* and RESET Air certifications.

That being said, the development pipeline that includes the Here + Now campus and One Station Hill will be providing space that meets these credentials.

In 2018, Reading’s office market saw a significant upturn in demand both in the city and the out-of-town locations. This led town centre rentals to increase, with the prime rent standing at £30 per square foot. In contrast, out-of-town headline rents stood at £27.50 per square foot. 

Take-up was 210,641 square feet in 2021 which represented a reduction of 3% from the previous year.

In 2023, prime office rent is slightly north of the £40 per square foot mark, and local agents believe that Reading’s first £50 per square foot deal will be done at One Station Hill which ticks ESG boxes and has had high profile occupiers such as Microsoft and EY show interest.

There are 14 flex space providers in Reading that offer flexible alternatives to leased office space such as private serviced offices, managed office suites and corporate coworking desk space membership plans.

The solutions offer the flexibility of short-term contracts with the practicality of all-inclusive pricing.

Profiles of all Ready providers can be seen in this directory.

 

We carry out a free office space search and our advisory and acquisition services are also free, always. Our Reading office space brokers and agents are globally regulated by the Royal Institution of Chartered Surveyors (RICS) ensuring the highest standards of commercial property advice and service at all times. We look forward to helping you find the best office space for rent for your business.

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