BauMont Real Estate Capital, a real estate private equity investment firm, has agreed to acquire two office buildings, Buildings 4 and 5, at Thames Valley Park in Reading from Microsoft. The purchase price was not disclosed.
The properties will undergo a comprehensive refurbishment which will focus on wellness and sustainability, said the company in a statement.
“Buildings need to appeal to employees, not only to attract and retain talent but following recent events, to actually encourage employees to visit the office. They need to offer a wide range of amenities, flexible space suitable for individual and collaborative working and a clean, hygienic environment where employees feel safe and able to circulate without being too close together. TVP 4 & 5 have great potential to deliver this offer. The country park and river surroundings add to the appeal, providing a sense of calm and space and the opportunity to commute to work along the river or exercise in the fresh air, while being less than 2.5 miles from the City Centre, soon to benefit from the introduction of Cross Rail,” said Natalie Harrison, Head of UK Investment at BauMont.
“As part of Microsoft’s ongoing project to consolidate our footprint and incorporate the latest design standards and agile ways of working into buildings one, two and three, we are delighted to have completed the sale of buildings four and five to BauMont Real Estate Capital. We look forward to welcoming our new neighbours to Thames Valley Park,” said Paul Benjamin, Senior Finance Director, Microsoft.
Knight Frank advised Microsoft.