Pepsi set to occupy offices in Reading hit by fire

The drinks giant that also produces Mountain Dew and Rockstar Energy has long had offices in Green Park, Whitley.

But it is soon set to move to One Station Hill, a huge new office building in the heart of the town centre.

PepsiCo will be joined by PwC, a business management consultancy firm, and NewFlex which is a co-working space operator.

The tower in Station Hill is being finished off ready for a hoped-for completion in mid-October.

READ MORE: Massive office tower in Reading reaches build milestone 

The project to build the tower is being undertaken in a joint venture called Lincoln MGT, made up of Lincoln Property Company and MGT Investment Management.

Evan Reynolds, development director at Lincoln and speaking on behalf of the joint venture, said: “For over 20 years, the Station Hill site remained undeveloped, leaving a significant gap in an area that should welcome those arriving in the capital of the Thames Valley—until now.

“The commitment from three tenants of this calibre, for terms exceeding ten years, speaks volumes about the positive impact of well-executed town centre regeneration.

The One Station Hill office tower in Reading town centre. Credit: Andy Stagg

“ Each tenant has embraced our vision that the workplace should be a destination—a best-in-class workspace with premium amenities, easily accessible and set in a fully curated environment.

“Only by providing all of these can we truly say that ONE Station Hill is setting the new standard for Grade A office development.”

Jason Richards, the general manager of PepsiCo UK & Ireland, said that the company would move in next year. Mr Richards added the move will allow it to support ‘flexible ways of working’ and meet its environmental commitments given the sustainability of the new building.

Gareth Murfitt, Reading Senior Partner at PwC, commented that a place in Station Hill puts the company in one of the fastest-growing urban centre economies, helped by the Elizabeth Line. PwC currently occupies offices in Forbury Road.

Meanwhile, Steve Jude, CEO of NewFlex, said Reading has become a ‘pivotal destination for ambitious businesses’ and its occupancy will begin shortly after the tower is complete this year.

The announcements mean 40 per cent of One Station Hill has been let out.

While the announcements have been touted by Lincoln MGT, the One Station Hill offices was the site of a fire in November last year.

READ MORE: Investigations take place after fires at huge town centre office tower 

During the incident in November, a worker was dramatically rescued by a crane operator.

The Royal Berkshire Fire and Rescue Service (RBFRS) and the Health and Safety Executive (HSE) both conducted investigations after that fire.

The HSE and RBFRS have been contacted for information on the conclusion of those investigations.

£850 million has been invested in the Station Hill site as a whole, which includes the Ebb&Flow apartments in Friar Street and the Siren Craft Brew bar.