LGIM Real Assets has secured a further three lettings at Apex, next to Reading train station.
Apex – formerly Apex Plaza – comprises 221,000 sq ft of Grade A office space and underwent a further refurbishment this year as part of Legal & General’s second phase of its ‘Capsule’ concept, a more flexible leasing offer.
Capsule offers a range of options to suit occupiers needs, moving away from the traditional Category-A fit out to provide a “furnished and work ready offer making leasing easier, quicker and cheaper”, LGIM said.
The three lettings within Apex include: planning consultancy Lichfields, which has added 1,109 sq ft at Apex, Randstad recruitment agency, which has taken 935 sq ft, and MMT, which has taken 1,303 sq ft. All three occupiers have opted for a five-year flexible lease.
With these three new tenants in place, and the five tenants secured in 2019, Apex Plaza has 25,000 sq ft available for rental. A further 8,000 sq ft will be refurbished for Capsule with completion targeted Q3 2020.
Andrew Mercer, office sector lead at LGIM Real Assets, said: “Despite the Covid crisis, the Capsule offer continues to see great traction, and these Apex lettings are testament to this. Capsule is a flexible offer for our occupiers, delivering high quality, furnished and work ready fitted office space across the UK. Whilst there may be a sea of change ahead in the real estate sector, our approach will be customer and market driven by offering straightforward, low capital solutions which can be transacted without delay.”