Spear Street Capital leases 15,000 sq ft to Norwegian video meeting tech biz in Reading

By Nicky Godding

29 October 2020

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US-headquartered Spear Street Capital has secured Pexip, a Norwegian-headquartered video meeting software technology company, for more than 15,000 sq ft at the newly refurbished Earley East in Reading.

Spear Street Capital invested a significant amount of capital into transforming the office building, which includes a new on-site café and represents some of the best space in the Thames Valley.

Quoting rents are £35 per sq ft and there is a further 60,570 sq ft available over three floors. DTRE & CBRE advised Spear Street Capital and Campbell Gordan advised Pexip.

Alex Lowdell from DTRE said ‘Signing such an exciting brand on completion of the refurbishment is a real testament to the high-quality office environment created at Earley East. The deal shows that even the most tech savvy businesses recognise the need for offices beyond the pandemic. We have strong interest in the remaining space and are confident this transaction will give us the momentum to lease up the remaining space quickly.’

Duncan Campbell, Director of Campbell Gordon said: "This represents significant expansion and betterment for Pexip, which is part of a new generation of companies redefining the occupier landscape in the Thames Valley. This is both in terms of their products and services, and in relation to the type of space they want for their staff. Whilst there are far fewer active requirements out in the market right now companies are still looking to grow and evolve over the medium term. When the pandemic is in retreat, the brakes will be released, and we expect to see pent up demand emerging strongly.’’

By Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.