Reading office building set for redevelopment

New owner plans apart-hotel/retail scheme at 100 Kings Road

Article posted: 02 Dec 2011

Acting on behalf of T A Fisher, Lambert Smith Hampton has completed the acquisition of office space in Reading, Berkshire with a view to transforming the property into a new apart-hotel in the town centre.

100 Kings Road has been purchased by property development company, T A Fisher, from the previous owner, RREEF Asset Management. Subject to planning consent, T A Fisher now plans to redevelop the former office building, which totals 39,526 sq ft across five floors, into a new mixed use scheme. This will include two retail units targeted at the gym/health and fitness occupier, and on the upper floors T A Fisher proposes to create a brand new, high quality apart-hotel incorporating approximately 50-60 suites and to be run under the House of Fisher brand. 

Chris Reeve, Director in LSH’s Reading office, commented: “This deal illustrates the improving confidence in Reading town centre’s commercial property market. Subject to obtaining the necessary planning consents, the deal also marks further investment and welcome regeneration not only to Reading’s Kings Road, but to a redundant office building which has been empty for several years.”

House of Fisher is the region's leading provider of centrally located serviced apartments in Reading, Bracknell, Maidenhead, Basingstoke, and shortly Camberley and Farnborough. It offers a smarter alternative to a hotel, offering luxury serviced apartments and apart-hotels that allow corporate and leisure guests to live and relax for short-term stays as they would in their own home. House of Fisher’s existing Reading facility is at City Wall House, West Street which will continue to operate under this expansion plan.

RREEF Asset Management was represented in the transaction by Campbell Gordon.

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Posted by Sam