Visa decides to stay put in Reading

Office space search called off by payments company

Article posted: 25 Apr 2011

It has been reported that payments company Visa has called off its search for new office space in the Thames Valley and decided instead to stay put at its offices in Reading at Kennet Wharf.

The search was one of the biggest requirements of office space in Berkshire with around 80,000 sq ft needed by the credit card giant.

The news will come as a disappointment to PMB Holdings whose new development The Blade in Reading (pictured), was rumoured to be Visa’s favoured destination. The 419 ft high, 14 floor tower comprises 110,399 sq ft of grade A office space in Reading town centre.

Visa currently occupies 56,215 sq ft at Telereal Trillium’s Kennet Wharf, on a five-year sublease signed in May 2007. At the time the move was welcomed as significant inward investment in the town with Visa relocating from offices in Basingstoke. It is thought that Visa will try to regear its existing lease rather than move.

Telereal Trillium is advised by Lambert Smith Hampton; Cushman & Wakefield represent Visa.

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Posted by Sara