Pepsi moves to central Reading
The company will be one of the first to occupy One Station Hill
Last updated 10th Jun 2024
Pepsi will be one of the companies set to occupy new offices at the One Station Hill building in Reading that was hit by fires last year.
The drinks giant that also produces Mountain Dew and Rockstar Energy has long had offices in Green Park in south Reading.
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.
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.
Regeneration
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.
“ 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:
“We are excited to be moving to One Station Hill in 2025 and being part of the new vision for a vibrant, regenerated Reading town centre. One Station Hill will offer our UK-based employees a modern and collaborative workplace that supports our flexible ways of working. Furthermore, the building has been designed with sustainability in mind, reflecting our own commitments to reducing our impact on the environment."
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.
Fires
While the announcements have been touted by Lincoln MGT, the One Station Hill offices was the site of two fires in July and November last year.
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.