Legal & General has secured five newly refurbished lettings in Reading as part of the company's new 'Capsule' concept.

Capsule provides more flexibility in the leasing process, offering a range of options to suit occupier needs, moving away from the traditional Category-A fit out and longer lease length to fully fitted space let on a more flexible basis.

The Capsule lettings secured at Reading's Apex Plaza include 1,200 sq ft to The Open Ground Limited, 2,648 sq ft to TP Group and 802 sq ft to Resource Solutions Group PLC, all on five year flexible leases. Existing occupiers, Aldermore Bank, have also increased their presence within the building, taking an additional 7,500 sq ft suite which is currently under refurbishment.


Only 27,427 sq ft in Apex Plaza remains available for rental. A further 7,500 sq ft is now being renovated under Capsule, with one unit already under offer.

Andrew Mercer, Office Sector Lead at LGIM Real Assets, said: "Capsule is a re-imagined process offering flexible, high quality, furnished and work ready fitted office space throughout the UK. It is a mutually beneficial option, acknowledging the frustrations that send many occupiers towards flexible providers, while retaining the traditional benefits of leasing from an established provider. We have seen a growing demand for this kind of leasing solution and Apex Plaza is a great example of this. Across our Capsule portfolio, we are seeing falling void periods, quicker uptake of space and up to 20% additional returns to investors. This is a really exciting new option for the office sector."

(CM/MH)