Historically Verizon, formerly Worldcom, occupied 5 offices in central London, principally in Holborn. In parallel with the dotcom boom of the late 1990s they saw an opportunity to relocate to a single, highly efficient and cost saving location in the Thames Valley where there is a dearth of highly skilled IT labour.
To provide a single European HQ office in Reading where they could occupy large, efficient floor plates in a high profile bespoke building.
Whilst benefitting from the Thames Valley demographics they also required a location that provided first class road access to Heathrow International Airport and a frequent bus route to and from Reading Town Centre for employees.
The Goodman Solution
The first phase of development was commenced speculatively in 1999 and this commitment gave Verizon confidence that their aspirations could be delivered. Density under the planning consent for the second phase was increased to satisfy Verizon's requirements in 1999 and was pre-committed in the traditional way in Q1 2000. This increased the size of the building from 330,000 sq ft net to 370,000 sq ft net.
Land adjacent to Phase 1 & 2 was acquired in 2001 to provide for Phase 3 should Verizon wish to expand.
The building was completed on time and on budget in 2001 and awarded "Best Development on a Business Park" in the same year by the Office Agents Society.