Ericsson (NASDAQ: ERIC) today announced it will establish a new UK headquarters in Thames Tower, Reading, the UK.
Ericsson has signed a ten-year lease with Thames Tower development partners, Landid and Brockton Capital, and work is already underway to establish world-class ICT facilities which will be spread across 37,600 square feet (3,493 square meters) over three floors. The modern, flexible working environment will house a state of the art Network Operations Center from which Ericsson will manage mobile infrastructure and services for operators across the UK, including more than 25,000 mobile base stations and half a million multi technology radio cells.
Thames Tower will bring together all staff currently located at the company’s Guildford and Newbury offices. Work is scheduled to be completed in Q4 2018.
Marielle Lindgren, Head of Ericsson UK & Ireland, says: “Establishing our new headquarters in Reading marks the start of another chapter of innovation and collaboration in Ericsson UK. It brings us closer to our customers and creates an exciting opportunity for us to be at the heart of one of the UK’s leading IT and tech hubs, enabling us to attract the most talented ICT practitioners. We wanted our new office environment to address a number of things: to meet the needs of our evolving business requirements; to provide a collaborative, balanced and flexible work space; and to give easy access to a variety of amenities and transport options. Thames Tower offers all of this and more.
“We are sad to say farewell to Guildford and its strong and supportive community and we would like to extend our warmest thanks to everyone who has helped to make the city our home for the last 30 years.”
Situated directly opposite Reading Station, on the newly developed and pedestrianized Station Plaza, Thames Tower acts as a high-profile landmark, welcoming visitors to Reading. It boasts excellent transport links and ample parking facilities. Comprised of 14 floors, Thames Tower was designed to provide an exceptional working environment with panoramic 360-degree views and floor to ceiling glazing.
Reading is home to a number of global ICT companies and innovative start-ups. It is also a major regional retail center serving a large area of the Thames Valley, and is home to the University of Reading.
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Ericsson enables communications service providers to capture the full value of connectivity. The company’s portfolio spans Networks, Digital Services, Managed Services, and Emerging Business and is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson’s investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world. The Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com
ABOUT THE LANDID AND BROCKTON CAPITAL JOINT VENTURE
The first joint venture between Landid and a Brockton Capital Fund (“the Landid/Brockton JV”) was formed in 2013 to invest in office opportunities requiring refurbishment or redevelopment, initially in the UK’s Western Corridor markets. Their aim is to create a new generation of decentralised office space which reflects the needs of modern occupiers in terms of design, working environment, sustainability, cost effectiveness and transport connections. The joint venture is the largest developer in the Thames Valley, accounting for around 25% of office development in the area.
Landid was formed in 2005, with a focus on sustainable built environments that meet both market and occupier’s specific requirements. As office experts, they also have the capability to deliver mixed use developments across the UK. The management team has collectively more than 150 years’ experience in asset management, development and refurbishment with the key individuals having been involved in some of the largest projects throughout the UK and continental Europe. With 14 projects over 10 years, the Landid team has developed more than 13 million sq ft. www.landid.co.uk
ABOUT BROCKTON CAPITAL
Funds advised by Brockton Capital LLP have equity AUM in excess of £1.4bn and invest across all sectors, typically into significant properties that have a large degree of asset management initiatives to undertake at either the financial, physical or occupier level. Brockton Capital LLP was established in 2005 and is an investment adviser to private real estate funds, with a 100% focus on UK real estate. www.brocktoncapital.com