Pepsi seals business space leasing deal

Wednesday, March 03, 2010

Soft drinks company agrees business space leasing deal in Reading.

By Ashley Brunskill

Pepsi has agreed a new business space leasing deal with Aviva Investors at its 37,000-sq-ft building at Arlington Business Park in Theale, Berkshire.

The soft drinks company had previously been considering a commercial relocation and had reportedly looked at other space in Reading in buildings such as Aviva Investors' and PMB Holdings' The Blade and Prupim's Green Park.

Property Week reports, however, that Aviva has held on to the deal for five years more for its Walkers Snack Food operation.

The reports suggests that one year of the £25/sqft deal will be rent-free for the business.

A spokesman for Pepsi said: "Pepsi Co remains in Theale and renewed its lease with Aviva Investors at 15-30 Arlington Business Park following a recent search for headquarters space in Reading."

He added that Pepsi will remain in the 37,000 sq ft building and the adjacent property for another five years.

UK companies have recently been urged not to forget about their business rates this month, as the deadline for retrospective claims or appeals for rates dating back to 2005 looms.

Source: ask-re The Property People LLP