3M UK, the British arm of American science-based technology and manufacturing group, plans to relocate its headquarters from Bracknell to Building 1050, Winnersh Triangle, Reading, another major consolidation in the South East by a United States corporate giant that was revealed by CoStar News.
The 50,000-square-foot facility, formerly the E2 building, has been prelet with the move intended to take place in the last quarter of 2027. 3M said the relocation supports the company’s long‑term operational needs and reflects its commitment to providing a "modern, efficient environment for employees" and customers.
The site will be designed and repurposed to meet the company's business requirements, including updated office space, laboratories and what it calls a dedicated Customer Innovation Centre.
The company joins American tech powerhouses Oracle and Microsoft in scaling back occupancy of offices in the Thames Valley, their favoured location during the dotcom boom. The newer generation of tech giants such as Apple, Meta, Amazon and Google have tended to choose central London for campuses, while the likes of Microsoft and Oracle have consolidated as they have focused on hybrid working.
“This move gives us an exciting opportunity to rethink how our teams connect and collaborate,” said Sophia Oliphant, managing director, 3M United Kingdom, in a statement. “Winnersh Triangle offers a thriving, welcoming community with good connections and amenities. Being there will help us create the right setting for future growth, stronger customer engagement and a more connected workplace experience.”
The 1.5-million-square-foot Winnersh Triangle is owned and managed by Frasers Property UK and is home to technology, data and science sector companies.
Rupert Batho, commercial director at Frasers Property UK, said 3M's addition to the park further strengthens Winnersh Triangle’s position as one of the "United Kingdom’s leading hubs for science, technology and innovation-led businesses, and we look forward to welcoming the team and supporting their continued growth as part of the Winnersh Triangle community.”
3M UK was represented by Colliers and Frasers Property are advised by CBRE and Cushman and Wakefield.
The letting sees 3M decamp from its circa 182,000-square-foot campus at the 3M Centre on Cain Road in Bracknell.
CoStar News revealed at the end of last year that Microsoft had gone under offer to consolidate all operations into an 80,000-square-foot headquarters in the Here building at Thames Valley Park. In 2020 the group had centralised its occupation into Buildings 1, 2 and 3, which provide 241,000 square feet of offices. Buildings 1, 2 and 3 were bought by The Valesco Group, the European real estate investment manager, and AIP Asset Management, the Seoul-headquartered asset manager, for around £100 million in 2018.
Microsoft sold the vacated Buildings 4 and 5 to Baumont Real Estate, which alongside V7 has redeveloped them as the 146,000-square-foot Here and Now campus. The Now building is also majority-leased.
CoStar News revealed in February that Oracle, the computer giant founded by tech billionaire Larry Ellison, has launched a search for new offices in Reading in a move that is expected to unlock the sale of its 24-acre campus in the Berkshire town.
Market sources said the group has begun to view options for a 40,000 to 60,000-square-foot requirement in either out-of-town or the town centre of Reading, about 40 miles west of London.
Mark Stansfield, senior director of United Kingdom market analytics for CoStar Group, said: “3M’s letting at Winnersh Triangle is one of only five private sector lettings of 50,000 square feet or more outside London so far this year. While it represents another significant space consolidation in the Thames Valley, it does indicate healthy demand for space on good-quality business parks, following Microsoft’s letting at Thames Valley Park three months ago and several deals to firms affiliated to the United Kingdom’s defence industry at Green Park over the past couple of years. Firms have proved willing to pay high rents for top-quality space in the Thames Valley and vacancies, while high, have been on a downward trajectory recently.”