Regional water utility firm Thames Water is running a big-box warehouse requirement in the South East of England, CoStar News can reveal.
Market sources said the company is looking to secure a 100,000-square-foot facility in Reading, the location of its current headquarters at Clearwater Court, Vastern Road. It has instructed Carter Jonas.
Sources added that the firm, which was fined a record £122.7 million by regulator Ofwat in May for a "series of failures to build, maintain and operate adequate infrastructure", has already explored a couple of options.
They include Wrenbridge’s 229,000-square-foot redevelopment of the former Reading Council office headquarters at Shire Hall. The developer and its joint venture partner Fiera Real Estate are delivering a £75 million, five-unit hub at Shinfield Park after buying the site in 2024.
The second property understood to have been viewed by Thames Water is Panattoni's Theale scheme, a 106,453-square-foot speculative facility across two units that can be combined on the M4 motorway. The developer received planning for Panattoni Park Reading in September.
Thames Water was approached for comment. Carter Jonas, Panattoni and Wrenbridge declined to comment.