VodafoneThree, the recently merged telecommunications giant, is formally bringing to market the lease on the 119,000-square-foot headquarters building that Three UK signed for in 2021 at Green Park in Reading.
Colliers has been appointed to market all of 450 Longwater Avenue, which Three UK committed to on a 15-year lease. Mapletree Investments developed and owns the building.
Vodafone UK and Three UK merged on 31 May 2025 to create the UK's largest mobile operator with 27 million subscribers, owned 51% by Vodafone and 49% by CK Hutchison. At the time Three UK was headquartered at Green Park, while Vodafone UK's headquarters is at its long-term home in Newbury in Berkshire at The Connection.
In 2023 IQON Capital, on behalf of Saudi investor Aljazira Capital, bought the Newbury's business campus with plans to redevelop part of it and lease part back to the-then downsizing telecoms business. Owner Vodafone entered into long-term leases on four of the seven buildings at the site. It is understood that Three UK staff in Reading will consolidate into these buildings.
IQON Capital, a London-based real estate company "focused on innovation and sustainability", closed the acquisition for Aljazira Capital, with Oval Real Estate acting as asset and development manager. Aljazira Capital is a one-person Saudi closed joint stock company owned by Bank Al-Jazira.
Colliers had brought the campus, which was built in 2002, to market for Vodafone seeking offers in excess of £70 million.
Set in 38 acres on the outskirts of Newbury, where the company was founded in 1985, the campus comprises 486,270 square feet of offices across seven self-contained buildings, which were named after pioneers in communications and engineering, including Alexander Bell, John Baird and Edith Clarke.
Since 2022, Vodafone has implemented a new blended working model for its 10,000 UK employees which includes a combination of home, site and field-based working, shifting the company’s traditional office space to become hubs for co-workers to interact in person, it has said.