In April 2013, Huawei will take up residence at the 140,000 sq ft building at 300 South Oak Way, which was recently returned to Green Park under a landmark deal that has given Oxford Properties full control of the asset.
First stage in Huawei’s £1.3billion investment
The announcement is the first step in Huawei’s £1.3 billion-pound investment and procurement programme into the UK. Huawei’s move to Green Park follows the announcement by Ren Zhengfei, founder and CEO of Huawei, in September 2012, that the company would make investments of £650 million and spend another £650 million on procurement in the UK over the next five years. The privately-owned group also announced that the company’s workforce would increase from the 800 it currently employs in the UK, to 1,500, over the next five years.
Oxford Properties welcomes new tenant
The agreement is Oxford Properties’ largest deal since acquiring the business park in November 2011 and confirms Green Park’s position as a premier business location in the Thames Valley.
Victor Zhang, CEO, Huawei Technologies UK said: “This move marks the beginning of an exciting new period of development for Huawei in the UK. We opened our first office in here in 2001 and the decision to move to a new headquarters reinforces our long term commitment to the UK. Green Park is at the heart of the Britain’s communications and technology industry, is well located for some of our major customers, has excellent transport links and is the right location for us as we continue our UK expansion. The new HQ offers the space to accommodate up to 1,000 people as our business here continues to grow in the coming years.”
Chris Carter Keall, vice president of Oxford Properties, said: “We are delighted that Huawei will be joining our thriving business community at Green Park. This transaction is a strong example of Oxford’s asset management capabilities. Maximising the flexible, Grade A space recently returned to Oxford Properties has been a priority for us and we’ve worked closely with the Huawei team to understand their requirements and put together a package that fulfils their specific needs. Green Park, with its excellent facilities, access to a skilled workforce, and transport links, is able to provide the best environment to support Huawei’s future growth.”
Welcoming Huawei to Green Park, Alok Sharma, MP for Reading West, said: “I am very pleased that Huawei has chosen to base its headquarters in my constituency in Reading and I look forward to welcoming them to the area. Huawei is providing important investment to the UK and creating hundreds of new jobs for Reading and Green Park, demonstrating once again that Reading is an economic powerhouse in the south-east.”