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LONDON-McKay Securities has let its 84,167-sf Reading office development Great Brighams Mead to Hutchison 3G UK.

The lease is for a term of 21 years without break at an initial rent of £2.28 million ($3.25 million) a year. It comes with a rent-free period of 9 months spread over the first two years of the term.

Hutchison 3G UK is a joint company of Hutchison Whampoa, NTT Do Co Mo and KPN Mobile, formed to set up and operate a third-generation mobile telephones, following the UK Government’s licence auction.

Commenting on the letting, McKay Securities managing director Eric Lloyd said: ‘Given the current economic uncertainty, this can only be described as a landmark transaction for central Reading.’

Agents acting for McKay Securities were Vail Williams and Lambert Smith Hampton. Saxon Law acted for Hutchison 3G.

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