Planning permission has been secured by Kier Property at their 20 acre site Reading Gateway, subject to agreeing the S106 with the Council. The proposed mixed use scheme comprises 175 new homes, 12 commercial units which will be developed under Kier’s Trade City brand, two car showrooms, three retail warehouse units totalling approximately 50,000 sq ft, a 120-bed hotel, a pub restaurant, coffee shop, drive thru restaurant and a bank.
The site to the south of Reading, close to junction 11 of the M4, is a major gateway development site for Reading which has remained vacant since HP moved off the site in 2006. “This planning consent is a major step towards seeing development on the site, and the timing is perfect given the current buoyancy in the property market” commented Neil Seager of Haslams.
It is understood that there is strong interest from occupiers in all parts of the scheme, and as a result construction will commence in early summer 2016. Philip Hunter of Lambert Smith Hampton added “It is a real boon for Reading that this important gateway site is to finally coming to life. It will significantly add to the vibrancy and amenity of the location”.
“We are excited to start building this important mixed use development on a prominent site fronting the A33. In addition to providing much needed houses, the mix of uses will help boost the local economy and generate many new employment opportunities. The planning consent is the result of several months of hard work by our professional team, in conjunction with a number of occupiers” commented Ioan Rees of Kier Property.
Haslams and Lambert Smith Hampton are joint letting agents for Kier Property.
Added by
Neil Seager
BSc (Hons) MRICS