2.51 Acres
For Sale
Development / Residential
| Property Type | Development / Residential |
| Tenure | For Sale |
| Size | 2.51 Acres |
| Energy Performance Rating | This property has been set as EPC exempt. Reason: No building present |
The site is prominently located immediately to the west of the town centre with an extensive frontage to Reading’s Inner Distribution Road (A329). Regular in shape and extending to approximately 1.01 hectares (2.51 acres), the site also benefits from frontages to Weldale Street and Chatham Street.
Presently the property comprises an early 1980s edge of town centre retail park of 3 units totalling c.4,928 sq m (c.53,040 sq ft) with surface and decked car parking.
Detailed planning permission was obtained in January 2018 for a comprehensive redevelopment of the site to comprise 427 residential apartments (including 43 affordable apartments) arranged in 4 Blocks of 8 – 12 storeys with ancillary commercial/amenity space and 124 on site car spaces, plus cycle spaces.
The scheme will provide 2 courtyards with apartments arranged either side of a new pedestrian avenue with vibrant public real spaces and high quality defined private amenity space for residents. The blocks will be arranged on LGF – 6th, 8th, 9th and 10th floors totalling approx. 33,853 sq m (366,000 sq ft) Gross Internal Area, (c.260,000 sq ft Net Internal/Sales area) plus a 33,700 sq ft enclosed car park at LGF.
43 apartments with be allocated as affordable housing (10%). All 43 affordable apartments (30x social rent and 13x affordable rent) will be located in Block B1. We have been advised that the total CIL Liability for the development is £3,798,368.40, index-linked from April 2015. All relevant planning documents, S106 Agreement, floor plans, elevational drawings, a geotechnical report, services information and title information are available to interested parties via the secure data room. Also a full suite of planning drawings and related documents can be viewed via Reading Borough Council’s Planning Portal (planning application reference 170326). We believe there is potential to achieve an enhanced planning permission to develop a taller building with additional apartments.
