Hermes snaps up station-side development site

Fri 30 November 2012, 3:55 pm

A 6.5 acre mixed-use development site next to Reading Station is being bought by Hermes Property Unit Trust.

The site is owned by Royal Mail but is currently let to Network Rail on a lease that has two more years left to run, website CoStar reported this week.

It said fund-management firm Hermes was understood to be paying “around £12 million” for the site.

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