Green light for Station Hill development
by Jim Dunton Fri 13 December 2013, 10:59 am
Benson Elliot and Stanhope have won planning permission for the £500 million redevelopment of a 5-acre site opposite Reading Station.
Their 1.2 million sq feet Station Hill scheme is predominantly office-focused, but also includes 300 flats, 32,000 sq feet of retail, and around 9,000 sq feet of leisure space.
The leisure space will include a multi-use facility on the top of the remodeled Garrard Street car park that will boast a five-a-side football pitch and running track.
Sackville Developments Reading - Benson Elliot and Stanhope’s joint-venture partnership for the scheme - said it would begin clearing the existing site early next year, and that a temporary event space was expected to be delivered in around 12 months time.
Benson Elliot partner Phil Irons said the Allies & Morrison-designed scheme was crucial for the regeneration of an area that would “ultimately be seen as the heart of Reading”.
“We are delighted to have secured consent for the redevelopment of this critical town centre site,” he said.
“The Reading office market is supply constrained in terms of grade-A space and we believe our scheme will meet the demand for prime, modern and well-located offices.”
Jason Margrave, development director at Stanhope, said that the scheme would build on the significant investment already made with Network Rail’s redevelopment of Reading Station.
“The scheme provides a great opportunity to extend and enhance the retail core in line with the borough’s long term vision and it will also create significant new employment opportunities," he said.