Reading Gateway site sold
Wed 22 October 2014, 10:27 am
Property companies Kier and Investec have joined forces to buy an 8.3-ha site at the Reading Gateway.
Kier’s development proposals include 250 homes, a hotel and light industrial, trade counter space on the site, which was formerly home to computer firm, Hewlett Packard, and is close to the M4 and Reading FC’s Madejski Stadium.
The site is identified as a South Reading strategic development site, with a designation that shows for employment, residential, leisure and small-scale retail.
Planning permission is already in place for 39,670sq m of distribution warehouses, a consent that was renewed in February 2014.
Leigh Thomas, director for Kier Property, said: "We are delighted to be in a position where we can announce the purchase of this site. Our team, advised by Haslams' Reading office, has worked extremely hard to make this deal happen and we are very proud to finally confirm this site purchase.
“We plan to progress very quickly and will be submitting planning in early January, with a view to start in the summer of 2015."