Residential, Office, Retail and Lifestyle in Reading, England
The Station Hill development is a ongoing redevelopment project in Reading, England. It occupies a site between Friar Street and Station Hill in the centre of Reading, and takes its name from the latter. The development is adjacent to Thames Tower and the Reading railway station.
As of 2022, construction has started. The eventual development will comprise up to 625,000 square feet (58,100 m2) of office space, 1,300 private and affordable homes, 95,000 square feet (8,800 m2) of new lifestyle-led retail and leisure space, including potential for a 200-bed hotel and later living accommodation, and a central 2-acre (0.81 ha) piazza.[citation needed]
History
Proposals
A redevelopment of the land, then occupied by the disused Friars Walk shopping centre, bus station and former British Railways Western Tower offices, was initially proposed by Reading entrepreneur John Madejski, who bought the site in 2005.[citation needed]
In 2012, the Station Hill project passed to a joint venture between Benson Elliot and Stanhope. In February, they released a new £400m plan to be displayed to the public.[1] After the exhibition at the Town Hall, the developers said that the plans had received a positive response.[citation needed]
As of June 2018, Station Hill became a joint venture between Lincoln Property Company and MGT Investment Management (known as Lincoln MGT).[2] The BBC reported that the development was bought for close to £70 million from Sackville Developments.[3]
Construction
The development was split into three phases, with construction for the first two phases underway as of 2022 and the third having received outline planning permission. Phase one was due for completion in the fourth quarter of 2023 and phase two in early-2024.[citation needed]
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