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Sackville Developments Reading Limited (SDRL) has submitted plans for the £500 million regeneration scheme of Reading’s town centre that will create new jobs and boost the trades.
The regeneration of the Station Hill site in Reading is an employment-led mixed-use redevelopment which will include new homes, shops, cafés and leisure facilities.
SDRL represents a joint venture between Benson Elliot and Stanhope PLC. Between them, Stanhope PLC and Benson Elliot have the expertise and stable financial backing to deliver a first class redevelopment to Station Hill.
The application has been drawn up following extensive consultation with local residents and business owners as well as council representatives.
Jason Margrave, Development Director of Stanhope said: “This application is the culmination of a considerable amount of consultation with Reading Borough Council as well as the promoters of the neighbouring Thames Tower.
“The designs we have submitted have been widely supported by the public and we believe they will considerably transform this part of the town, building on the significant investment currently taking place at the station.
“Following consultation, we have included an enlarged public open space in the heart of the scheme, improved the retail offer and incorporated more public art.”
The public exhibition which took place in February last year attracted over 700 people, with over 95% of respondents supporting that the area is in need of regeneration.
The application is due to be decided by Reading Borough Council later in the year. If approved, work will look to commence in 2014.
Whilst redevelopment is taking place, it is the intention of the developers to create a temporary event space outside of Reading Station to be used for a variety of cultural and entertainment events.
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