Lincoln MGT, a joint venture between Lincoln Property Company and MGT Investment Management, has announced the appointment of Sir Robert McAlpine (SRM) as the contractor for the second phase of its £750m Station Hill scheme in Reading.
SRM is delivering the most prominent phase of the regeneration project, which includes ‘ONE’ Station Hill (the 275,000 sq ft office building), a new public square and a link bridge providing level access from the train station through to the town centre. This latest phase will be completed in early-2024.
Preparatory works have already begun, with the town centre now visible from the train station for the first time in generations following the demolition of the Garrard Street car park, regarded by many as an outdated and unpleasant welcome to Reading.
Construction on the first phase, a new 600-home community, is also well underway, with the first homes ready to occupy in Q2 2023. Final completion is expected to coincide with the conclusion of works on Phase 2 in 2024.
Once complete, Station Hill will comprise up to 625,000 sq ft best-in-class office space, 1300 private and affordable homes, and 100,000 sq ft of new lifestyle-led retail and leisure space, including potential for a 200-bed hotel and later living accommodation, and central two-acre piazza. This will deliver a truly sustainable eco-system of blended uses that complement one another, setting a new benchmark for regional regeneration.
Alex Aitchison, Director of Development at Lincoln Property Company UK, said:
“As we continue apace at Station Hill, already one of the largest-ever speculative projects in the history of the Thames Valley, today’s announcement ensures that Reading will soon have a new, world-class welcome befitting it’s status. Sir Robert McAlpine brings with it over 150 years of experience delivering iconic construction projects and we are delighted to partner with them to deliver this unique, cohesive vision for the people of Reading.”
Ian Cheung, Managing Director, Southern, at Sir Robert McAlpine, said: “We are delighted to be appointed as lead contractor on phase 2 of the construction of the Station Hill scheme. We look forward to working with Lincoln MGT to deliver this exciting new development for Reading. This is also a great opportunity for Sir Robert McAlpine to be working with the skilled workforce locally and creating social value for the community.”
Notes to editors
ONE Station Hill (‘ONE’), designed by architects Gensler, has a focus on technology, wellbeing sustainability, and will set a new standard for workspace outside of London, with direct ease of access to the station, as well as parks, green terraces, mature trees and play areas, leading through to a central public square hosting a calendar of events, including local markets, outdoor cinema screenings and live events – the scheme the aspiration of Station Hill to be the cultural centre for the town and a destination in its own right.
Phase Two summary:
‘ONE’ will adjoin a new 600-unit Build-to-Rent (BTR) residential community already underway in phase one, linked by significant public and social infrastructure improvements that will change the face and reputation of Reading, as the town continues its drive for long overdue city status.
Direct access to the station will cross through a new park, providing green terraces, mature trees and play areas, leading through to a central public square hosting a calendar of events, including local markets, outdoor cinema screenings and live events – fulfilling the aspiration of Station Hill to be the cultural centre for the town and a destination in its own right.
Once complete Station Hill will, comprise up to 625,000 sq ft best-in-class office space, 1300 private and affordable homes, and 100,000 sq ft of new lifestyle-led retail and leisure space, including potential for a 200-bed hotel and later living accommodation, and central two-acre piazza.
In addition to the £50m of social infrastructure created by the new scheme, it is estimated that the direct effect of over 8,000 employees and residential occupiers will generate an additional spend in the local economy of between £17.5 and £30.3 million each year.
Phase One – Completion in Q4 2023 (first homes in occupation Q2 2023)
Phase Two – Completion in early 2024.
Visit www.stationhill.co.uk for more information.
Visit www.LPC.com for more on Lincoln Property Company
Visit www.mgtim.com for more on MGT Investment Management