The joint venture between Lincoln Property Company and MGT, Lincoln MGT, has submitted a planning application to Reading Borough Council for the second and most prominent phase of its transformative regeneration project at Station Hill. This application includes plans for 600,000 sq ft of prime, modern offices, flexible residential accommodation which can be adapted to deliver a new hotel or circa 750 homes, a brand new public square and pocket park.
This latest application refers to the northern part of the site, adjacent to the main entrance to Reading train station and follows unanimous approval for the first phase of the project at a planning committee in July 2019. Construction on phase one of the £750 million Station Hill redevelopment is due to begin in the coming weeks.
Once complete, both phases will combine to deliver 1,000 new homes for rent, office accommodation for approximately 8,000 employees, 100,000 sq ft of commercial space for retail, cafés and restaurants, and a new pedestrian link between the station and the town centre.
Alex Aitchison, Director of Development at Lincoln Property Company UK, comments on behalf of the joint owners:
“The submission of this planning application marks another key milestone towards the delivery of one of the largest regeneration projects currently underway in the South East. Our aim at Station Hill is to create the new gateway to Reading that the town deserves by bringing forward a best in class mixed use scheme which combines exceptional public realm, modern office space, a curated retail and leisure offer and new homes designed specifically for the rental market.
“We are pleased to be getting on with progressing our flagship UK project at Station Hill, which plays a key role in Lincoln’s wider strategy as we embark on a period of European expansion. We will bring the expertise of our growing London based team, following the recent appointments of a further six senior hires. This combined with our track record as one of the largest developers and operators of commercial and multifamily real estate in the U.S, will enable us to deliver a new district for Reading of exceptional quality at Station Hill.”