Lincoln MGT, a joint venture between Lincoln Property Company and MGT Investment Management, will begin demolishing the Garrard Street car park on 9th August, ahead of building a new development at Station Hill.
Lincoln MGT has undertaken a new masterplanning for the £750m district, with priority given to adaptability and resilience in a post-Covid world.
One Station Hill, the 275,000 sq ft office building, will break ground this year. It will adjoin a new 600-unit build-to-rent (BTR) residential community already under way.
Direct access to the station will cross through a new park, leading through to a central public square hosting events including local markets, outdoor cinema screenings and live events. The developer aims for 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 of office space, 1,300 homes, and 95,000 sq ft of new retail and leisure space, and a central two-acre piazza.
Alex Aitchison, director of development at Lincoln Property Company UK, said: “The demolition of the car park signals the beginning of Station Hill’s transformation into a new gateway for Reading. After almost twenty years of discussions by previous developers, we are proud to be the longer-term custodians delivering a truly unique legacy, which we feel is pivotal to reenforcing Reading as the capital of the southeast and accelerating Reading’s deserved city status.”
One Station Hill will be the first office building delivered. The company said that the building includes rooftop amenities with terrace, bar and lounge but that the “game changer” is the direct access to 95,000 sq ft of independent retail, leisure and food and beverage facilities, and the residential community.
The design of the project is being overseen by CallisonRTKL (CRTKL), which forms part of Station Hill’s international design collective. The team also includes Gensler for ONE Station Hill and the future office elements, and LDA on the public realm/landscaping.