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Property Development Reading

Property Development Reading

The Reading property market continues to boom. We found this really interesting article on Berkshire Live about 600 new flats, house and commercial properties.  The article says that the plan to have some affordable housing on the site has now been scrapped!

Plans for a huge new development in Reading now contain no affordable housing after the developer submitted an amended plan. The site is the former Royal Mail Building in Caversham, some say its becoming an eyesore and development is needed.

Hermes Property Unit Trust had submitted plans for more than 600 homes on the site of the empty former Royal Mail depot in Caversham Road.

Reading Property Development
Reading Property Development

Initially, it was proposed the development would contain 658 homes – a mix of studio, one bedroom, two bedroom and three bedroom homes.

The first proposal for the development, called Reading Metropolitan, suggest 97 of the homes would be affordable. However, that has now been pulled and the developer is now proposing not having affordable homes on the site.

Another change is a reduction in size of the tallest building on the site. Hermes proposes this building, which was originally 25 storeys, now be reduced by nine metres to 24 storeys.

The developer also proposes an increase in office space on the land, from 16,674 square metres to 19,370 square metres.

Letters have been sent by Reading Borough Council to people living nearby explaining the proposals.

However, the Bell Tower Community Association has not been persuaded by the changes, and has confirmed it will fight the plans.

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The full article can be found here: https://www.getreading.co.uk/news/property/plans-huge-600-home-development-18633134