property 49
Reading Station Hill to be spec built
Benson Elliot Capital Management and partner Stanhope are planning to speculatively develop one of Berkshire’s largest office schemes
The developers recently submitted re-designed plans for the 1.7 million sq ft Station Hill development in Reading and are awaiting planning permission. The Thames Valley Property Forum on September 12 will feature this development as part of the programme and will be presented at the conferences. It will be an excellent opportunity for the property, construction and design sectors to view this scheme in more detail.
New proposals, designed by Allies & Morrison, are for 920,000 sq ft of offices across four buildings ranging form 20 storeys, 300 flats, 60,000 sq ft of shops and a new public square. The existing Garrard Street car park will also be reduced to 800 spaces, with a new leisure development on top of the building. The scheme will become a landmark scheme development in Reading and re-enforce the position of Reading
as the capital of the Thames Valley. Construction could start in 2014 and final delivery planned for 2024.
Phil Irons, partner at Benson Elliot, said recently when interviewed by Estates Gazette: "In the same way that the Spinningfields scheme has been a game changer for Manchester, I think Station Hill has the potential to do the same for Reading." Stanhope development director Jason Margrave also commented: "There have not been any projects of this scale in Reading before. It is going to redefine the area."
Complementing is the Heart of Slough developments which include a major new office scheme at Brunel Place next to Slough Train Station and the WRAtH train connections with the west of England. Bracknell Regeneration Partnership will also showcase with their funders, Legal
Frame up on first spec scheme in Reading for five years
Construction of Reading’s first speculative industrial scheme for five years began on site in April
The scheme, which is being built by Aberdeen Asset Management on behalf of European Fund Clients, will comprise 16 units totalling 47,131 sq ft, and is due for completion in early Autumn 2013.
Neil Seager, partner, is pleased to have won this exciting new instruction and commented “We have been waiting for a number of years now to get our teeth into a new industrial development in Reading. Access 12 is located within minutes of Junction 12 of the M4, with Theale High Street and the train station also being nearby, making it a perfect site for the first industrial scheme in this new development cycle”.
The site was formally occupied by a data centre which became vacant in 2012. “Aberdeen Asset Management asked us to look at the supply of industrial units and it was clear that there was a gap at the smaller end of the market” commented Seager.
“There is a lack of high-quality industrial units on the market; Access 12 will help satisfy demand for smaller units. The scheme is proving
THE BUSINESS MAGAZINE – THAMES VALLEY – JUNE 2013
popular because of its high specification and in particular its proximity to Junction 12 of the M4, and now that construction has started we expect an increased level of interest” comments Eilidh McAllister at Haslams, letting agent for the scheme.
Specification of the units will include electrically operated loading doors, three phase electricity, 6m to 8m eaves height, double glazed windows and generous yards. A number of the units have the ability to incorporate mezzanine floors which can be used for either storage or office accommodation, providing a cost effective and flexible way for occupiers to increase the useable area of a unit. Units from 1,131 to 15,457 sq ft are available to lease.
www.businessmag.co.uk
Details: Eilidh McAllister or Neil Seager 0118-9211515
www.access12reading.com
& General Life Fund and Schroeders Exempt Property Unit Trust, their plans for Bracknell town centre regeneration. Other topics include the exploration of the Thames Valley as Super European Region and the implications for business led by Peter Brett Associates and Barton Willmore.
Confirmed sponsors include Heathrow Airport Holdings, SEGRO plc (developers and owner-manager of industrial and offices units), SDRL (the developers of the old Friars Walk in Reading previously called Station Hill), ISG plc (fit-out and refurbishment specialists), Harrison Clark Rickerbys LLP (lawyers and commercial legal advisers), Peter Brett Associates (development and infrastructure consultants), Hicks Baker (commercial property consultants) and Barton Willmore (planning, design and delivery of planning).
Partners include Estates Gazette (the largest UK subscription weekly in the property sector) Thames Valley Berkshire Local Enterprise Partnership, University of Reading, Reading Post and The Business Magazine.
For booking access www.
ukpropertyforums.com and click on Thames Valley for Delegate Bookings, Exhibition Details and Sponsorship Opportunities or email: info@battle-
associaties.co.uk
Details; Matthew Battle. 07768-377172 Twitter: @tvpf
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