A mass of new regeneration projects in the town of Reading – less than half an hour’s train journey west of central London – promises to make it one of 2020’s property hotspots.
The local council is considering plans to build more than 2100 new homes in the near future, ranged across six developments in the town centre. With towers reaching up to 25 storeys, several of the new projects will come with retail, leisure and office space attached, together with landscaped areas to improve the urban environment.
The largest scheme, Reading Retail Shopping Park, includes up to 950 homes alongside offices, shops, a gym and a hotel. It sits at the junction of Caversham Road and Vastern Road on land currently occupied by retailers.
Also on Caversham Road, the Reading Metropolitan scheme will have 641 apartments and 17 town houses, a community centre, health clinic and shops in a tree-lined square. A third major plan, Thames Quarter, overlooks the river Thames and plans 335 apartments in 23 storey towers, all of them built to let.
Notably, the schemes offer very few parking spots: the council aims to encourage use of public transport, walking and cycling. For example, Reading Metropolitan will provide just 94 parking spaces but 636 cycle spaces. The city as a whole will benefit from the Crossrail development, expected to complete later in 2020.
Reading has set its sights on becoming a leading metropolis of the 2020s.
GRE Assets has three important residential developments in Reading