As a property investment company, we follow some clear criteria when selecting locations for our projects. These include apartments that meet both the price and expectations of young professionals taking their first step on the property ladder; homes within commuting distance of London; in areas where exciting regeneration projects are planned or taking place.
Offering housing that is considerably cheaper than the capital, while only being a 22-minute train journey from London Paddington, Reading is home to a number of our UK projects. We’ve enjoyed some great successes in the town, including City Tower, which set a new standard for development and achieved a capital growth of 50% between Q1 2013 and Q4 2015.
Ongoing regeneration in Reading has proved a big draw. Below we share more detail on how Reading has transformed in recent years, as well as what is planned for the future.
Reading station refurbishment
One of the busiest transport hubs in the UK, Reading train station is used by nearly 20 million passengers each year. Over the past ten years the station has gained five new platforms, retail facilities and undergone public realm improvements, which has helped improve the quality of service.
The upcoming launch of the Elizabeth line will take this a step further, increasing the frequency of trains to once every five minutes at peak times and offer direct services to central London. The additional connectivity benefits brought about when the full Crossrail route opens is predicted to increase the value of homes within a 1km radius of the station by 2021.
Attracting big business
A highly skilled workforce, thanks to access to a world-class university, has led to KPMG, Ericson and Virgin Media moving to or expanding in the town in the past couple of years. Reading is also home to multinational businesses in the technology sector, including Microsoft, Cisco and Huawei, which has helped it gain a reputation as the ‘Silicon Valley’ of Europe.
Things are looking increasingly bright for Reading, which has ambitions to become a smart city of the future. There are also some key projects in the works that will further transform the town.
The planning application was submitted for Vastern Court in April 2020, which will encompass up to 950 homes, commercial space, a hotel, a gym and retail units. If approved, the Reading Metropolitan scheme is set to deliver high quality one, two and three bedroom apartments, as well as a community facility, health centre, office and retail space. Set for completion in 2021, Thames Quarter is a purpose-designed build to rent scheme made up of riverside apartments.
GRE Assets has several residential projects in Reading including City Tower, Chatham Place, Addington Court and Aviator Place.