Sir Robert McAlpine has broken ground on Phase 2 of Station Hill in Reading, the £750m development brought forward by Lincoln MGT, a joint venture between Lincoln Property Company and MGT Investment Management.
Sir Robert McAlpine is delivering the most prominent phase of the regeneration project, which includes ONE Station Hill (the 275,000 sq ft office building), a new public square and a link bridge providing level access from the train station through to the town centre. This latest phase will be completed in early-2024.
Preparatory works have already begun on ONE Station Hill, with the town centre now visible from the train station for the first time in generations following the demolition of the Garrard Street car park, regarded by many as an outdated and unpleasant welcome to Reading.
Construction on the first phase, a new 600-home community, is well underway, with completion expected in Q4 2023 and the first homes ready to occupy in Q2 2023.
Once complete, Station Hill will comprise up to 625,000 sq ft best-in-class office space, 1300 private and affordable homes, and 95,000 sq ft of new lifestyle-led retail and leisure space, including potential for a 200-bed hotel and later living accommodation, and central two-acre piazza. This will deliver a truly sustainable eco-system of blended uses that complement one another, setting a new benchmark for regional regeneration.
Alex Aitchison, Director of Development at Lincoln Property Company UK, said: “As we continue apace on the first phase of Station Hill, already the largest-ever speculative project in the history of the Thames Valley, this moment marks the start of a new future for Reading. Sir Robert McAlpine brings with it over 150 years of experience delivering iconic construction projects and we are delighted to partner with them to deliver a unique, cohesive vision for the people of Reading.
“As the custodians of this special opportunity, we look forward to promoting confidence in the fundamentals of Reading, which is already viewed as a highly attractive destination for overseas capital. Station Hill will lead the way in acting as a catalyst for inward investment into Reading and its drive for city status – creating a true capital of the Southeast.”
Ian Cheung, Managing Director, Southern, at Sir Robert McAlpine, said: “The start of construction on Phase 2 of the Station Hill scheme is a momentous milestone for the regeneration of Reading. Building on our long-standing history of delivering engineering excellence, we look forward to working with Lincoln MGT on this project, which will also bring many opportunities to create social value for the local community.”
