Lincoln MGT reveals plans for £750m Reading Station Hill
Lincoln MGT has outlined the first phase of its plans for Station Hill, Reading, a £750m redevelopment of the gateway site near to Reading’s railway station.
Lincoln MGT is a joint venture partnership between Texas-based Lincoln Property Company and London-headquartered MGT Investment Management.
The company said it had “worked hard with Reading Borough Council to develop a renewed vision for Station Hill”. The first phase of its plans now focus mainly on housing.
Lincoln MGT has outlined the first phase of its plans for Station Hill, Reading, a £750m redevelopment of the gateway site near to Reading’s railway station.
Lincoln MGT is a joint venture partnership between Texas-based Lincoln Property Company and London-headquartered MGT Investment Management.
The company said it had “worked hard with Reading Borough Council to develop a renewed vision for Station Hill”. The first phase of its plans now focus mainly on housing.
It added: “This latest application seeks to revise the first phase of consented residential accommodation to deliver 538 new homes for the private and affordable rental market.
“The new rental homes have been specially designed for this market and will be professionally managed with an on-site maintenance team, concierge and a strong emphasis on communal areas.”
As well as housing, the firm plans to offer around 25,000 sq ft of commercial and leisure accommodation.
The project previously had consent for 930,000 sq ft of offices, 150,000 sq ft of retail and around 475 flats.
Alex Aitchison, director of development at Lincoln Property Company UK, said: “Our ambition for Station Hill is to deliver a best-in-class regeneration project that will create the new gateway that Reading deserves. As a truly mixed-use development, it will become a new town quarter that fuses contemporary living, working, leisure and open community space.
“Our plans seek to tap into the vast potential of this already impressive and ambitious area. We believe that our revised proposals, combined with a phased approach, is the best way to unlock this key site for Reading.”
The company bought the six-and-a-half-acre Station Hill development site from Sackville Developments Reading Ltd (SDRL), a joint venture between Stanhope and Benson Elliot in June 2018.
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