Gensler and Lincoln MGT, a joint venture between Lincoln Property Company and MGT Investment Management, have secured planning to deliver the next 600 homes at the £850m Station Hill development in Reading, Berkshire.
CGI of Gensler and Lincoln MGT’s residential scheme at Station Hill, Reading
The phase, adjacent to Reading Station and the Elizabeth line, will include a range of shops, cafés, restaurants, community space and active ground-floor frontages. The residential scheme will provide lounges, co-working spaces, wellness facilities and roof terraces.
Proposals for Phase 3A include a new landscape-led public space, Station Hill Gardens, which will connect to a network of streets, squares and gardens within the development.
The wider Station Hill masterplan includes approximately 2.5m sq ft of commercial space, with ONE Station Hill alone comprising 275,000 sq ft of grade-A workspace across 15 floors, with wellness amenities, co-working lounges, a rooftop garden and ground-floor retail.
Earlier this year, Lincoln MGT secured a £115m senior debt facility from Fiera Real Estate Debt Strategies to refinance One Station Hill.
John Badman, residential leader Europe at Gensler, said: “The approval of Phase 3A is a pivotal moment for Station Hill and a fantastic achievement for our team.
“Drawing inspiration from Reading’s rich tradition of brick architecture, the design creates a contemporary new neighbourhood where architecture, landscape, community and public life come together. We’re incredibly proud to be playing our collective part in shaping Station Hill as the gateway to Reading.”
Alex Aitchison, UK managing director at Lincoln Property Company, and on behalf of Lincoln MGT, added: “Station Hill is already a thriving neighbourhood, which is making a valuable contribution to the economy of Reading and the wider region.
“The scheme creates hundreds of private and affordable new homes for people in the area as well as delivering a range of additional amenities and enhanced public realm. Station Hill is the front door to Reading and is setting a new benchmark for Reading and the wider Thames Valley as one of the UK’s fastest-growing urban centres in recent years.”
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