SDRL – Reading Station Hill Redevelopment – Berkshire - Project Profile
"SDRL – Reading Station Hill Redevelopment – Berkshire - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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Sackville Developments Reading Ltd (SDRL), a joint venture between Stanhope Plc and Benson Elliot Capital Management LLP (BECM), is undertaking the construction of a mixed-use complex in Berkshire, the UK.
The project involves the construction of a mixed-use complex on 2ha of land. It includes the construction of 80,826m2 of office space in four buildings of 22-story, 22,575m2 of retail space, 650 apartments, 8,361m2 of shops, a public square, a temporary event facility, restaurants, cafes, 836m2 of leisure facilities, family leisure facilities within the Friars Walk area, a multi-use leisure facility on the top of the remodeled Garrard Street car park, which will include a five a side football pitch and running track and the complete remodeling and refurbishment of the existing NCP car park.
Allies and Morrison has been appointed as architect, Arup as structural engineer, Hoare Lea as consulting engineer and Davis Langdon & Seah (M) Sdn Bhd as cost consultant, CBRE as the advisor for the project.
Strutt & Parker and Savills have been appointed as leasing consultants for the project and Stanhope Plc will undertake the construction.
In September 2009, outline planning consent for the project was obtained.
In January 2011, Stanhope Plc signed agreement with BECM to develop the project jointly.
In February 2012, the developers held a two day exhibition for the revised plans on the project.
In April 2013, a revised planning application was submitted to Reading Borough Council and the approvals were obtained in December 2013.
In June 2014, SDRL revealed the plans for development of the offices at Building One, which will comprise ground and 16 upper floors with typical floor area of 1,300m2.
The first development of the project is funded via Benson Elliot’s Real Estate Partners III (BEREP III) fund, managed by BECM, and third party investors of Stanhope Plc.
On March 31, 2015, TE Scudder (Carey Group PLC) was appointed as demolition contractor for the project.
In March 2015, Demolition activities commenced.
In January 2016, SDRL submitted the revised plans for the project to Reading Borough Council.
In February 2016, Reading Borough Council approved the revised plans to build a new central square, 450 residential units, and retail and leisure facilities.
In June 2016, demolition works completed on the project site.
Developer is in the process of selecting an investment partner.
The project involves the construction of mixed-use facilities on 2ha of land in Berkshire, the UK.
The US$623 million project includes the following: