Reading Borough Council has confirmed McLaren Living as the development partner for the £250m Minster Quarter mixed-use scheme in Reading town centre.
The council has signed a development agreement with McLaren Living, under which the developer will deliver more than 600 new homes, 30% of which will be affordable, as well as 40,000 sq ft of new commercial space, including new workspace, retail, food and beverage space, and a 102-bed hotel.
The 5.2-acre site sits in the heart of Reading and was formerly occupied by the Civic Centre.
Liz Terry, leader of Reading Borough Council, said: “This important milestone marks a significant step forward in the regeneration of the Minster Quarter. The Minster Quarter Central project, being delivered by the council in partnership with McLaren Living represents an unprecedented opportunity to deliver one of the best located mixed-use development opportunities in the UK, right in the heart of Reading town centre.
“Our key aims throughout have been to secure urgently needed affordable housing for Reading, high quality public realm and a net zero development, in line with our wider net zero ambitions. McLaren Living understand and share the council’s vision for the site, with a strong commitment to social value and experience of working successfully in partnership to achieve outstanding quality development quality and with the potential to create a landmark destination.
“The council has secured this landmark £250m investment in economic, environmental and community benefits for the local population. This council’s ethos is to ensure everybody in Reading can benefit from the town’s undoubted success, and the Minster Quarter Central project is the perfect example of how that can be achieved. We look forward to working in partnership with McLaren Living to bring these exciting plans to fruition and deliver lasting benefits for Reading over the coming years.”
Matthew Biddle, managing director of McLaren Living, added: “We are delighted to be partnering with Reading Borough Council to deliver much needed housing and breathe new life and vibrancy into the Minster Quarter, which will build upon our recent planning consent for the neighbouring Broad Street Mall. Our ambitions are to create a re-invigorated retail and residential destination within a mixed-use neighbourhood, providing improved public realm and accessibility to Reading’s cultural Hexagon Centre.
“We look forward to continuing to work with our partners Reading Borough Council, stakeholders and the local community as we progress with our plans to deliver a new town centre quarter.”
