Peveril Securities and Sladen Estates have submitted a planning application for the redevelopment of three office buildings in Reading into an 11-storey build-to-rent (BTR) scheme.
The Napier Court site on Napier road is allocated for housing in the Reading Local Plan 2019, and the joint venture partners’ plans include the demolition of the existing office buildings and the construction of 576 studio, one-, two- and three-bedroom apartments.
The scheme will also feature a rooftop private amenity space and external terrace, a residents’ lounge, gym and workspace, new public realm and a ground floor retail unit. If the plans are approved work will start on site next year with completion expected in 2027.
Ralph Jones, from Peveril Securities, said: “The project team has worked hard to ensure the scheme represents a truly sustainable development that enhances the surrounding area and provides much needed new homes. We have been keen to ensure plenty of space for residents’ bicycles and visitors. The site is well connected to central Reading, offering the ability for residents to walk into central Reading for shopping, work or leisure.
“We have worked closely with our architects to design the development with sustainability and with the theme of Reading’s local buildings in mind. Peveril Securities and Sladen Estates have included 30% affordable units peppered throughout the scheme.”
De Morgan & Co and CBRE are retained as investment agents on the scheme.
