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Sackville acquires new site near Station Hill
It has been reported that the property developer Sackville has bought a new site in Reading next to the Station Hill development.
According to Property Week, the firm has acquired a new 110,000 sq ft area at Friars Walk from fellow housing company Chester Properties.
The £500 million project at Station Hill will be integrated into the fresh area of new land.
During the first phase, a 32 storey tower will be completed, taking up 230,000 sq ft and costing £160 million, plus another 24 storey tower will be built costing £150 million. The second phase will see the construction of two more office (240,000 and 170,000 sq ft) and two residential buildings (87,000 and 154,000 sq ft).
According to the developers, the project is "an impressive 1.4 million sq ft mixed-use scheme that will transform the centre of reading".
In February developers submitted planning application to Reading Borough Council.
The investment arm of Sackville currently holds about £170 million of commercial investment properties in the UK.
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