Reading Borough Council has approved McLaren Living and AEW’s redevelopment plans for Broad Street Mall in the town centre.
The major town centre regeneration scheme by the BtR specialist and one of the world’s largest real estate investment and asset managers builds upon a previous consent and will deliver a significantly enhanced scheme to bring forward a new vibrant neighbourhood.
The renewed Broad Street Mall will see the southern part of the 4.6-acre site deliver 643 ‘tenure-blind’ market and affordable Build-to-Rent homes, around 19,000 sq ft of commercial space primarily comprising retail and leisure uses, enhanced public realm featuring public art and a range of improvements to Broad Street Mall, incorporating an extension to the existing NHS Walk-In Centre.
The four residential buildings will be strategically positioned to the south of Broad Street Mall, tracing the Dusseldorf Way link between the Hexagon and the Minster and integrating into the wider Minster Quarter masterplan, which is also being brought forward by McLaren Living in partnership with Reading Borough Council.
The development will achieve a high level of environmental performance to minimise its carbon footprint. The buildings will incorporate the use of photovoltaics and air-source heat pumps and each apartment will achieve a minimum EPC rating of B. The development will also achieve a BREEAM Excellent rating in relation to the non-residential parts of the buildings.
The revised masterplan for the redevelopment of Broad Street Mall, designed by AHR Architects, followed substantial pre-application and post-submission engagement and aims to create a landmark destination for the town that celebrates the 20th-century heritage of the urban quarter and reinforces its identity as an arts and culture destination.
Since a previous consent was granted for the site, the plans were updated to reflect the latest policy and legislative standards and market needs, including long-term commercial viability and active street frontages, while still delivering a scheme that integrates with the emerging Minster Quarter redevelopment, enabling rejuvenation of the wider town centre in line with the council’s aspirations.
Oliver Westray, development director of McLaren Living, commented: “Our approved scheme will regenerate Broad Street Mall and deliver an enhanced and reinvigorated mixed-use neighbourhood, one which will deliver on the council’s plans for the area and align with its vision for the town.”
“The approved scheme will allow McLaren Living and AEW to create a renewed and vibrant retail and residential destination, one that will be resilient and sustainable and support the local economy.”
“We look forward to continuing to work in partnership with AEW and Reading Borough Council post-consent to deliver our vision for the transformation of Broad Street Mall.”
Charles Royle, portfolio manager at AEW, commented: “This is a significant milestone for the regeneration of Broad Street Mall, which will create much-needed new homes and green spaces for the community in Reading. Our ambition, along with our partners McLaren Living, is to transform this area into a vibrant, new destination for the town, and the receipt of planning brings us one step closer to achieving that goal.”
