Hammerson submits 449 home plan for Reading's Oracle shopping centre
Reading’s Oracle shopping centre could be set to add hundreds of new homes as part of regeneration plans submitted by real estate investment firm Hammerson for the site’s eastern quarter.
Along with the 449 rental apartments, the scheme would add new retail, entertainment and workspace, with all commercial areas targeting a BREEAM ‘excellent’ rating.
The plans have been drawn up by architects CRTKL and would be delivered in tandem with Packaged Living, a build-to-rent developer.
Putting sustainability at the forefront, the development would use water source heat pumps to generate energy from the nearby River Kennet. Integrated cycle hubs and pedestrian routes would also be created to encourage the use of sustainable transportation methods.
Read more - Final Oceana House tenancy agreed in Southampton
The number of dwellings has been slightly reduced since the idea was originally floated back in August of last year, when the developer was hoping to create 475 apartments. The new plans have been created following feedback from more than 100 individuals and extensive consultation with the council and local stakeholders.
Harry Badham, Chief Development & Asset Repositioning Officer, Hammerson, said: “These proposals are designed to reinvigorate and reposition The Oracle by introducing sustainable new homes for rent, as well as incorporating new typologies and configurations of commercial space that will provide opportunities for new styles and types of retail, hospitality, services and amenities to enhance the customer experience.”
Mark Woodrow, Joint Managing Director of Packaged Living, added: “We are delighted to be providing much needed housing to the local area. The scheme demonstrates our commitment to deliver properties that are fit for the future, combining high quality finishes with high energy efficiency, low carbon solutions and importantly lower costs for the residents that will live there.”
Read more - £10m green Haywards Heath residential scheme breaks ground
Featured image: Hammerson
