Development Partner for Reading's Minster Quarter Regeneration Revealed

Reading Borough Council has chosen McLaren Living to spearhead the £250 million transformation of Reading's Minster Quarter, marking a significant milestone in the project's progress.

McLaren Living envisions an innovative approach, focusing on all-electric, energy-efficient systems and maximising on-site renewable energy generation. The ambitious project aims to introduce over 600 new homes, with 30% allocated to affordable housing across various tenures. Additionally, plans include the creation of 40,000 square feet of commercial space, featuring workspaces, retail outlets, dining options, and a 102-bed hotel to stimulate the local economy.

One of the highlights of the development is the introduction of 'Hexagon Square,' designed as an inviting civic space serving as a gateway to the renowned Hexagon Theatre and a new Studio Theatre. The project also promises to generate numerous local job opportunities post-construction and establish a community hub for hosting various activities.

The Minster Quarter holds historical significance and represents a crucial regeneration endeavour for Reading Borough Council. The 5.2-acre site, formerly occupied by the Civic Centre, will undergo a remarkable transformation into a vibrant gateway connecting Russell Street, the Castle Hill Conservation Area, and west Reading's residential areas.

Reading Borough Council Leader, Councillor Jason Brock expressed enthusiasm saying: “The regeneration of the Minster Quarter 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 desperately needed affordable housing for Reading, high quality public realm and a net zero development, in line with our wider net-zero ambitions. The preferred bidder has come forward with hugely exciting proposals which tick all of these important boxes and more, including more family-sized homes which we know are in short supply in Reading, a brand new civic space as a gateway to a revitalised Hexagon Theatre, which will contribute to its growth as a destination for arts and culture, a new community hub and, through our commitment to social value, around 100 new local jobs post construction.

"The Council has secured this landmark £250 million 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 have sought to secure a prospective partner in McLaren Living who 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, and with the potential to create a landmark destination. I look forward to seeing these exciting plans come to fruition over the coming years.”

Plans aim to cultivate a diverse mixed-use community, fostering a vibrant street scene and providing avenues for shopping, dining, and embracing Reading's cultural offerings. Key elements include the relocation and enhancement of the Charter Market on Hosier Street and the revitalisation of Dusseldorf Way into a scenic boulevard with added green spaces.

This development serves as a focal point within the broader Minster Quarter Regeneration Area, which envisages the creation of a comprehensive mixed-use neighbourhood, potentially accommodating upwards of 1,200 homes. Over the next decade, neighbouring landowners are poised to unveil a series of complementary schemes, further enriching the area's appeal.

Matthew Biddle, the Managing Director at McLaren Living, said: "We are extremely proud to have been selected to deliver Minster Quarter and look forward to working with Reading Borough Council to regenerate this key town centre site.

"Our ambition is to create a new mixed-use neighbourhood which transforms this historic part of the town, bringing new public realm, much-needed new homes, high-quality employment space and enhances the Hexagon Theatre.

"We already have a strong presence in the area, and we are committed to working with local stakeholders to deliver a new community for all and enhance the great town of Reading.”

Moving forward, McLaren Living and Reading Borough Council plan to engage in thorough consultations with the local community and stakeholders, ensuring that the project reflects the aspirations and needs of all involved parties.

As the project progresses, arrangements are being made to accommodate existing occupants like Blue Collar, who manage the Hosier Street Market, until relocation becomes necessary for development purposes.