Investment continuing to flow into Reading
Despite the pandemic, Reading continues to be attractive to investors.
Property investors AEW continue to grow their investment in Reading town centre, according to UK Property Forum, with the acquisition of the blocks on the corner of Friar Street and Station Road. They have already acquired properties on Broad Street and are reputed to be purchasing Broad Street Mall.
Farleigh has secured a £4.5 million funding package to support a new residential scheme on London Road to develop 21 one, two and three-bedroom apartments (pictured below). Work on the scheme has commenced and it is due to be complete by May 2023.
Just 3 apartments (of a total 535) remain for sale at Berkeley’s prestigious Huntley Wharf riverside scheme, opposite Readng Gaol. The scheme has been very attractive to international investors, despite the pandemic. Ben Ivey, Sales & Marketing Director, Berkeley Homes Oxford & Chilterns comments: “We are delighted with how quickly the properties at Huntley Wharf have sold. In spite of the pandemic, the build programme has remained on track and the sales have been consistent, with many investors recognising the capital growth potential of investing in such a strong economic hub”.
Reading Borough Council has been awarded £25,000 to help create a long-term housing regeneration plan that will set out the exciting opportunities to replace and upgrade its existing properties and estates .
Residential property developer King's Oak has purchased Great Brighams Mead on Vastern Road from McKay Securities for £19m. Great Brighams Mead was developed by McKay as an office building, but has received planning permission for conversion into 110 apartments and will be sold with vacant possession.