Reading: Lincoln 'in talks' on Station Hill acquisition
12 April 2018
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The Texas-based developer Lincoln Property Company is reported to be in advanced negotiations to buy the Station Hill development site in Reading from Benson Elliot and Stanhope for £70 million.
The five-acre site opposite Reading Station has planning approval for 930,000 sq ft of offices, 150,000 sq ft of retail and 450 residential units.
The £500m mixed-use development site incorporates the area outside Reading Station, Garrard Street car park and the former Friars Walk shopping centre.
The plans, submitted in 2013, include a complete remodelling and refurbishment of the existing NCP car park, the demolishing of Friars Walk and the Western Tower
Station Hill was acquired by Stanhope and Benson Elliott in 2011. Demolition of part of the site began in 2015. The final scheme for Station Hill is said to be the largest mixed-use development proposal for the Thames Valley.
