December 2020
Planning, community and commercial benefits
- Bringing these long-vacant and derelict properties on Friar Street and Market Place back into viable uses
- Creating an initial 100 construction jobs and around 100 new job opportunities in the hotel, the shop units and the refurbished pub
- Attracting visitors and customers to the hotel, restaurant, pub and new shops in this prime town-centre location close to Reading station
- Delivering eight new homes
- Generating an annual £3,900,000 of hotel visitor spending into the local economy
- Adding a new vibrancy and pedestrian links around Town Hall Square and Market Place Square
- Reintroducing two new retail or commercial units and a refurbished pub in the listed buildings
- Achieving energy reductions, a BREEAM rating of Very Good and include sustainable drainage and green roofs.
- Generating in excess of £555,000 per annum of Business Rates from the new hotel, retail units and restored pub, and £15,000 per annum of Council Tax from the new flats.