Lincoln MGT, a joint venture between Lincoln Property Company and MGT Investment Management, is pushing ahead with the 275,000 sq ft One Station Hill office block, with this latest phase due to be completed in early-2024.

Ian Cheung, managing director, Southern, at Sir Robert McAlpine, said that the project would also create a new public square and a link bridge providing level access from the train station through to the town centre.

Preparatory works have already begun following the demolition of the Garrard Street car park.

Construction on the first phase, a new 600-home community, is also well underway, with the first homes ready to occupy in summer 2023.

Final completion is expected to coincide with the conclusion of works on Phase 2 in 2024.

Planned central office element of Station Hill in Reading

Once complete, Station Hill will comprise up to 625,000 sq ft of offices, 1,300 private and affordable homes, and 100,000 sq ft of retail and leisure space, including potential for a 200-bed hotel and later living accommodation, and central two-acre piazza.