This second most prominent phase of the scheme is thought to be costed at around £120m and consists of the 275,000 sq ft One Station Hill office block, a new public square and a link bridge providing level access from the train station through to the town centre.
Ian Cheung, Managing Director, Southern, at Sir Robert McAlpine, said: “The start of construction on Phase 2 is a momentous milestone for the regeneration of Reading. ”
This 18-storey office block phase will be completed in early-2024.
Meanwhile, contractor JRL Migard is well underway with building the first phase, a new 600-home community, with completion expected before the end of 2023.
Once complete, Station Hill will comprise up to 625,000 sq ft of offices, 1,300 private and affordable homes, and 95,000 sq ft of retail and leisure space, including potential for a 200-bed hotel and later living accommodation, and central two-acre piazza.
Alex Aitchison, director of development at Lincoln Property Company UK, said: “As we continue apace on the first phase of Station Hill, already the largest-ever speculative project in the history of the Thames Valley, this moment marks the start of a new future for Reading.