McLaren Living’s new plans build upon the previous consent for 400 homes and a hotel by previous developer Moorgarth before the Covid pandemic.

The revised plan will see the redevelopment of the southern part of the 4.6-acre site to include over 600 ‘tenure-blind’ market and affordable build-to-rent homes.

Plans also include 15,000 sq ft of office, retail and leisure uses, and public realm improvements to Broad Street Mall.

The plan goes in just weeks after McLaren Living was also named as Reading Council’s preferred bidder to bring forward the neighbouring £240m Minster Quarter scheme in the city.

McLaren Living said the revised Broad Street Mall scheme would integrate with the emerging Minster Quarter redevelopment, enabling rejuvenation of the wider town centre in line with the Council’s aspirations.

At Broad Street Mall, McLaren Living plans to build four residential towers.

These will be strategically positioned to the south of Broad Street Mall, tracing the Dusseldorf Way link between the Hexagon and the Minster and integrating into the wider Minster Quarter masterplan.

These buildings will incorporate the use of photovoltaics and air-source heat pumps and each apartment will achieve a minimum EPC rating of B.

The development is also seeking to achieve a BREEAM Excellent rating in relation to the non-residential parts of the buildings.

Oliver Westray, development director of McLaren Living, said: “Our new plans focus on regenerating Broad Street Mall and delivering an enhanced and reinvigorated mixed-use neighbourhood, one which will deliver on the council’s plans for the area and align with its vision for the town.

“We look forward to continuing to work in partnership with Reading Borough Council to deliver our vision for the transformation of Broad Street Mall.”