A masterplan for redevelopment of the London Road Industrial Estate in Newbury is to be drawn up by Avison Young.
The global real estate consultancy is expected to take around five months to come up with a draft masterplan, designed to guide all development within the wider regeneration area including the estate which is owned by West Berkshire Council.
The authority has said it will review the options and then, over the following six months or so, agree the type and number of partnerships it may want to enter into.
Cllr Hilary Cole, executive member for economic development and planning, said: “I’m delighted that we are moving forward with our plans to revitalise this important area of the town and introduce a new northern gateway into the town. Not only will it improve the local area but the new employment space will boost our local economy.
“This is a big project which will take some time to deliver but we have a good track record delivering the ambitions set out in our vision for Newbury.
“It’s fantastic to see work on the new Market Street regeneration begin recently, and other projects including Parkway Shopping Centre and the cinema are now firmly part of the town.
“Now it is time for the London Road Industrial Estate and I look forward to seeing what Avison Young propose for the area.”
© Thames Valley Property No 193 (tvproperty.co.uk)