Mall tight-lipped over reports of sale

Moorgarth has declined to comment on reports it is considering selling the Broad Street Mall in Reading.

Property Week has reported a sale is under consideration and Thames Tap understands Moorgarth is in talks with Knight Frank about future options.

Both a refinancing and a sale are believed to be among options under consideration.

The 300,000 sq ft mall is 50 years old this year. It was bought by Moorgarth from Englander Group in 2015.

Since then planning permissions have been gained for a series of major developments.

A bowling alley, mini-golf and darts venue, Bunker Reading, is due to open this year in the basement of the former Argos store along with Really Local Group’s new four-screen cinema and café on the ground and first floor.

However, a number of permitted schemes have been held up by lockdowns.

Permission was granted for a shipping container urban market at South Court in January 2018 and a food hall was consented in 2019 in the former 99p Stores unit next door. A temporary food market was consented last Summer.

Also in 2019, a 101-room Premier Inn with Bar + Block steakhouse was approved for the Moorgarth-owned site of the former Eva’s nightclub in Hosier Street.

And in January this year, detailed consent was granted for 422 flats above the centre.

Although many of its shops are closed, the mall has remained open throughout the current lockdown so that essential retail and the NHS Walk-in Centre can operate.

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