The procurement process has begun to try to find a development partner for Reading’s £220 million Minster Quarter regeneration scheme.
Reading Borough Council has posted its search on the Government website for the contract Minster Quarter Central, a 2.1-hectare site which makes up the bulk of the land, and the award is scheduled to be announced in June 2023.
The advert states the council has £2m Brownfield Land Release Funding available to support the project through demolition of existing structures, new utilities, and road realignment within Phase One (land between the Magistrates’ Court and Hosier Street).
Further funding options are possible including from the Levelling Up Fund.
Uses at Minster Quarter are likely to include more than 600 homes, a hotel, retail, office and leisure and new public realm and outdoor space.
The advert goes on: “The council is looking for a developer partner who can work with the council to achieve its stated key objectives in respect of affordable housing, public realm and net zero carbon development and help regenerate the area and create a lasting legacy.”
The Council intends to dispose of the site through a 250-year building lease . Tenders or requests to participate must be made by 12pm on October 21.
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