KP/Investec SPF – Reading Gateway Mixed-Use Development – Berkshire - Project Profile

KP/Investec SPF – Reading Gateway Mixed-Use Development – Berkshire - Project Profile

  • March 2018 •
  • 8 pages •
  • Report ID: 4379009
Synopsis
"KP/Investec SPF – Reading Gateway Mixed-Use Development – Berkshire - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "KP/Investec SPF – Reading Gateway Mixed-Use Development – Berkshire - Project Profile" is part of Timetric’s database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary
Kier Property (KP) and Investec Structured Property Finance (Investec SPF) are undertaking the construction of a mixed-use community in Reading, Berkshire, the UK.

The project involves the construction of a mixed-use community on 8.3ha of land. It includes the construction of 175 new homes, a 120-room hotel, 4,645m2 retail warehousing, 12 commercial units, two car showrooms, a pub restaurant, a coffee shop, a drive thru restaurant, a bank and other related facilities.

Lambert Smith Hampton and Haslams Estate Agents Ltd were appointed as marketing consultants and Dentons as Legal Advisors for the project.

Metek has been appointed as the Steel frame subcontractor.

In October 2014, KP and Investec Structured Property Finance (Investec SPF) have agreed an equity joint venture to purchase and fund the construction site.

In October 2015, KP submitted the planning application and in March 2016, received planning consent from the Reading Borough Council.

On October 18, 2016, Kier, the development arm of the Kier Group has exchanged an agreement for lease with Premier Inn to develop a 120-bed hotel, together with a Beefeater Restaurant and Costa Coffee drive thru and enabling works just commenced.

In June 2017, Kier secured US$50.5 million funding for the project.

Construction works are underway and expected to be completed by September 2018.

Scope
The project involves the construction of a mixed-use community on 8.3ha of land on the former Hewlett Packard site at Worton Grange, Reading, Berkshire, the UK.

The US$119 million project includes the following:
1. Construction of 175 homes
2. Construction of a 120- room hotel
3. Construction of two car showrooms
4. Construction of a pub restaurant
5. Construction of a bank
6. Construction of a coffee shop
7. Construction of a 4,645m2 retail warehousing
8. Construction of 12 commercial units
9. Construction of a drive thru restaurant
10. Construction of other related facilities

Reasons To Buy
• Gain insight into the project.
• Monitor the latest project developments.
• Identify key project contacts.
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Country=UnitedKingdom Industry=FoodServices ParentIndustry=Services Date=201803 Publisher=Timetric Price=1000