Neighbour opinions are divided over the transformational project that could turn The Oracle in Reading into a place to live for the first time.
Neighbours are split over a plan that could turn The Oracle shopping centre in Reading into a place to live for the first time, with Reading Borough Council set to decide tonight (Wednesday, December 3).
The Oracle has been the town's main shopping, leisure and eating destination since it opened in 1999. Mall owner Hammerson is proposing to demolish the Vue cinema building and replace it with three towers, and to partially demolish the former Debenhams building across the River Kennet to create two towers.
The five towers would contain a total of 436 flats, with 218 flats being created on either side of the river. A new cinema and restaurant are included for the south-of-river side, but demolishing the Vue will still mean a net loss of four restaurant units.
Some residents welcomed the plan on social media. Joao Boonalho said: “This is excellent news, it will provide much-needed housing and extra footfall for the restaurants along the canal.” Others were less positive. John McCormack said: “It can’t be that much of a destination if they are pulling down the Vue along with the restaurants and they can’t fill or repurpose it into retail.”
Concerns have been raised about losing restaurants to make way for flats and about affordability. Emma Flutterfly Walsh said: “I would have preferred new shops not flats. The Oracle isn’t even that great anymore. The rent will not be affordable as prime real estate on the site of a shopping mall in a town centre location.”
The Oracle is currently 97 per cent occupied, but large units such as the former Debenhams and Topman store and the top-floor unit of the former House of Fraser are unoccupied.
All 436 planned apartments would be for rent only. Timothy Booth said: “I’m all for more housing, but you know these flats are going to be overpriced as all hell for their size just because they’re sat awkwardly on top of a formerly famous shopping mall.”
On affordability, 10 per cent of both parts of the site would be designated affordable — a total of 44 apartments at reduced rent levels. That is below the council’s policy of 30 per cent of developments being designated affordable.
The proposals would require the closure of Vue, the Miller & Carter steakhouse and Cote Brasserie. A staff member at Miller & Carter said the restaurant was aware of the project but had not been given timings for any closure. The steakhouse brand opened its second Reading location at the Caversham Rose in October 2022. Cote Brasserie was contacted but only has an automated answering system.
All works are subject to approval by the council's planning applications committee, which will decide on the scheme tonight (Wednesday, December 3).
James Aldridge, Local Democracy Reporter
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