Plans Unveiled for 236 Riverside Flats in Reading

A huge riverside office in Reading could be demolished to make way for more than 200 flats.

2 Norman Place on Vastern Road, opposite the station, used to house Covea Insurance and has been closed since the 2020 pandemic. Plans to replace it emerged in 2023 after a sale negotiated by the Vail Williams agency.

The buyers call the scheme 'Waterfront Square'. Developers initially wanted 254 flats but scaled the plan back to 236 during planning.

The proposal is for a U-shaped building made of six interconnected blocks, from 11 storeys on Vastern Road to five storeys on the river bank. All flats would be build-to-rent and managed by Packaged Living. There would also be a commercial unit facing a public square with river views.

A decision is due at Reading Borough Council's planning applications committee next week, with councillors set to decide on Wednesday, November 4.

Jonathan Markwell, the council's principal planning officer, recommends approval subject to a legal agreement setting out obligations and financial contributions. He notes the affordable housing offer falls short of the council's 30% policy.

Instead, 24 flats would be available at affordable private rent levels, making up 10.17% of the development. These would be two three-bed, 11 two-bed and 11 one-bed flats.

Mr Markwell's report states: "This is welcomed in the context of the scheme viability demonstrating that a nil contribution could be justified.

"The remaining 212 flats will be Build to Rent units, with an appropriate mix of sizes, including sufficient family-sized three-bedroom units."

The market element would be 10 three-beds, 99 two-beds, 81 one-beds and 22 studios.

The council has asked for a contribution at a maximum of £8.5 million (£8,501,690) so affordable homes can be provided elsewhere in the town.

Parking would be limited to 18 car spaces, including three wheelchair-accessible spaces (two reserved for affordable units). All spaces would have electric charging points, with two set aside for a car club. There would also be 132 bicycle parking spaces.

You can view the application by typing reference PL/24/0958 into the council's planning portal.

James Aldridge, Local Democracy Reporter