A £500 million mixed-use development next to Reading Football Club’s Madejski Stadium has been approved.
The Royal Elm Park scheme, which will include a convention centre, hotel and ice rink has been given the green light by Reading Borough Council.
Subject to final planning requirements, the development will include more than 600 one, two and three bedroomed homes, multi-storey car park and public square and park.
Nigel Howe, chief executive of Reading FC, said: “This is a huge boost for Reading, and will deliver a step change in the city’s ability to host international, large-scale conferences and events, which the business community here has long sought.
“But the scheme delivers more than that. It delivers a new and reinvigorated destination for businesses and the Reading community, and will significantly enhance the match-day experience for our supporters, the driving force behind the Club’s success.
“Royal Elm Park is emblematic of the city’s vision for the future, and will play a significant role in driving new and enhanced inward investment, which will underpin the regional economy going forward.”
Praphant Asava-aree, director of RFC Prop Co, added: “Royal Elm Park is a bold and ambitious scheme, and is a tangible demonstration of our vision for the Thames Valley.
“Today, that vision becomes a reality. Creating 1,000 new jobs, new economic and social infrastructure for the benefit of the community and regional businesses, enhanced facilities for Reading FC’s supporters, and new and improved transport links, is a testament to the vision of the City and the Club, and we are delighted to be playing our part in stimulating further investment into this vital part of the UK.”
Nigel Horton-Baker, executive director, Reading UK CIC, said: “The Royal Elm Park scheme will make Reading an international centre for conferences and major events, attracting new business to the town and providing a major new resource for the many businesses and organisations already based here.
“The scheme will also provide 2,000 jobs through the construction and operation phase and Reading UK CIC will be working with Reading Football Club to maximise the opportunities and benefit to local people and in particular those living in South Reading near the development.”
Construction will start next year with completion expected in 2023.