Linking into the existing core and extending the high street to the west, Chatham Place is a major part of the Council’s Reading City 2020 vision. Muse secured outline approval for an overall development of 740,000 square feet on seven acres.
The first phase of 561,800 sq ft of development was completed in 2009. This included a 590 space multi-storey car park and two residential blocks delivering, respectively, 96 affordable homes for Catalyst Communities Housing Association and 211 apartments for private sale. Both blocks are set in an extensive area of soft and hard landscaping which includes space dedicated for both public and occupier use. There is also 10,000 sq ft of retail/ leisure space.
The second phase, Chatham Square, was completed in 2016, delivering a further 178,200 sq ft of development, comprising184 one, two and three bed apartments in two residential buildings of 9 and 19 storeys with ground floor retail space and a public urban garden. Chatham Square includes the tallest residential building in Reading.
PlanetBuilt to ‘Park Mark’ accredited standards, the multi-storey car park incorporates an intelligent lighting system to reduce energy use and demand.
PeopleThe scheme's mix of uses has helped create a vibrant new destination for local people and visitors alike, with residential, retail, commercial, leisure and community facilities situated around new public spaces and streets.
ProfitMuse raised £34.5 million through the Royal Bank of Scotland to finance the first phase then, after re-paying the senior debt in full, purchased RBS’s shareholding in the joint venture company established to finance the project.
Leisure operators include Studio 42°, a yoga studio, and MOTI, the UK’s top running and triathlon store.
The first phase residential element secured a Building for Life 2010 award (silver standard) and was highly recommended