ONE Station Hill reaches practical completion in Reading

The joint venture between Lincoln Property Company (‘Lincoln’) and MGT Investment Management (‘MGT’) has announced the practical completion of ONE Station Hill, a 275,000 sq ft best-in-class workspace in the heart of Reading.

ONE Station Hill – Phase 2 of the Station Hill development – is already more than 40 per cent let with international businesses PepsiCo, PwC and NewFlex occupying over 115,000 sq ft of prime office space. It is anticipated that tenants will start to move into the building in the early part of 2025.

Lee Fearnhead, Director of Construction for UK & Europe at Lincoln Property Company, and on behalf of the Lincoln MGT JV, said: “ONE Station Hill is Lincoln MGT’s flagship project in the UK and reaching practical completion is a phenomenal achievement.  The building is already setting a new standard for Grade A office development in the UK.  It demonstrates the positive impact town centre regeneration can have when executed in a way that is sensitive and considerate of its surroundings.  It is also a clear response to the significant amount of infrastructure investment which has been made in Reading in recent years.

“The building itself has been beautifully designed and meets the highest standards of efficiency and sustainability, not just in the UK but globally.  It is a ‘destination’ workspace which sits in the wider placemaking of the development, surrounded by two acres of public space open for the enjoyment of anyone living and working in Reading.  Given the strength of occupational demand, Lincoln MGT are looking forward to progressing next steps to deliver the next phase of Station Hill.”

Mark Taylor, Managing Director, Commercial, Sir Robert McAlpine, said: "Reaching practical completion of ONE Station Hill marks a significant milestone in the transformation of Reading's town centre.  This landmark development not only sets a new standard for Grade A office space but also exemplifies our commitment to creating sustainable and innovative workspaces.  The collaboration between Lincoln Property Company and MGT Investment Management has resulted in a project that will greatly benefit the local community and businesses.  We are proud to be part of this journey and look forward to seeing the positive impact ONE Station Hill will have on Reading's future.”

ONE Station Hill is part of the wider 2.5 million sq ft mixed use Station Hill development adjacent to Reading station that is set to include 1,300 homes – including the Phase 1 Ebb&Flow residential development completed in the summer of this year – around two acres of public realm, 95,000 sq ft of lifestyle-led retail and leisure space and up to 625,000 sq ft of office space.

As well as being an all-electric building using air source heat pumps and extensive smart building technology, ONE Station Hill targets BREEAM ‘Outstanding’ certification, a Platinum ‘WELL’ score and an EPC ‘A’ rating.  Designed by leading international architect Gensler, the development offers a wide range of facilities aimed at encouraging a positive, healthy work lifestyle for occupiers—including rooftop yoga.  

The development will shortly connect Friar Street to the Station via its pedestrianised public realm and a new link bridge, creating a safe and enjoyable welcome to the town.  In addition, the Station Hill JV has commissioned public works of art worth more than £1.5 million which are due to be installed and unveiled across the site in the coming months.