A project to replace the John Lewis customer collection centre in Mill Lane has long been teased since the site was closed off at the end of 2021.
Now, the business has revealed that it has submitted plans for an 11-storey apartment block containing 215 flats.
These will provide 20 studios, 91 one-bed, 92 two-bed and 12 three-bed apartments near the town centre.
The final designs have been submitted after two consultation events the John Lewis team held earlier this year.
READ MORE: New designs revealed for 200 flats by John Lewis opposite Oracle shopping centre
Plans include energy efficiency measures, 6000 square feet of indoor amenity space for future occupants and two new external garden spaces.
The submission of the project comes as the John Lewis Partnership is branching out from retail to become a build-to-rent landlord, with all of the 215 apartments provided being for rent only.
Katherine Russell, director of build-to-rent for the John Lewis Partnership, said: “We have worked closely with Reading Borough Council’s planning officers, local residents and organisations to propose a scheme that will benefit residents and the wider community by transforming a disused industrial site into a thriving rental community.
“By revitalising brownfield land we have a fantastic opportunity to provide a significant number of homes which can help alleviate some of the growing pressure on Reading’s housing market.
“These will be homes not only developed by us, but managed by us, meaning we can offer quality service and a guarantee that homes will not be sold off, as so often happens in the rental market.”
The John Lewis team have touted that 10 per cent of the flats provided will be made affordable at the Reading Local discount rate for rent.
The current market rate for a one-bed flat in Reading is £950, with the local affordable rent level at £665.
However, the 10 per cent affordable allocation is still below the council’s requirement of 30 per cent of each development over 10 homes being affordable.
While the plan has been submitted, it is not available for public view as it has not been validated by the council yet. Once that has been done, an application number will be generated allowing the public to view the plans.
The former customer collection centre is featured in the Reading Local Plan Partial Update, where it is suggested as a location for around 200 homes.
The site is currently allocated as an ‘extension’ to The Oracle providing possible retail or parking space in the Local Plan adopted in 2019.
However, the Partial Update acknowledges that the site could be better used as a place for housing.