A DECISION is due on a project that will transform the Oracle shopping centre.
Three years ago, plans emerged to add more than 400 apartments to the centre, which would be the biggest change to The Oracle since its inception.
A decision on the transformational project will be made by Reading Borough Council’s planning applications committee later today (Wednesday, December 3).
Submitted under two separate planning applications which will be decided together, the project aims to turn it into a place to live for the first time, and would see the Vue cinema and former Debenhams department centre to the east of the centre be replaced with flats.
The towers would contain 218 flats each on either side of the Kennet, while the Vue building could be levelled and replaced with three towers.
A cinema and a single new restaurant would be provided on the ground floor.
The former Debenhams building will be partly demolished to make way for two new towers.
The building has been completely closed since 2023, with Next Beauty & Home closing in August, and Franco Manca and The Real Greek closing in September of that year.
These would be replaced with a ‘leisure unit’, a restaurant and co-working shared office space.
All of the flats will be ‘build to rent’, meaning there will be no opportunities for ownership, with homes being managed by Packaged Living, which has also been identified as the residential provider for the planned Waterfront Square development of 254 flats.
Of the four restaurants contained in the Vue building, two have already closed, with Browns Brasseries closing in April last year and TGI Fridays closing two months later.
Cote Brasserie and Miller & Carter are still open, with Miller & Carter having opened a second restaurant at the Caversham Rose in October 2022.
Matt Burns, the council’s principal planning officer, has recommended it for approval.
His report notes that the project diverges from several council planning policies, such as its restrictions on tall buildings and ‘overdominance’ of one-bed flats totalling 207 units.
On affordable housing, 10 per cent of both parts of the site will be designated affordable, amounting to a total of 44 apartments are reduced rent levels.
Mr Burns said the project would be beneficial overall: “There are considered to be significant public benefits, including the substantial enhancements to public realm areas both on and off site, street-level activation and creating visual interest via new shopfronts.
This would be as well as: “Provision of 436 dwellings towards meeting the council’s housing needs whist providing a high standard of accommodation for future occupiers as well as the range of benefits evidenced by the applicant”
These would be both in terms of “securing diversification of The Oracle to facilitate it to secure its existing and future important role in the overall vitality and viability of the Central Area, and Reading’s role as a key regional centre within the Thames Valley.”
A decision will be made by councillors on Wednesday, December 3.
