Changes are on the way at the prime shopping and eating destination in Reading.
The Oracle has been the destination for shopping and leisure since it opened in 1999.
In recent years, the centre has undergone major changes, primarily the closure of the House of Fraser and former Debenhams department stores.
And yet more changes are on the way…
Earlier this year, Reading Borough Council approved a plan to transform The Oracle into a place to live for the first time.
The project, submitted by its owning company Hammerson, will see a total of 436 apartments to the site, enabled through the partial demolition of the former Debenhams department store and complete demolition of the Vue Cinema building.
The project is split, with 218 flats being delivered at the former Debenhams north of the river Kennet, codenamed Yield Hall Place 1, and the Vue building south of the river, codenamed Yield Hall Place 2.
The development will lead to the loss of the cinema and five restaurant units, including the existing Miller & Carter and Cote Brasserie restaurants.
But it is likely to take years for the existing businesses to close and the construction to be completed.
The transformation of the former House of Fraser has just been completed with the opening of Zara on Friday, May 1.
Furthermore, it has been indicated that the development will be undertaken in phases, with work beginning on Yield Hall Place 1 first.
The entire building has been closed since September 2023.
Work is expected to take place on Yield Hall Place 2 later, as Vue, Miller & Carter and Cote all remain open.
Before construction can start, Hammerson must sign a section 106 legal agreement with the council.
This agreement will involve the payment of millions of pounds to the council for infrastructure and the impact on local services, including roads, education and social care services.
In a report to the council’s planning applications committee, an officer stated that Hammerson is expected to pay an affordable housing contribution of between £7 million and £8.6 million.
It is likely that Hammerson will provide an official statement once the agreement is signed and work can begin.
The company announced that TK Maxx and Hollywood Bowl would replace the House of Fraser store in December 2023, and a similar announcement is expected for the latest project.
In other updates, a ‘Balloon Bar’ opened at the pop-up area at The Oracle Riverside after a long hiatus, following the flooding of an Apre Ski-style bar in January 2024.
Separately, the company has applied to remove existing rooftop safety lines and handrails and replacement with rooftop safety rails and installation of fixed ladder at the Holybrook Building.
This contains the former House of Fraser, all the restaurants and stores north of the Kennet, with the exception of the former Debenhams building.
You can view this application by typing reference PL/26/0573 into the council’s planning portal.
