A company called Mapledurham Properties has an embryonic project to build hundreds of apartments near the town centre by replacing existing offices and flats.
Sapphire Plaza is an office building in Watlington Street that is listed as permanently closed.
It is situated at the Kennet riverside, in walking distance to The Back of Beyond, The Thirsty Bear and The Lyndhurst pubs.
The project would involve the demolition of Sapphire Plaza and Royal Court, a block of 35 flats, to make way for between 320 and 450 apartments.
These apartments would be contained within two large multi-storey blocks.
The tenure of these new homes would be split into traditional rented accommodation and the ‘co-living’ concept.
Information provided by Stantec, one of the planning consultants appointed by Mapledurham Properties, states the current concept would be to build 338 apartments.
Of those, 216 flats would be designated as ‘co-living’, whereby future occupants would share facilities such as laundrettes, office space, a gym, a cinema and a bar.
The first purpose-built co-living scheme for 266 flats was approved to replace Greyfriars House by Reading Borough Council’s planning applications committee in April.
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The remaining 122 flats would be built-to-rent, with no prospect of ownership for tenants.
The embryonic plans have emerged as Mapledurham Properties is seeking for Sapphire Plaza and Royal Court to be allocated for development within the council’s Local Plan partial-update.
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A pre-submission draft of the partial-update that was published last November states that Sapphire Plaza is being considered for residential development, although for significantly less apartments than Mapledurham Properties is seeking.
The draft states that Sapphire Plaza would be suitable for 50-74 dwellings.
It also states that any development should ensure appropriate back-to-back separation from existing flats, and should address air quality, noise impacts and the issue of contaminated land that could from any redevelopment of the site.
The council’s suggestions for Sapphire Plaza can be found by searching for policy ‘CR14z’ in the draft.
Mapledurham Properties submission for the site were published last December.
A newer version of the draft submitted to the government’s planning inspectorate in May maintains that Sapphire Plaza would be suitable for 50-74 dwellings.
It is understood that an inspector has been appointed to assess the Local Plan partial-update.