Kier Property and Investec Structured Property have confirmed their joint venture will transform the Reading Gateway site.
As tipped by Estates Gazette in July, the pair have purchased the 20.5-acre site from a private group of international investors for around £30m.
Kier proposes to develop a mixed-use scheme comprising 250 new homes, a hotel and industrial space.
Leigh Thomas, director at Kier Property, said: “Our team, advised by Haslams’ Reading office, has worked extremely hard to make this deal happen and we are very proud to finally confirm this site purchase.”
Plans will be lodged in January.
Lambert Smith Hampton and Mason Partners acted for the vendor.
