Hermes Property Unit Trust has secured planning permission for a redevelopment at St Martin’s Centre in Caversham, Reading.
The Barton Willmore-designed scheme will comprise 40 flats, a restaurant, cinema and shop space.
The end value of the scheme will be in the region of £15m. Plans were unanimously approved by Reading borough council.
Matthew Chillingworth, asset manager at Hermes Investment Management, said: “The consented works will add to the vibrancy and vitality of the existing precinct, and to the Village Centre as a whole, creating an improved shopping and leisure environment, along with new homes and jobs.”
