Hermes Property Unit Trust is understood to have been selected by Royal Mail Group as the preferred bidder of the 6-acre Reading Metropolitan site.
The former Royal Mail depot site in Caversham Road has outline consent for a 750,000 sq ft mixed-use scheme, with options including 548,959 sq ft of residential buildings, or 371,355 sq ft of offices, as well as a hotel and gym.
Hermes has gone under offer to buy the plot adjacent to Reading Station, for circa £12m.
Savills is advising Royal Mail; Tudor Toone is acting for Hermes.
joanna.bourke@estatesgazette.com
