The proposal includes plans for 449 rental apartments and 94,000 sq ft of retail, entertainment, and working space.
The plans would transform the eastern quarter of the mixed-use scheme as owner Hammerson looks to “evolve and future-proof” The Oracle.
Hammerson worked with local stakeholders and Reading Borough Council, and the application follows a public consultation with detailed feedback from over 100 respondents incorporated into the proposal.
Hammerson said the development will offer a range of much needed new homes to rent for Reading’s growing population, as well as flexible workspace, entertainment, and leisure spaces including a new cinema.
Harry Badham, chief development & asset repositioning officer at Hammerson, said: “These proposals are designed to reinvigorate and reposition The Oracle by introducing sustainable new homes for rent, as well as incorporating new typologies and configurations of commercial space that will provide opportunities for new styles and types of retail, hospitality, services and amenities to enhance the customer experience.”