The site is next to the railway station and includes the bus station and a council car park. With the rail line to London to be electrified, Newbury’s viability as a commuter dormitory town is enhanced.
Grainger will work up plans for a residential-led development, funded by private housebuilders. The council and Network Rail will retain ownership of the land.
Pamela Bale, West Berkshire executive councillor for town centres, said: "The plan to improve this site will create a new gateway into Newbury and ultimately bring significant economic benefits for the whole town. It forms a key part of the Newbury Vision 2025 which has already delivered projects such as Parkway, the cinema, and the town centre pedestrian realm. The council look forward to seeing ideas from Grainger for this latest project, which will then be used to consult with the public later this year."
Grainger development director David Walters said: “Newbury is one the best connected towns in the south, with substantial future investment committed by Network Rail and a number of significant commercial schemes in the town already delivered. We believe there are strong prospects for the future in Newbury and we are delighted to be working with both West Berkshire Council and Network Rail on this important project.”
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