One Station Hill is part of a major regeneration project near Reading's rail station.
The wider regeneration scheme will also provide 1,300 homes to rent, 95,000 sq ft of retail and leisure space and 625,000 sq ft of office space, according to developer Lincoln MGT.Until the acquisition, the £500m redevelopment had been dogged with delays.
The land was previously owned by Sir John Madejski, the former owner of Reading FC, before being sold to Sackville Developments in 2013.
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