After Artisan Real Estate pulling out from the purchase of reading Gaol, Reading Borough council was awarded a period of exclusivity to prepare a bid. This period has now ended. The council’s policy committee meeting on March 8th gave the council the go ahead to submit the bid.
We understand that Reading Borough Council submitted its bid to the Ministry of Justice on March 15th.
We know no details of the bid, although the council wants an arts and cultural hub at the Gaol. The council is likely to work with a development partner should the bid be successful. This means some of the site probably being used for a revenue generating purpose such as a hotel or housing.