Development Opportunity FOR SALE in 3–5 Craven Road, Reading, Berkshire

Property Description

Central Reading Development Opportunity – Former Medical Building on Craven Road
Fraser Bond is pleased to present 3–5 Craven Road, a centrally located former healthcare property in the heart of Reading, Berkshire.
The property comprises a period or purpose-adapted building historically used for medical or clinical purposes, extending across approximately 0.28 acres. Buildings of this type typically offer a flexible internal layout, suitable for a range of uses including office, healthcare, or residential conversion.
Positioned within close proximity to Reading town centre and the mainline railway station, the property benefits from exceptional connectivity, including direct access to London via the Elizabeth Line and fast rail services. The surrounding area is characterised by a mix of residential, commercial, and hospitality uses, supporting strong demand for both living and working environments.
Subject to planning, the property presents an excellent opportunity for residential conversion, mixed-use redevelopment, or continued commercial occupation, making it highly attractive to investors and developers.
Area or Size of Property
Site Area: Approx. 0.2764 acres
For Sale: Not openly marketed (off-market opportunity)
Price: POA
Key Features
Former healthcare / medical building
Approx. 0.2764-acre site
Central Reading location
Suitable for residential or mixed-use redevelopment (STPP)
Close to Reading station (Elizabeth Line)
Strong demand from commuter and rental markets
Flexible internal configuration
Price guidance: POA
Location Description
Reading is one of the UK’s strongest regional commercial centres, benefiting from excellent transport links, a thriving business environment, and a growing residential population. The town is a key hub within the Thames Valley and offers direct rail access to London Paddington and the City.
Craven Road is located within walking distance of the town centre and Reading station, placing the property in a highly accessible and desirable location. The surrounding area includes a mix of residential developments, offices, and amenities.
Reading’s continued growth and connectivity make it one of the most attractive investment locations outside London.
Investment Angle
This asset represents a prime Thames Valley redevelopment opportunity:
Central location with excellent transport connectivity
Suitable for residential or mixed-use development (STPP)
Strong demand driven by commuter and professional markets
Opportunity for refurbishment or conversion-led value creation
Positioned within a high-growth regional market
Properties in central Reading with redevelopment potential are increasingly sought after due to limited supply and strong fundamentals.
For further information or to discuss redevelopment opportunities in Reading and the wider Thames Valley, please contact Fraser Bond.
Prime central sites with conversion potential remain highly sought after—early engagement is recommended.