The owner of Reading’s Broad Street Mall shopping centre has gained planning permission to add new retail space as well as residential accommodation as part of its regeneration project.

Moorgarth Group have gained permission to create a new mixed-use scheme at Reading’s Broad Street Mall shopping centre, which will include approximately 16,000 sq ft of new retail space and some up to 422 residential units.

The residential units will be built both win and on top of the existing shopping centre in four towers varying in height from five to 20 stories.

The ground floor of the new development will be reconfigured to form four new retail units.

Several retailers have committed to the new development including TK Maxx, New Look and Iceland.

A former Poundland store on the site is being converted into a food hall, while a former Argos store on site will be redeveloped as a cinema.

Moorgarth’s managing director Gary Lewis said the redevelopment was an important step towards redeveloping the area.

“This will support the long-term future of the centre, while at the same time act as a catalyst for future regeneration of the area.”

Moorgarth Group chief executive Tim Vaughan said it was the start of a “major regeneration” of the Broad Street Mall area.