The Oracle, Reading

The Oracle
Location Reading, Berkshire, UK
Coordinates 51°27′12″N 0°58′21″W / 51.45328°N 0.97239°WCoordinates: 51°27′12″N 0°58′21″W / 51.45328°N 0.97239°W
Opening date 23 September 1999
Developer Hammerson
Management Hammerson Operations Limited
Owner Hammerson (50%),
Abu Dhabi Investment Authority (50%)
No. of stores and services 108
No. of anchor tenants 2 (Debenhams,
House of Fraser)
Total retail floor area 76,200m²
No. of floors 3
Parking 2,300 spaces
Website www.theoracle.com

The Oracle is a large indoor shopping and leisure mall, located on the banks of the River Kennet on the site of a 17th-century workhouse of the same name in the town of Reading in the English county of Berkshire. It was developed by, and is owned by, a joint venture of Hammerson and the Abu Dhabi Investment Authority.[1]

History

Broad Street frontage

The Oracle takes its name from the 17th century Oracle workhouse built by funds from a local man John Kendrick. This once occupied a small part of the site now occupied by the shopping centre.

In March 1997 Hammerson acquired a 22 acre site of largely derelict and undeveloped land immediately to the south of the town centre. Most of this site was previously occupied by Simond's Brewery (latterly owned by the Courage brewing company) and by the Reading Transport bus depot (formerly the Reading Corporation tram depot). The brewery had earlier relocated to a new site adjoining the M4 motorway, whilst the bus depot was relocated to a location just west of the town centre as one of the first phases of the redevelopment.

Hammerson's strategy was to create a combination of big-name retailers at the new centre, including a number of international retail banners fairly new to Britain. The merchandise mix has strong emphasis on fashion and is slightly higher-end than the average for Reading's main street shops. Peter Cole, the development director for Hammerson said "We were looking to bring in a retail mix that would enhance what was already there – we wanted to get the right caliber retailers to suit the slightly higher-end shopping demographic of the area."[2]

Riverside level at night with the River Kennet flowing through

The main shopping malls comprising phase I of The Oracle were opened in September 1999, followed in November by the Riverside restaurants, pubs and cinema that made up phase II. Once phase I was complete, the way was open to relocate the Debenhams department store from its previous location on Broad Street into the centre. This in turn allowed for the redevelopment of the old Debenhams site as phase III of The Oracle, linked to phase I by a bridge over Minster Street. Phase III provided The Oracle with its all-important direct link to Broad Street, and was opened in May 2000 by The Princess Royal.[3]

Although now well-respected and appreciated by local residents, the Oracle caused local controversy when first opened. However, many of the stores within the Oracle did not previously exist in Reading and have substantially improved its status as a shopping destination.

Stores and facilities

The Oracle main arcade

The centre contains 90 shops, including department stores from the Debenhams (136,000 ft²) and House of Fraser (150,000 ft²) chains. A third and larger department store, John Lewis (still referred to locally by its older name, Heelas), is adjacent to the Minster Street entrance but not part of the centre itself. There are also 22 restaurants, cafés and bars along the riverside of the Kennet, and an 11-screen Vue cinema. The Oracle also had a currys store which had rebranded from Currys to Currys.digital to Pc World to a combined Currys PC World store, the combined store has now closed down with Saturday 24 May 2014 being its last day. A number of other retailers have also quit the oracle (Including Yog) due to high rental increases . The Oracle increases Reading's retail footage by one-third, and it has attracted some retailers who would otherwise not have located in Reading.

The Oracle Riverside area, with its restaurants and bars, spans the Brewery Gut, a particularly narrow stretch of the River Kennet. The layout allows space for outdoor tables, and there is granite stadium-style seating and a sail-like canopy. Two bridges have been installed spanning the Kennet, Cooks Bridge, a straight footbridge which links The Riverside Car Park to House of Fraser, and Delphi Bridge, an 'ellipse-shaped' bridge giving access from the Vue cinema to Debenhams.

The Free Form Arts Trust were appointed as the arts agency with responsibility for the appointment and contractual arrangements with artists. Specially commissioned artworks include the Crystal Beacon, a reflective translucent prism by Welsh artist John Gingell that tops off the multistory car park.

The overall centre design concept was created by Haskoll & Co., London. They were called in to design a "retail for leisure" concept, linking the site to a heritage trail around the town.

The Oracle car park and IDR

The Oracle also provides two large car parks providing 2300 spaces. In line with other car parks in central Reading, charges are comparatively high, especially for long term parkers.[4]

Awards

In 2002 Reading was named eighth best town centre in the country.[5] In 2007 the Oracle centre was ranked 16th in a league table of best performing retail centres in the UK compiled by economic analyst Experian. In a separate poll carried out by Verdict, Reading was placed 10th in the table of UK shopping destinations.[6]

References

  1. ↑ "The Oracle, Reading". Hammerson. Retrieved 5 August 2009.
  2. ↑ "The Oracle helps define the future of shopping in Reading" (Press release). ICSC. Retrieved 3 February 2008.
  3. ↑ "The Oracle – Useful Facts". Oracle Shopping Centre Limited. Retrieved 12 February 2008.
  4. ↑ "Drivers boycott town car parks". Reading Evening Post. 22 January 2004. Retrieved 3 February 2008.
  5. ↑ "Reading eighth top shopping hot spot". Reading Evening Post. 7 August 2002. Retrieved 3 February 2008.
  6. ↑ "Battle to stay top of shops". Reading Evening Post. 28 September 2007. Retrieved 3 February 2008.
  7. ↑ "European Awards Presented in Italy" (Press release). ICSC. Retrieved 3 February 2008.
  8. ↑ "Loo of the Year Awards: Previous Winners" (Press release). loo.co.uk. Retrieved 3 February 2008.
  9. ↑ "Shopping centre wins gold award". Reading Evening Post. 20 December 2007. Retrieved 3 February 2008.

External links

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