A £500m development adjacent to Reading Football Club’s Madejski Stadium has been approved by Reading Borough Council.

The development will comprise a 28,000 sqm convention centre, hundreds of new homes, significant new public space, an exciting mix of high-quality retail, leisure and hotel space, all of which will be supported by a substantial investment in public transport for both match and non-match day visitors.

Nigel Howe, Chief Executive of Reading FC, said: “This is a huge boost for Reading, and will deliver a step change in the city’s ability to host international, large-scale conferences and events, which the business community here has long sought. But the scheme delivers more than that. It delivers a new and reinvigorated destination for businesses and the Reading community, and will significantly enhance the match-day experience for our supporters, the driving force behind the Club’s success.”

The centrepiece of the 15.5 ha scheme will be a new landmark 28,000sq m convention centre, called The International, it will host a wide range of events, concerts, conferences, leisure pursuits and community uses, and will become the largest dedicated conference venue in the south of England with a capacity of 6,000. It will also deliver a new ice rink, which will be made available for both leisure use and competitive sport.

Royal Elm Park will also deliver more than 600 new homes with a mix of one, two and three bedroom homes that include dedicated resident parking and extensive landscaping.

It will create more than 1,000 new jobs once development work is complete in 2,000 sqm of new retail, leisure and restaurant facilities.

Crossrail services will offerinew direct links to central and east London from 2019 and the potential for enhanced international links should Heathrow Airport’s third runway be approved in the Autumn.

Nigel Horton-Baker, Executive Director, Reading UK CIC, said: “The Royal Elm Park scheme will make Reading an international centre for conferences and major events, attracting new business to the town and providing a major new resource for the many businesses and organisations already based here.

“The scheme will also provide 2,000 jobs through the construction and operation phase and Reading UK CIC will be working with Reading Football Club to maximise the opportunities and benefit to local people and in particular those living in South Reading near the development.”

Subject to completing the final planning requirements, construction is planned to commence in early 2018, with The International operational in 2020. Final completion is expected in 2023.