The Prudential expects to submit a planning application in March for the third phase of GreenPark near Reading, which will be predominantly residential.

Bob Radley, director of property development at Prudential said he expected the application to include 600 homes, 300,000 sq ft (27,870sq.m of offices, as well as supplementary retail space and community facilities.

Prudential is also in discussions with rail authorities to develop a new station at GreenPark, to be created on the existing link line between Reading and Basingstoke. If successful a hotel could also be incorporated into its future plans.

Radley says:

"Our thinking on GreenPark has changed, and we are being realistic about future development opportunities. We think residential development will complement, and a station will be benefit to the occupiers of the park."

Radley said Prudential was being 'open minded' about the possibility of selling parcels of land to residential developers, but will probably enter into a partnership arrangement.

"There will be a mixture of residential development, with flats and retail concentrated around the hub of the station" he said. "There will be more conventional homes and landscaping in the body of the park"

The first and second phases have consents for 800,000 sq ft (74,320 sq m) of office space which has yet to be built. Radley said it's 'not impossible' that office development could return on the park this year.

Radley said:

"We are seeing pre-let enquires which is encouraging."

There is just 35,000 sq ft (3,250 sq m) of Prudential-controlled space at GreenPark, which is being marketed by joint agents Knight Frank and Campbell Gordon.