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THE NEW owner of Reading Gaol has reiterated his plans to turn the site into a museum, art gallery, and hotel.
Businessman Channing Bi bought the gaol from the Ministry of Justice fro £7m in back in January, has said that he hopes to turn the site into a hotel, with part of the area earmarked for a museum and art gallery.
Mr Bi conducted a meeting with a number of key members on Saturday, October 26, including Reading Central MP Matt Rodda, and also conducted his first television interview since taking over the site.
During an interview he said that local government “support the project” and estimated that if he were accepted for planning permission, work on transforming the gaol would take just two years at a cost of around £100m.
Planning permission would be complicated by the condition that some parts of the former prison.
He confirmed that there were no plans to subsidise the cost of the project with a loan, or by building apartments on the site, explaining: “We have other businesses which would support this project.”
He also confirmed that Create Escape, the artwork spray-painted onto the gaol’s exterior wall by graffiti artist Banksy, would remain in place, saying: “it is art.”
Matt Rodda said: “We want to see investment in the arts on this site, though his plans are in a relative early stage.
“I’ve focused on underlining to him is the importance of working closely with Reading Borough Council and English Heritage to look at some very sympathetic work on the site so that the maximum amount of arts and heritage potential can be gained from it.”
The update comes just weeks after temporary plans to use the gaol as a practical firearms training site by Thames Valley Police were shelved.
Mr Bi founded the Ziran Education Foundation, for which he has also acted as director since 2018.
It is owned by Founders Base Development, of which Mr Bi is also listed as the director.
He is among the directors of five other companies as listed with Companies House–many of which are property developers–including Golden Door Financials.
The Ziran Education Foundation has since registered a new address, updating its previous base of operations in Colchester, to The Recenter on Forbury Road, Reading– the street address of Reading Gaol.
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