Reading Festival Site Up For Sale

The sixty-five acre parkland which houses the Carling Weekend: Reading Festival has been put up for sale by its owners.

The Mean Fiddler owned Festival has taken place on the Richmond Avenue site since the festival moved permanently to the town in 1971.

Current owners, Caledonia Investments, have put the land on the market with local agents Hicks Baker.

Despite the news, Hicks Baker partner Roger Hicks said that the festivals future was safe, although their is scope to increase Mean Fiddler’s rent due to the fact that ticket sales alone bring the organisers £9 million in revenue a year.

Mean Fiddler have revealed an interest in buying the land, although other parties are reported to be interested, acording to icBerkshire.

 Speaking about the news, Mean Fiddler managing director Melvyn Benn has also reinforced the safety of the festival. He said: "A new owner could put up the rent but only if we keep using it in the future. The Reading festival is as secure and exciting and fantastic whether we use that site or not."

This year’s festival – which takes place from August 24th-26th - will see headlining performances from the Red Hot Chili Peppers, Razorlight and Smashing Pumpkins.