FOR SALE FREEHOLD Bracknell Eastern Road Business Centre Bracknell, Berkshire RG12 2UP

Transcription

1 FOR SALE FREEHOLD Bracknell COMMERCIAL BUILDING / LAND WITH VACANT POSSESSION BUILDING APPROX GIA: 18,586 SQ FT (1,727 SQ M) SITE APPROX AREA: 0.85 ACRES APPROX SUITABLE FOR REDEVELOPMENT (SUBJECT TO PLANNING) Eatern Road Buine Centre Bracknell, Berkhire RG12 2UP

2 Opportunity Highlight Self-contained office/commercial building totalling 18,586 q ft (1,727 q m) available with vacant poeion. Site approximately 0.85 acre. Suitable for reidential development (ubject to ecuring the neceary conent). The property i located in an area of Bracknell identified by Bracknell Foret Council a uitable for high denity reidential redevelopment. Exiting on-ite parking for 51 car. Good acce to town centre amenitie. Adjoin new reidential ite with planning conent granted. Freehold with vacant poeion. Seeking offer in exce of 1,250,000 (one million two hundred and fifty thouand pound) plu VAT at the applicable rate. Note; It i for the buyer to put the cae for VAT exemption.

3 Bracknell Location Bracknell i trategically located in the heart of the Thame Valley, approximately 32 mile wet of Central London, 9 mile outh of Maidenhead and 11 mile outh eat of Reading. The town i located approximately 6 mile from both the M4 (Junction 10) and M3 (Junction 3) motorway with direct acce via the A239 (M) and A322 dual carriageway repectively. The M25 motorway i approximately 12 mile to the eat and provide acce to Heathrow and Gatwick airport, a well a the wider motorway network. By rail, Bracknell mainline railway tation provide a regular direct ervice to London Waterloo, with an approximate fatet journey time of one hour. Property Location The Eatern Road Buine Centre (alo known a Racal Houe) i ituated between London Road and Eatern Road, to the eat of Bracknell town centre. Acce to the property i via Eatern Road which i an adopted road. There i vehicular acce to the ite over a private road (in eparate ownerhip) to the eatern boundary. TOWN CENTRE REGENERATION The Bracknell Regeneration Partnerhip (Legal & General and Schroder) in conjunction with Bracknell Foret Council have tarted their regeneration of the town centre through a 750 million cheme which will include new home, hop, leiure facilitie and public pace. The cheme ha already attracted M&S for an 80,000 q ft tore, a well a H&M, Primark, Cineworld and a new Waitroe.

4 Exiting Building Decription The Eatern Road Buine Centre comprie two interconnecting buine premie totalling approximately 18,586 q ft (gro internal area). The majority of the property i built over two floor with the ground floor being uitable for office or torage/r&d laboratory/light aembly. The firt floor i fitted out for office ue. Key feature of the property include: 51 car parking pace Mainly open plan floor 3.8m eave ground floor (concrete floor lab to ceiling lab) Ground floor office fitted with raied floor and upended ceiling Workhop/tore of 1,173 q ft with 5.2 eave Site area approx acre ubject to urvey and alignment of northern boundary. Site and acce road Rear yard/parking

5 Potential Reidential Development The land form part of a group of ite ituated between London Road A329 and Eatern Road, to the eat of Bracknell town centre. Thi location wa identified in the adopted Bracknell Foret Borough Local Plan 2002 a a protected Employment Area, but in July 2013 that tatu wa removed following the adoption of the Borough Site Allocation Local Plan - BSALP. The BSALP identifie 3.86ha of land lying between London Road and Eatern Road a a uitable ite for reidential redevelopment, with an etimated developable area of c2.7ha (i.e. 70% of the total ite area). Baed on a net denity of 160 dwelling per hectare, the aumed capacity of the entire ite i 432 dwelling. Thi ite i located within thi allocated area. A number of adjoining ite within the BSALP have been granted planning permiion or are ubject to current planning application a follow: Former Foundation Houe ite: Application ref. 13/00441/OUT: to the eat of the property i a 2.2 acre cleared development ite formerly occupied by Foundation Houe, an office building. In May 2014 outline planning permiion wa granted by Bracknell Foret Council for the erection of 123 reidential apartment on that ite. Application ref. 14/00933/FUL: A ubequent application to vary the term of the outline conent, wa ubmitted on behalf of the propective reidential developer, Redrow Home. That application wa approved by Bracknell Foret Council on 17th April It introduced more flexibility into the outline permiion, whilt maintaining the number of reidential unit and the mean of acce a previouly approved. The revied illutrative layout how the erection of a four-torey reidential block on the Eatern Road frontage, (a per the May 2014 conent), but the three-torey reidential block behind i replaced by a part four, part five-torey building. Future road acce to The Eatern Road Buine Centre from the Foundation Houe re-development ite i hown on the revied illutrative layout. Application ref. 15/00362/REM: On 23rd April 2015, Redrow Home ubmitted a reerved matter application to Bracknell Foret Council, eeking approval for the detailed layout, cale, appearance and landcaping of the propoed reidential development, which Redrow ha branded The Quarter. That application follow the development parameter etablihed by the revied outline planning permiion, in term of the number of unit (123 apartment), and reflect the layout, cale and height of the propoed building, a hown on the earlier illutrative drawing. That application i currently under conideration by Bracknell Foret Council. Avoncrop ite: Application ref. 12/00483/FUL: Full planning permiion wa granted in September 2013 for the demolition of the exiting commercial building on the 1.25 acre Avoncrop ite located to the wet of Eatern Road Buine Centre, and it redevelopment by the erection of 14 x 3 and 4-bedroom houe. Thi development i being undertaken by Belgrave Home Ltd. Application ref. 14/00129/COND: Further detail required by pre-commencement planning condition attached to planning permiion 12/00483/FULL were approved by Bracknell Foret Council in Augut Application ref. 15/00456/FUL: A full planning application for the approval of alternative houe type on the Avoncrop ite, whilt retaining the previouly approved layout and mix of 14 x 3 and 4-bedroom houe wa ubmitted in May That application i currently under conideration by Bracknell Foret Council. Hayley Houe and Apex Houe: Application ref. 13/010565/PAC & 13/01054/PAC: In February 2014, Bracknell Foret Council granted prior approval application in repect of the converion of two exiting Cla B1 office building to the north of Eatern Road Buine Centre - Hayley Houe and Apex Houe - to create a total of 63 x 1 and 2-bedroom reidential apartment under the General Permitted Development Order. Vehicular acce to Apex Houe i hown to be along the exiting acce road from Eatern Road, which alo erve the Eatern Road Buine Centre. Vehicular acce to Hayley Houe i from London Road.

6 1 cycle PD conent to convert lift cycle refue Summit Shelter Subway Shelter Century Court Sub Sta D NO. Eatern Road Buine Centre, Bracknell, Berkhire RG12 2UP Site Plan Showing Eatern Road Buine Centre And It Relationhip To Adjoining Site Houe El Sub Sta Greenwood Houe LONDON ROAD Hayley Houe Apex Houe PD conent to convert exiting tree ub tation pedetrian / cycle path The Braccan exiting tree creening retained amenity area 9 viitor car pace turning head 11 flat car pace pedetrian / cycle path Radiu Court Flat 1 Flat 2 Flat 3 Flat 4 PROPOSED AVONCROP DEVELOPMENT 23 car pace hared acce road pedetrian / cycle path PROPOSED REDROW DEVELOPMENT NORTH Subway 19 car pace 5.5m El Flat 5 Flat 6 Flat 7 Flat 8 EASTERN ROAD 12 El Sub

7 Indicative Plan / Scheme Layout For New Reidential Development A uggeted layout for the redevelopment of the Eatern Road Buine Centre ite ha been prepared and i predicated on the Foundation Houe ite being developed along the line etablihed by the parameter plan that were approved by Bracknell Foret Council under the revied outline planning permiion 14/00933/FUL, particularly the cale of the building and the poition of the internal acce road and pedetrian/cycle link. Plan are available on requet. The illutrative cheme hown for the Eatern Road Buine Centre ite contain a total of 50 reidential unit, a mixture of 1 and roomed unit in a ingle T haped block. Flanking the rear of the T hape are two hared amenity deck, thee deck form the roof of the ground floor ecure car park which alo contain cycle and refue torage facilitie, and which upplement the amenity pace provided by the balconie for the upper floor. On both the Eatern Road frontage and the northern frontage facing into the ite onto the eat/wet pedetrian / cycle path the reidential accommodation i taken down to ground floor level where elf-contained maionette may be incorporated, providing attractive, active frontage and natural ecurity. We are uggeting the block i four torey in height throughout, the ame height a the propoed neighbouring cheme, and in accordance with the parameter plan approved by Bracknell Foret Council for the Foundation Houe ite adjacent. The T haped arrangement of the building aure an adequate et back from the Foundation Houe block and i ufficiently ditanced from the propoed two torey houing on the Avoncrop ite to the wet. The principle of the propoal are very much in line with the illutrative cheme originally ubmitted for the Foundation Houe ite, and contain firt floor roof-top hared amenity deck a the current Foundation Houe propoal, and i therefore an arrangement and denity that i likely to be favoured by the planning department. From our dicuion with the planning department at Bracknell Foret, from our knowledge of the Foundation Houe application proce and end reult, and from conideration of the Council own Local Plan Deign Brief for the area, we believe the illutrative propoal prepared for Racal Houe indicate an appropriate repone to the denity and connectivity required by the Council advior, and would form the bai of a realitic form of development in thi location. Propective purchaer are required to make their own enquirie with the local planning department at Bracknell Foret Council on

8 to convert D NO. Eatern Road Buine Centre, Bracknell, Berkhire RG12 2UP Indicative Plan / Scheme Layout For New Reidential Development Greenwood Houe LONDON ROAD Hayley Houe PD conent Apex Houe PD conent to convert exiting tree ub tation pedetrian / cycle path exiting tree creening retained amenity area 9 viitor car pace turning head 11 flat car pace pedetrian / cycle path Flat 1 Flat 2 Flat 3 Flat 4 NT cycle 23 car pace cycle refue hared acce road pedetrian / cycle path PROPOSED REDROW DEVELOPMENT 19 car pace lift 5.5m Flat 5 Flat 6 Flat 7 Flat 8 EASTERN ROAD

9 Indicative Plan / Scheme Layout For New Reidential Development Flat 9 Flat 10 Flat 23 Flat 24 hared amenity deck Flat 11 Flat 13 Flat 12 Flat 14 hared amenity deck Flat 25 Flat 27 Flat 26 Flat 28 Flat 15 Flat 16 Flat 29 Flat 30 Flat 17 lift Flat 18 Flat 31 lift Flat 32 Flat 19 Flat 20 Flat 21 Flat 22 Flat 33 Flat 34 Flat 35 Flat 36 FIRST FLOOR PLAN SECOND FLOOR PLAN

10 Indicative Plan / Scheme Layout For New Reidential Development Flat 37 Flat 38 Flat 39 Flat 41 Flat 43 Flat 40 Flat 42 Flat 44 Flat 45 lift Flat 46 Flat 47 Flat 48 Flat 49 Flat 50 THIRD FLOOR PLAN ROOF PLAN

11 Indicative Plan / Scheme Layout For New Reidential Development D NO.

12 Thee indicative plan illutrate how the ite could, ubject to planning, be able to accommodate the following range of reidential unit. Floor Flat type/ (No Peron) Total NIA q m (each flat) Total no of Flat Ground (2) (2) Firt (4) (4) (3) (2) (2) Second (4) (4) (3) (2) (2) Third (4) (4) (3) (2) (2) Total No. Flat 50 Thee are indicative uggetion only and will not form part of any contract or offer. Flat type/ (No Peron) Total no flat Total NIA q m approx (2) (3) (4) Total

13 Tenure The freehold interet i currently held under title number BK and the full extent of the ite i outlined red on the featured Ordnance Survey Plan (for identification purpoe only), and i old ubject to, and/or with the benefit of any right of way, eaement or retriction which may exit, whether or not mentioned in thee particular.

14 Service We undertand that main upplie of ga, electricity, water and drainage are available to the ite, but no invetigation have been made a to the uitability or extent of thee upplie for future development of the ite. Energy Performance Certificate (EPC) Following third party aement, the energy rating for thi property ha been graded a 19 D. A copy of the EPC i available in the data room. Method of Dipoal The property i for ale freehold. Offer to be on an unconditional bai. Subject to planning offer are unlikely to be conidered. Term Seeking offer in exce of 1,250,000 (one million two hundred and fifty thouand pound) plu VAT at the applicable rate. Note; It i for the buyer to put the cae for VAT exemption. Data Room Further information on the ite and property can be found via a dedicated client data room. For acce to the data room pleae leigh.thomon@hurtwarne.co.uk or call on

15 Viewing The property may only be inpected trictly by prior appointment through the ole elling agent Hurt Warne. A number of open day will be held and the date of thee will be communicated to potential purchaer on requet. Propective purchaer hould be aware that inpection are made entirely at their own rik and no liability i accepted by the Vendor or their agent. Contact Peter Richard HW Woking office peter.richard@hurtwarne.co.uk Steve Barrett HW Fleet office teve.barrett@hurtwarne.co.uk SUBJECT TO CONTRACT Price & rental are ubject to VAT where applicable Mirepreentation Act: Hurt Warne and their joint Agent, where applicable, for themelve and for the vendor or leor of thi property for whom they act, give notice that (i) thee particular are a general outline only, for the guidance of propective purchaer or tenant, and do not contitute the whole part of an offer or contract; (ii) the agent cannot guarantee the accuracy of any decription, dimenion, reference to condition, neceary permiion for ue and occupation and other detail contained herein and propective purchaer or tenant mut not rely on them a tatement of fact or repreentation and mut atify themelve a to their accuracy; (iii) no employee of the agent ha any authority to make any repreentation or warranty to enter into any contract whatever in relation to the property; (iv) price/rent quoted in thee particular may be ubject to VAT in addition; and (v) the agent will not be liable in negligence or otherwie, for any lo ariing from the ue of thee particular. Code of Practice for Commercial Leae - The Code of Practice on Commercial Leae in England and Wale recommend you eek profeional advice before agreeing a buine tenancy. The Code i available through the webite Our Leatherhead, Fleet, Woking & Redhill regional office cover Kent, Surrey, Hamphire, Berkhire & the South Wet M :V4_L/RG12 2UP/ Kington Road, Leatherhead, Surrey KT22 7TU T E leatherhead@hurtwarne.co.uk Victoria Houe, Albert Street Fleet, Hamphire GU51 3RJ T E fleet@hurtwarne.co.uk Elizabeth Houe, Duke Street, Woking, Surrey GU21 5AS T E woking@hurtwarne.co.uk Abbey Houe, 25 Clarendon Road, Redhill, Surrey RH1 1QZ T E redhill@hurtwarne.co.uk