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S T R A W B E R R Y H I L LN E W B U R Y , R G 1 4 1 J A
2
I N V E S T M E N T S U M M A R Y
• A unique town centre investment and redevelopment opportunity situated in the affluent town of Newbury.
• Newbury is a growing West Berkshire town, undergoing significant regeneration and investment, vastly improving its regional South East status.
• Well located within close proximity to Newbury’s town centre and prime retail/leisure pitch, in addition to two well connected railway stations.
• The property comprises two interlinked office blocks, providing 121,132 sq ft (NIA), arranged over basement, ground and two upper floors.
• Large 3.2 acre site, providing opportunity for a variety of redevelopment and asset management possibilities.
• Available with vacant possession
• Permitted Development Rights have been approved on the property as of 24th September 2018, for conversion to 191 residential units.
• Freehold
• Offers are sought in excess of £15,000,000 (Fifteen Million Pounds), subject to contract and exclusive of VAT.
• A purchase at this level reflects a capital value of £124 psf, inclusive of purchasers costs of 6.73%.
Maidenhead 12 mins
Heathrow Airport 38 mins
Bond Street 54 mins
Liverpool Street 61 mins
Canary Wharf 68 mins
Stratford 69 mins
*Showing fastest journey times
3
L O C A T I O N
Newbury is an attractive market town located strategically along the M4 western corridor. Situated in West Berkshire, the town is 20 miles west of Reading, 27 miles south of Oxford and 60 miles from Central London.
Newbury has evolved into a thriving business location, with several key occupiers choosing to base themselves within the town. These occupiers include Vodafone, Huawei, Canon, Stryker and Sovereign and Harrods.
The town centre provides an active retail and leisure offering, which is enhanced by the draws of Newbury Racecourse. Newbury caters well to its growing living community, with a good selection of schools in the nearby area.
Newbury is one of the most connected towns in the Thames Valley, situated where the M4 motorway (Junction 13) meets the A34, providing the link between London to Bristol and Oxford to Southampton.
Bayer House is just a 7 minute walk from Newbury train station which currently provides links to Reading in a fastest journey time of 18 minutes and London Paddington in 49 minutes. Further connectivity is also provided by Newbury Racecourse Station.
The Elizabeth Line connecting from Reading, will offer further links to central London, the City and the east of London. With Heathrow Airport only an hours drive, Bayer House is superbly located for international travel.
C O N N E C T I V I T Y
The train line between Newbury and Reading has recently been electrified in 2018, providing both faster and more reliable train services between these two destinations, and further connecting Newbury to its surrounding major towns.
The addition of Crossrail through Reading station, (only 22 minutes train from Newbury), provides further connectivity for the town. The Crossrail upgrade will enhance the connectivity of the Thames Valley into Central London, through an estimated 6 trains per hour, and a direct journey time between Reading and Bond Street of 53 minutes.
TRAVEL TIMES FROM NEWBURY
CROSSRAIL TRAVEL TIMES FROM READING
Newbury Town Centre 1.4 miles
M4 (Junction 13) 4 miles
Reading 16 miles
Basingstoke 18 miles
Oxford 28 miles
Southampton 39 miles
Heathrow Airport 46 miles
Central London 60 miles
Reading 18 mins
Maidenhead 41 mins
London Paddington 51 mins
Oxford 51 mins
Basingstoke 55 mins
Swindon 60 mins
A37
A4
A74
A148
A149
A74
A1
A66
A19
A19
Cardi�
Newport
Swansea
Cheltenham
Gloucester
Weston-super-Mare
Torquay
Plymouth
Oxford
Swindon
Milton Keynes
Reading
Maidenhead
Aylesbury
High Wycombe
Basingstoke
Heathrow
Guildford
LONDON
Maidstone
RoyalTunbridge Wells
Chelmsford
Colchester
Ipswich
NorthamptonBedford
Cambridge
Norwich Great Yarmouth
Lowestoft
King’s Lynn
Peterborough
Newmarket
Bury St Edmunds
ThetfordRAF Lakenheath
Stansted
Luton
Leicester
Coventry
Worcester
Telford
Stoke-on-TrentWrexham
Colwyn Bay
Derby
Nottingham
Manchester
She�eld
LeedsBradford
York
Liverpool
Preston
BlackburnBurnley
Harrogate
Middlesbrough
Darlington
Hartlepool
Durham
Newcastleupon Tyne
Edinburgh
Glasgow
Falkirk
Stirling
Aberdeen
Perth
Dundee
Inverness
ExeterPortsmouth
BournemouthBrighton
Eastbourne
Southend-on-Sea
DoverFolkestone
Kingston upon Hull
Scarborough
Grantham
Skegness
Doncaster Grimsby
ScunthorpeBarnsley
Carlisle
Dumfries
Salisbury Winchester
TAUNTON
Newport
M53
M57
M55
M62
M61
M56
M56
M65
M18
M62
M180
M62
M1
A1(M)
A1(M)
M6
M6
M5
M5
M4
M20
A14M1
M1
M1
M6
M11
A1(M)
M25M4
M5
NEWBURY
Chester
Southport
Blackpool
M6
M6
CROMER
SUNDERLAND
Farnborough
M25
M25
M40
M40 A1 (M)
M3
M4
M4
M3
M1
M1
A4
M25
Not to scale. For indicative purposes only.
4
5
S I T U A T I O NThe property is situated on Strawberry Hill, to the north west of the main retail and town centre amenity offering. The property is approximately 0.7 miles from Newbury train station and 0.3 miles from Parkway Shopping Centre. Located parallel to Newbury’s pedestrianised high street (Northbrook Street), the property is within close proximity to a wide variety of shops, cafes, restaurants and bars. The immediate surrounding area consists of a mixture of residential and office accommodation, in addition to a number of preserved green parks and open spaces carefully maintained throughout Newbury.
D E M O G R A P H I C S
Newbury has an estimated population of approximately 41,883. The age profile of the population living in Newbury town centre consists of a high proportion of children aged 0-14 years, in addition to an over-representation of older working age adults between 45-64. Newbury is considered a very affluent catchment area, and per capita total retail spending levels are measured as above average. Additionally, the West Berkshire unemployment rate stands at 2.9%, which is substantially lower than the UK average of 4.1%.
T O W N R E G E N E R A T I O N
Newbury town centre has undergone significant regeneration in recent years and is further highlighted in Newbury’s 2026 Vision for further development. The town centre’s retail provision has transformed through the substantial Parkway Scheme, in addition to future plans to refurbish the Kennet Centre. Other developments in the town include refurbishment to the iconic Newbury Racecourse, in addition to major residential schemes such as The Urban Village and Market Street. To facilitate this regeneration, approximately £10m is anticipated to be invested to further improve road communications throughout Newbury.
M4M4
M4
A34
A34
A34
A339
A339
Benham Hill Thatcham
Hermitage
Curridge
Chieveley Services
Boxford
Bagnor
Stockcross
Marsh Benham
Snelsmore
Ashmore Green
NEWBURY
J13
Not to scale. For indicative purposes only.
6
Greenham Business Park
Newbury Racecourse
Parkway Shopping Centre
L’Occitaine
Horsey Lightly Solicitors
Corn Exchange Theatre
Newbury Racecourse Railway Station
Nuffield Health
Newbury College
Analog Devices Ltd
Horris Hill School
Travelodge
Roc Technologies Ltd
Premier Inn
Micro Focus
Vue Cinema
Newbury Library
H&M
Jack Wills
John Lewis
Sainsbury’s
Gekko
West Berkshire Council
Newbury Railway Station
Marks & Spencer
St Nicolas Church
Kennet Shopping Centre
Anytime Fitness
Aricent
Newbury Cricket Club
eGain Communications
Victoria Park
Jaywing
St Gabriel’s School and Sandleford Nursery
Newbury Rugby Club
Debenhams
The Chequers Hotel
Northcroft Park
West Berkshire Museum
St Bartholomew’s School
Northcroft Leisure Centre
Newbury Business Park– Huawei– Amec Foster Wheeler– Canon– Delta Impact Ltd– Mentor Graphics UK– Cognito iQ– Cirrus Logic
International(UK) Ltd
Hitachi Capital Vehicle Solutions
Waitrose
Leisure Office Occupiers Retail Schools
Newbury Retail Park
7
D E S C R I P T I O N
Bayer House comprises existing office accommodation divided across two interlinked blocks. The floor space is arranged over basement, ground, first and second floors. The property contains two access points, consisting of an impressive double height covered atrium, providing excellent natural light to all floors. There is also a secondary entrance on the eastern side.
The property was constructed in 1982, originally provided as Bayer plc headquarters. The building is of concrete frame construction, with cavity brick elevations and a double pitched roof.
A C C O M M O D A T I O N
The table below shows the existing floor area for the building, measured in accordance with RICS Property Measurement (1st edition), May 2015, providing the following net internal areas (NIA):
Floor NIA (sq m) NIA (sq ft) GIA (sq m) GIA (sq ft)
Basement 925.00 9,957 3,599.28 38,742
Ground 3,870.45 41,661 4,541.70 48,886
First 3,264.09 35,134 4,326.26 46,567
Second 3,194.03 34,380 3,818.01 41,097
TOTAL 11,253.57 121,132 16,285.25 175,292
A measured survey by Pure Real Estate Service Limited, can be provided upon request.
8
Down
Up
Down
Up Down
UpUp
Down
Up
Down
Up
Down
Up Down
Lift
Lift
LiftLift
Lift
LiftLift
Atrium264.11 sq m2843 sq ft
Up
Down
UpDown
Up
Riser
UpDown
Office
Office Office
Office
OfficeOffice
Office
ServerRoom
Office
Office
Office
Office
Office Office
Office
Office
Office
Office
Office
Office
Office Office
Office
Office
Office
Office
Office
Office
Office
Office
Office Office
OfficeOffice
Office Office
Office
Office
Office
Office
Office
Office
OfficeOffice
W/C
Circulation
Structural Element(Column)
Circulation
Circulation
W/C W/C
Circulation
W/C
W/C
Circulation
Plant
Plant
W/C
42.4
0m
60.27m
40.1
7m
11.1
1m
15.89m
29.0
3m
18.91m
37.48m
18.6
3m
W/C
Plant
External
Down
Down
Down
Down
Down
Down
Down
Down
Down
30.7
0m
19.07m
43.3
4m
59.85m
37.96m
18.9
5m
Office
Office
Office
Office
Office
W/C
W/C
W/C
LiftLift
Circulation
Circulation
Circulation
W/C
W/CW/C
Plant
Plant
Plant
Plant
Atrium251.38 sq m2,706 sq ft
External
Circulation
Lift
Lift
LiftLift
W/C
Structural Element(Column)
Office
Office
Office
OfficeOffice
Office
Office
Office
Office
OfficeOffice
Office Office
Office
Office
Office
Office
Office
Office
Office
Office Office Office Office Office Office Office
Office
Office
Office Office Office Office
Down
Storage
Plant
Storage
Storage
Storage Storage
Storage
Storage
Storage
Storage
Storage
Storage
Storage
Plant
Plant
PlantNo Access
Plant
Lift
Storage
PlantStorage
Storage
Plant
Storage
Storage
Circulation
Circulation
LiftPlant
Storage
Plant
Storage
Storage
Storage
Car Park
Car Park
Up
Up
Up
Up
Up
Up
29.99m
6.10
m
21.45m
17.6
5m
15.6
9m
4.76m
10.9
0m
6.13m
11.1
3m
6.14m
7.93m
7.99
m
8.03m
8.45
m
10.8
3m
6.41m
1.05
m
8.34m
22.1
2m
BASEMENT
FIRST FLOOR
Up
Down
Up
Up
Up
Up
UpW/CW/CPlant
Lift
Plant Plant
Lift Lift
Storage
W/C
W/C
W/C
Lift Lift
Plant
Plant
External
Reception
W/C W/C
Plant Plant
Circulation
Circulation
Circulation
Circulation
Circulation
Circulation
Circulation
Office Office Office
Office Office
Office
Office
Office
Office
Office
Office
Office Office
Office
Office Office Office
OfficeOffice
Office Office
Office
Office
Office
Office
Office
Office
Office
Office
Office
Office
OfficeOffice
Office
Area with a headroom ofless than 1.5m. [3.19]
Structural Element(Column)
Plant
21.2
9m
21.63m
34.9
1m
21.87m
22.51m
12.7
4m
45.4
2m
25.42m
23.82m
36.2
8m
30.93m 18.7
7m
19.02m
Front Entrance Front Entrance
Fire Exit
Fire Exit
Fire ExitFire Exit
Fire Exit
Fire Exit
Fire Exit
Fire Exit
Fire Exit
Fire Exit
Up
Up
Up
GROUND FLOOR
SECOND FLOOR
Not to scale. For indicative purposes only.
9
S I T E
The site area is approximately 3.2 acres (1.295 hectares). The below is a proposed site plan shown for indicative purposes only.
T E N U R E
Freehold
*Please note – Strawberry Hill is included in the Freehold title of this property, however it is an adopted highway. Further information can be provided upon request.
P A R K I N G
The site has an excellent parking provision consisting of a basement car park of 32 spaces, in addition to a separate multi-storey car park situated to the north of the building, providing 312 spaces.
The council currently have the right to 65 spaces within the car park on an agreement until 7th August 2099. More information can be provided upon request.
V A C A N T P O S S E S S I O N
The property is available with vacant possession.
76.2m
HILL
STR
AWB
ERR
Y
CLEVELAND GROVE ESS
22
17
14
10
5
1
4
8
12
47
50 54
49 5556
57
58
4950
48
5152
535457
55
56
58 5960
2
10 11
13
60
32
26
39
34
PH
46 to 48
1 to 21
Regents Court58
8to161to 7
Freeman Court10 to 24
36a 36c
Pelican House
1 to 14
76.2m
TCB
Northbrook Pla
RisingBollards
ALBERT ROAD
WEST STREET
El Sub Sta
39
43Church
1
40
30
34
6569
5
8 633
41
29
63a
6
28
32a
32
6470
27
59
HouseBrook
3836
63
Dundas1 to 9
34
Elliot1 to 9
43 to
47
40 to 46
68
11
58
77.9m
STRAW
BERR
YH
ILL
NE
OXFORD STREET
MAPLESPEEN COURT
LEYSGARDENS
Sub StaEl
El Sub Sta
15
29 27
25
9
2
Square
11
19
33
1
14
6 to 8
11
2
39
1
10
House
Oxford
31
Saddlers
Strawberry Hill
Court
to
SubSta
St Anne'sHouse
StC
athe
rine'
sH
ouse
St Peter'sHouse
1to
2
High
Corner
House
8
StAn
thon
ysH
ouse
5to
7
Oxford Court
35
76.1m
76.
76.9m
BROADWAY
NO
RTH
BR
OO
KS
TREE
T
THE
32
The Clock House
44
551
14
8
10
53
4
2
6
57a
3
PH
19
Shelter
47
15
9
18
5
50b
Hotel
16
51
1
6
1
26
57
13
49
11
PH
20 to 22
PH
2
21
50a
4
2
4
50
7
8
7
4to 8
0m 25m 50m 75m
BAYER HOUSE
10
O P P O R T U N I T I E S
We consider the site to comprise a variety of asset management opportunities, of which we have listed below:
• Refurbishment of the existing office accommodation to provide potential for reversion on re-letting.
• Permitted Development (see below existing Permitted Development Rights)
• A mixed-use development opportunity, with potential for residential, leisure or hotel use (subject to planning)
• Care home redevelopment
P R O P O S A L
We have been instructed to seek offers in excess of £15,000,000 (Fifteen Million Pounds Only), subject to contract and exclusive of VAT.
A purchase at this level would reflect a capital value of £124 psf, assuming purchaser’s costs of 6.73%.
C O N T A C T
For further information please contact the joint selling agents:
Important NoticeSavills, their clients and any joint agents give notice that:
1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.
2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
Designed and Produced by Savills Marketing: 020 7499 8644 | April 2019
E P C
The property has an EPC rating of D (79). Available upon request.
V A T
The property is elected for VAT.
P E R M I T T E D D E V E L O P M E N T R I G H T S
The property has Permitted Development rights, received on 24th September 2018 to be converted from the existing office use to 191 residential units (C3). Further information can be found from the planning reference 18/01904/PACOU
An accommodation schedule including floor plans in relation to the consented scheme is available upon request.
JAMES VIVIAN +44 (0) 20 7409 8731 jvivian@savills.com
ANDY FRASER +44 (0) 118 952 0528 andy.fraser@savills.com
SOPHIE CROSLEY +44 (0) 20 7409 8815 sophie.crosley@savills.com
GUY PARKES +44 (0) 118 945 0119 gparkes@ra-re.co.uk
ANDREW BAILLIE +44 (0) 118 945 0120 abaillie@ra-re.co.uk
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