RIDING COURT HOUSE & DRG HOUSE
RIDING COURT ROAD, DATCHET SL3 9JT
HIGHLY ATTRACTIVE REPOSITIONING OPPORTUNITY 02 RIDING COURT ROAD, DATCHET SL3 9JT INVESTMENT SUMMARY
• Vacant possession repositioning opportunity within a stunning country manor setting
• Well-located in Datchet, Berkshire offering excellent road and rail links into London, the Thames Valley and London Heathrow Airport
• The property comprises two buildings; Riding Court House and DRG House, with a combined NIA of 15,289 sq ft
• A parking provision of 64 spaces equating to a ratio of 1:239 sq ft
• Site area of 1.76 acres
• The property is set within highly attractive and historic grounds creating a bespoke environment, unmatched Riding Court House by town centre stock
• The Thames Valley office market is currently experiencing a highly favourable occupational dynamic with exceptionally low levels of supply and strong occupier demand
• Buildings offer flexibility due to the ability to let separately or as a whole
• Freehold
Offers are sought in excess of £3,440,000 (Three Million Four Hundred and Forty Thousand Pounds), equating to a low capital value of £225 psf
DRG House
RIDING COURT ROAD, DATCHET SL3 9JT 03 LOCATION
3 BEACONSFIELD Datchet is an attractive village in the Royal Borough of Windsor and A1(M) M40 N Maidenhead. Strategically positioned between J5 and J6 of the M4 it benefits HARROW 2 M25 from excellent connectivity to key Thames Valley locations such as Slough, 1 Maidenhead, Windsor and London Heathrow Airport. A404 16 1 UXBRIDGE SLOUGH Datchet is served by Datchet railway station which offers local commuter MAIDENHEAD A40 services as well as a direct train to London Waterloo twice an hour (52 mins). STOCKLEY PARK EALING A406 LONDON Given its proximity, Slough railway station provides additional services, 7 6 DATCHET 8 HAMMERSMITH offering a direct route to London Paddington in 17 mins. A4 15 4 5 M4 1 WINDSOR Datchet is set to be a beneficiary of the opening of the Elizabeth Line. A4 CHISWICK M4 14 Once open in 2021 Crossrail will pass through the nearby SloughREADING Station, A308 HEATHROW RICHMOND
significantly enhancing connectivity across the Thames Valley as well as into A30
13 STAINES Heathrow and Central London. BRACKNELL 10 A308 1 KINGSTON 11 A3 A30 A24
12 A309 A322 WEYBRIDGE A33 M3
EPSOM CAMBERLEY 3 M25 A243
WOKING 4 10 UPTON COURT PARK 9 A217
9 T FARNBOROUGH S LO J6 M4 / READING A3 NDO H B G 3 I 7 H 6 N J15 M25 / 5 A331 R A24 D LONDON 8 DITTON PARK M4
RIDING COURT HOUSE RD K 5 & DRG HOUSE R L PA O E N N M4 D T ON O TO N RIDING CT RD R D DIT
R ID IN G RD B B CT 4 7 3 0 7 6
0 DATCHET ON RD 7 ND 4 LO B
D DATCHET R H N O O THE QUEEN MOTHER RESERVOIR RT T O T N R I D D
04 RIDING COURT ROAD, DATCHET SL3 9JT SITUATION
The property is located on a prominent site fronting the M4 motorway, to the north east of Datchet centre. The wider site comprises an historic country manor dating back to the 17th century. More recently the manor house Slough 2.6 miles itself and various out buildings have been converted to office use, in the present Windsor 2.4 miles day the property presents as one of the most idyllic micro-office locations in the south east. London Heathrow 6.0 miles
Maidenhead 11.5 miles Boundary is for illustrative purposes only, title documents are available on request.
Bracknell 11.5 miles
London West End 21 miles
DRG HOUSE Crossrail from Slough From Slough (Due 2021) RIDING COURT Maidenhead 4 minutes Reading 12 minutes HOUSE
Windsor & Eton 6 minutes London Heathrow 17 minutes
Reading 12 minutes Bond Street 32 minutes
London Paddington 17 minutes Farringdon 37 minutes
London Heathrow 25 minutes Canary Wharf 46 minutes
RIDING COURT ROAD, DATCHET SL3 9JT 05 DESCRIPTION
Riding Court House Riding Court House is an 18th century re-build of a 17th century Grade II listed manor house. The building is set over two storeys and provides attractive office accommodation. It benefits from an integrated cafeteria which is located in the rear extension. The internal specification is as follows; • Air conditioning (portable cassettes) in part • Perimeter trunking • Suspended ceiling • Mix of Category II and LED lighting • On-site canteen • WC’s • Large garden with feature pond
Accomodation AREA PLAN The property has been measured in accordance with The RIDING COURT RICS Code of Measuring Practice (6th Edition, 2007) Riding Court Road, SLOUGH, SL3
and IPMS 3-Office as set out in the IPMS Standards, RICS Riding Court House Property Measurement (1st Edition, May 2015). GIA and IPMS Ground Floor Net Internal Area areas are available on request. OFFICE 435.1 sq m 4684 sq ft
STORAGE 4.3 sq m 46 sq ft
Floor NIA SQ FT NIA SQ M ANCILLARY 8.0 sq m 86 sq ft Second 662 61.5 RECEPTION 40.1 sq m 432 sq ft Second (storage) 493 45.8 TOTAL NIA: 487.5 sq m 5248 sq ft The following has been INCLUDED in the TOTAL NIA: First 3,015 280.1 Steps 1.7 sq m 18 sq ft The following has been EXCLUDED from the TOTAL NIA:
First (ancillary) 19 1.8 Door Recess 1.0 sq m 11 sq ft Gross Internal Area Ground 4,683 435.1 GIA 582.0 sq m 6265 sq ft Ground (storage) 461 4.3 Ground (ancillary) 86 8.0 Reception 432 40.1 Basement 536 49.8
Total 9,972 926.5 Indicative ground floor plan not to scale.
06 RIDING COURT ROAD, DATCHET SL3 9JT
Dwg No. 42084-RH-AG Issue A May 2019 Scaled for presentation purposes Condition of Site: Notes: Revisions: Occupied This drawing complies with the RICS Code of Measuring Practice, 6th edition (September 2007) and indicates the extent of the areas quoted, produced to an accuracy Vacant commensurate with standard presentation scales. It is held in a scaled digital CAD format. A - Original Issue (May 2019) Under Construction Heavy Fit-Out Regulated by RICS Cat A Fit-Out Shell & Core +44(0)1582 765566 www.plowmancraven.co.uk DRG House DRG House is a refurbished barn conversion providing two storeys of office accommodation. The office space is well specified. Key features include; • Air conditioning (wall mounted cassettes in part) • Perimeter trunking • Suspended ceilings • Category II lighting • Onsite parking spaces
Accomodation
The property has been measured in accordance with The AREA PLAN RICS Code of Measuring Practice (6th Edition, 2007) RIDING COURT and IPMS 3-Office as set out in the IPMS Standards, RICS Riding Court Road, SLOUGH, SL3
DRC House Floor NIA SQ FT NIA SQ M Ground Floor First 2,198 204.2 Net Internal Area OFFICE 287.7 sq m 3097 sq ft Ground 3,097 287.7 STORAGE 2.0 sq m 22 sq ft Ground (storage) 22 2.0 Total 5,317 493.9 TOTAL NIA: 289.7 sq m 3119 sq ft The following has been EXCLUDED from the TOTAL NIA:
Restricted Headroom 3.5 sq m 38 sq ft Gross Internal Area
GIA 343.2 sq m 3694 sq ft
Indicative ground floor plan not to scale.
RIDING COURT ROAD, DATCHET SL3 9JT 07
Dwg No. 42084-DRC-AG Issue A May 2019 Scaled for presentation purposes
Condition of Site: Notes: Revisions: Occupied This drawing complies with the RICS Code of Measuring Practice, 6th edition (September 2007) and indicates the extent of the areas quoted, produced to an accuracy A - Original Issue (May 2019) Vacant commensurate with standard presentation scales. It is held in a scaled digital CAD format. Under Construction Regulated by RICS Heavy Fit-Out Cat A Fit-Out +44(0)1582 765566 www.plowmancraven.co.uk Shell & Core OCCUPATIONAL MARKET Relevant office leasing activity Date Address Area Tenant Lease Rent Incentive (sq ft) Term (psf) (break) Take-up in the South East office market was 2.4 million sq ft in H2 2018, Feb- The Switch, Michael Page bringing the year total to 3.5 million sq ft, the highest since 2007. 9,429 10 (5) £25.50 18 months 2019 The Grove, Slough Recruitment 2018 saw a marked slowdown in speculative development with only 9 Jan- 4 Longwalk Road, 11,000 Coats Group 12 £39.25 15 months schemes completing, delivering 685,000 sq ft across the South East. This 2019 Stockley Park compares to circa 2 million sq ft delivered in both 2016 and 2017. Grade Record Store, The Dec- A availability consequently declined by 21% from 2017 and 13% below the Old Vinyl Factory, 7,000 ADI Group 10 (5) £33.50 Confidential 2018 5-year average. Hayes Oct- 234 Bath Road, The shortage in supply has driven strong rental growth in various locations 18,000 Indivior 10 (5) £32.50 Confidential 2018 Slough across the south east and particularly the Thames Valley in and around Oct- Vista, Datchet. Examples are £36.00 per sq ft in Slough, £27.50 psf in Milton 3,142 Wishworks 10 (5) £32.50 8.5 months 2017 Windsor Keynes, £38.00 psf in Reading and £33.00 psf in Woking. Jun- Minton Place, 3,239 Pathways 10 (5) £30.00 12 months 2017 Windsor
OFFICE INVESTMENT Relevant office VP comparables Date Address Purchase Area Tenancy Vendor Purchaser MARKET Price (sq ft) Details (psf) Apr- Sovereign Gate, £9.4m Vacant Metropolitan Planehouse 22,331 Buoyed by an exceptional occupational story the south east office 2019 Brentwood (£420) Possession Police Limited investment market continues to benefit from strong investor demand. In a Mar- Mellon House, £12.97m Vacant Private Land Charter 50,867 market typified by stock shortages; driven by a constrained development 2019 Brentwood (£255) Possession Investor Homes pipeline and loss of stock to alternative uses, the south east is benefitting Feb- Goodrich House £3.37m Vacant BMT Arvan 11,137 from a highly favourable occupational dynamic. 2019 Teddington (£303) Possession Group Limited Jan- Kestrel Court, £2.82m Vacant Private Owner The lack of available new build product increases the appeal of standing 9,658 2019 Chertsey (£292) Possession Investor Occupier stock. Assets which facilitate refurbishment and repositioning strategies Dec- 15 Bath Road, £3.55m Vacant Burger Private provide investors an attractive opportunity to capitalise on the current 11,082 2018 Slough (£320) market dynamic by securing occupiers and driving rental values forward. Possession King Investor Dec- 51 Belmont Road, £3.34m Vacant Westcombe 12,704 Aviva Riding Court House and DRG House provide an investor the rare and 2018 Uxbridge (£263) Possession Group attractive opportunity to deliver a highly bespoke working environment in a Nov- 4 Chalfont Park, £7.4m Vacant Kennedy Stonegate 25,857 well-connected Thames Valley location. 2018 Gerrards Cross (£286) Possession Wilson Homes
08 RIDING COURT ROAD, DATCHET SL3 9JT RESIDENTIAL MARKET
The Thames Valley residential market continues to strengthen. Accessibility to London and the growth of key towns and cities attracts commuters and indigenous workers alike. The delivery of key transport infrastructure is set to further enhance this. Datchet and the wider Slough location are particularly attractive. Residential capital values in excess of £500 psf can be achieved. Given the history of the property there is the possibility to explore residential use, subject to planning and the necessary consents.
TENURE
Freehold. Title documents available on request.
SITE AREA
1.76 acres.
PLANNING
The property sits within the Royal Borough of Windsor and Maidenhead. Under the current Adopted Local Plan the property is allocated as Green Belt. The Adopted Local Plan is due to be replaced by the Borough Local Plan. In current drafting the property will continue its Green Belt allocation. Riding House Court House is a Grade II listed property.
RIDING COURT ROAD, DATCHET SL3 9JT 09 10 RIDING COURT ROAD, DATCHET SL3 9JT RIDING COURT HOUSE & DRG HOUSE
RIDING COURT ROAD, DATCHET SL3 9JT
www.cbre.co.uk EPC 020 7182 2000 Energy Performance Certificates are available on request. CONTACTS
Mike Buer PROPOSAL [email protected] 020 7182 3102 Seeking offers in excess of£3,440,000 (Three Million Four CBRE Limited Hundred and Forty Thousand Pounds), subject to contract and Henry Kilmister Henrietta House, Henrietta Place exclusive of VAT. A purchase at this level reflects anattractive [email protected] capital value of £225 per sq ft. 020 3257 6189 London W1G 0NB
SUBJECT TO CONTRACT – June 2019 DISCLAIMER: CBRE LIMITED CBRE Limited on its behalf and for the Vendors of this property whose Agents they are, give notice that: 1. These particulars are set out as a general outline only for guidance to intending Purchasers or Lessees, and do not constitute any part of an offer or contract. 2. Whilst CBRE Limited uses reasonable endeavours to ensure that the information in these particulars is materially correct, any intending Purchasers or Third Parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection, searches, enquiries, surveys or otherwise as to their accuracy. CBRE Limited as such cannot be held responsible for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss of profits resulting from direct or indirect actions based upon the content of these particulars. 3. No person in the employment of CBRE Limited has any authority to make any representation or warranty whatsoever in relation to this property. 4. Unless otherwise stated, all purchase prices and rents are correct at the date of publication and, unless otherwise stated, are quoted exclusive of VAT. Lease details and service ground rent (where applicable) are given as a guide only and should be checked and confirmed by your solicitor prior to exchange of contracts.