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Strawberry Hill Newbury, Rg14 1Ja 2 STRAWBERRY HILL NEWBURY, RG14 1JA 2 INVESTMENT SUMMARY • 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%. Inverness Aberdeen Dundee Perth Stirling Edinburgh Falkirk Glasgow Dumfries Newcastle upon Tyne Carlisle SUNDERLAND Durham A19 A1(M) Hartlepool M6 A66 Middlesbrough Darlington A1 A19 Scarborough A1(M) Harrogate M6 York Blackpool Leeds Bradford M55 Preston M65 Kingston upon Hull Burnley Southport Blackburn M62 M6 M62 Scunthorpe Barnsley M61 M180 Grimsby Manchester Doncaster M1 Liverpool M57 M18 M62 M56 M53 Sheeld M56 Colwyn Bay Chester Skegness M1 M6 3 Wrexham Nottingham CROMER Stoke-on-Trent A148 Grantham Derby A149 Newbury is one of the most connectedKing’s L ynn LOCATION towns in the Thames Valley, situated A74 Telford where the M4 motorway (Junction 13) meets the A34, providing the link Newbury is an attractiveLeicester market town A74 between London to Bristol and Oxford to located strategically along the M4 Norwich Great Yarmouth Southampton. western corridor. Situated in West Peterborough Berkshire,M1 the town is 20 miles west of Bayer House is just a 7 minute walk from Reading, 27 miles south of Oxford and Newbury train station which currently A1(M) 60 miles from Central London. provides links to Reading in a fastest journey Lowestoft time of 18 minutesRAF Lakandenheath London Paddington Thetford M6Newbury has evolved into a thriving in 49 minutes. Further connectivity is also business location, with several key Coventry provided by Newbury Racecourse Station. occupiers choosing to base themselves within the town. These occupiers include The ElizabethA14 Line connecting from Vodafone, Huawei,M1 Canon, Stryker and Reading, willCambridge offer further links to central Bury St Edmunds Sovereign and Harrods. London, the City and the east of London. Worcester Newmarket Northampton With Heathrow Airport only an hours The town centre provides an active retailBedfor d drive, Bayer House is superbly located for and leisure offering, which is enhanced international travel. Ipswich by the draws of Newbury Racecourse. Newbury caters well to its growing living community, with a good selectionMilton of K eynes schools in the nearby area. Colchester Cheltenham Luton Gloucester StansCONNECTIVITYted M11 M40 Aylesbury M1 A1 (M) 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. Oxford M5 Chelmsford High The addition of Crossrail through Reading station, (only 22 minutes train from Newbury), provides further connectivity Wycombe M25 M40 M1 for the town. The Crossrail upgrade will enhance the connectivity of the Thames Valley into Central London, through an Swansea estimated 6 trainsSouthend-on-Sea per hour, and a direct journey time between Reading and Bond Street of 53 minutes. M4 Swindon Newport LONDON TRAVEL TIMES FROM NEWBURY Maidenhead M4 M25 M4 A4 M5 Reading Cardi M4 M25 Heathrow Newbury Town Centre M4 (Junction 13) Reading Basingstoke Oxford Southampton Heathrow Airport Central London A4 1.4 miles 4 miles 16 miles 18 miles 28 miles 39 miles 46 miles 60 miles NEWBURY M3 Basingstoke M25 Reading Maidenhead London Paddington Oxford Basingstoke Swindon Weston-super-Mare Farnborough 18 mins 41 mins 51 mins 51 mins 55 mins 60 mins A37 M20 Guildford Maidstone M3 CROSSRAIL TRAVEL TIMES FROM READING Not to scale. For indicative purposes only. Royal Maidenhead Heathrow Airport DoveBondr Street Liverpool Street Canary Wharf Stratford M5 Tunbridge Wells12 mins 38 mins 54 mins 61 mins 68 mins 69 mins Folkestone Salisbury Winchester *Showing fastest journey times TAUNTON Brighton Bournemouth Eastbourne Portsmouth Exeter Newport Torquay Plymouth 4 5 SITUATION The 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. M4 M4 M4 J13 Hermitage DEMOGRAPHICS Snelsmore Chieveley Services A34 Curridge Newbury has an estimated population of approximately 41,883. The Boxford 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%. Bagnor A339 Ashmore Green T O W N A34 REGENERATION Stockcross Newbury town centre has undergone significant regeneration in recent years and is further highlighted in Newbury’s 2026 Vision for further Benham Hill Thatcham development. The town centre’s retail provision has transformed Marsh Benham through the substantial Parkway Scheme, in addition to future plans to refurbish the Kennet Centre. Other developments in the town include A34 NEWBURY refurbishment to the iconic Newbury Racecourse, in addition to major residential schemes such as The Urban Village and Market Street. To A339 facilitate this regeneration, approximately £10m is anticipated to be Not to scale. For indicative purposes only. invested to further improve road communications throughout Newbury. 6 Leisure Office Occupiers Retail Schools Horris Hill School Greenham Business Park St Gabriel’s School and Sandleford Nursery Newbury College Newbury Retail Park Newbury Rugby Club Newbury Racecourse Nuffield Health St Bartholomew’s School Newbury Racecourse Railway Station Sainsbury’s Newbury Railway Station Vue Cinema Newbury Business Park Kennet Shopping Centre – Huawei Roc Technologies Ltd – Amec Foster Wheeler Newbury Library St Nicolas Church – Canon – Delta Impact Ltd West Berkshire Museum Corn Exchange Theatre – Mentor Graphics UK – Cognito iQ Horsey Lightly Solicitors – Cirrus Logic International(UK) Ltd Anytime Fitness John Lewis Victoria Park Marks & Spencer Hitachi Capital Vehicle Jack Wills Solutions Newbury Cricket Club H&M L’Occitaine Parkway Shopping Centre Premier Inn Debenhams West Berkshire Council Northcroft Park Travelodge Northcroft Leisure Centre Aricent Gekko eGain Communications Analog Devices Ltd Micro Focus The Chequers Hotel Jaywing Waitrose 7 DESCRIPTION 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. ACCOMMODATION 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 1.05m BASEMENT 8.34m Storage GROUND FLOOR Office Office Up Office Office Office 30.93m 18.77m Up Fire Exit Plant Fire Exit Circulation Up Up Plant Plant Plant Plant Lift W/C W/C Plant Office Office Up Lift Lift Down 6.41m Fire Exit Office Storage 10.83m Office 19.02m Storage Office Office 36.28m Fire Exit Office Storage Office Office Office Storage Storage 23.82m 8.03m 6.10m Office Plant Office 29.99m 8.45m Office Storage Office Storage Office Office Office Office Up Fire Exit Fire Exit Up 25.42m Circulation Up Plant Up Up Fire Exit W/C W/C Storage Plant W/C Storage Structural Element Storage 10.90m 7.99m (Column) 21.45m Circulation Office 7.93m No Access Plant Office Storage Area with a headroom of Storage less than 1.5m.
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