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Home , Benham Hill, Chieveley services, Luton, Marsh Benham, Newbury railway station

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 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

Blackpool Leeds Bradford M55 Preston M65 Burnley Southport Blackburn M62 M6

M62 Scunthorpe Barnsley M61 M180 Grimsby Manchester Doncaster M1 Liverpool M57 M18 M62

M56 M53 Sheˆeld M56 Colwyn Bay

Chester Skegness M1 M6

3 Wrexham CROMER Stoke-on-Trent A148 Grantham A149

Newbury is one of the most connectedKing’s L ynn LOCATION towns in the , situated A74 Telford where the (Junction 13) meets the A34, providing the link Newbury is an attractiveLeicester market town A74 between to and to located strategically along the M4 Great Yarmouth . western corridor. Situated in West 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 With 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. 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 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 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 M4 M25 M4 A4 M5 Reading Cardi M4 M25 Heathrow Newbury Town Centre M4 (Junction 13) Reading 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 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 Eastbourne Exeter

Newport

Torquay 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 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 unemployment rate stands at 2.9%, which is substantially lower than the UK average of 4.1%.

Bagnor A339 T O W N A34

REGENERATION

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 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 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 Club H&M L’Occitaine Parkway Shopping Centre

Premier Inn 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. [3.19] External 45.42m Storage Storage Office

6.13m 17.65m Plant Car Park 22.12m

Storage Storage Plant 34.91m

W/C W/C Up Plant 6.14m Circulation Plant

15.69m Plant 4.76m Lift Storage Lift Lift Up Plant Fire Exit

11.13m Office Circulation Circulation Plant Storage Office Storage Storage Storage Office Lift Reception Circulation 22.51m Office Up 21.87m Office

Circulation Circulation 12.74m Office Office

Car Park

21.63m 21.29m Office Fire Exit Front Entrance Front Entrance

Up

Up

Fire Exit

FIRST FLOOR Office SECOND FLOOR Office Office Office Office 37.96m

Office 37.48m Office

Office Office Up

Down Down 18.63m

Down 18.95m Down Up Plant Office Plant

Office W/C W/C Office W/C Office Office Office W/C Office Down Lift Lift Up Down Lift Lift

Office Circulation Circulation

Office

Office

Office Office

Office Office 19.07m

18.91m

Office 30.70m 29.03m

Office Lift Office Office Office Office Office Office Lift Office Office

Lift Office Lift Office

Circulation 11.11m Office Office Server Office Circulation Office 15.89m Room Structural Element Office Structural Element Office Office (Column) Office Office (Column) Down Up Down Down Down Circulation Up Up Circulation Down Up Down

W/C Office Office Office W/C Office Office Plant Atrium Atrium 251.38 sq m Office 264.11 sq m W/C Office 2843 sq ft 2,706 sq ft W/C

Office Office W/C

Office 43.34m W/C External

External 42.40m Office Circulation

Office W/C W/C W/C W/C Office Plant Office

Plant

Plant Office Lift Office Lift Plant Lift Riser Lift Lift Down Up Down Up Circulation Office Down 40.17m Down Circulation 59.85m Office Office 60.27m

Office

Office Office Office Office Office Office Office Office Office Office Office Down Up Down Office

Office

Office Office

Down

Office Office Down Up

Not to scale. For indicative purposes only. 9

SITE PARKING

The site area is approximately 3.2 acres (1.295 hectares). The The site has an excellent parking provision consisting of a basement car park of 32 spaces, in addition to a below is a proposed site plan shown for indicative purposes only. separate multi-storey car park situated to the north of the building, providing 312 spaces.

10

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Sub 5 The council currently have the right to 65 spaces within the car park on an agreement until 7th August 2099.

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PLESPEE 8 5 2 O N COUR XF Hotel T ORD More information can be provided upon request. STR EET 8 77.9m 6 4

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*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. 10

OPPORTUNITIES PROPOSAL

We consider the site to comprise a variety of asset management opportunities, We have been instructed to seek offers in excess of£15,000,000 of which we have listed below: (Fifteen Million Pounds Only), subject to contract and exclusive of VAT. • Refurbishment of the existing office accommodation to provide potential for A purchase at this level would reflect acapital value of £124 psf, reversion on re-letting. assuming purchaser’s costs of 6.73%. • 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 CONTACT

PERMITTED For further information please contact the joint selling agents: JAMES VIVIAN SOPHIE CROSLEY DEVELOPMENT RIGHTS +44 (0) 20 7409 8731 +44 (0) 20 7409 8815 [email protected] [email protected] The property has Permitted Development rights, received on 24th September 2018 to be converted from the existing office use to 191 residential units (C3). ANDY FRASER Further information can be found from the planning reference 18/01904/PACOU +44 (0) 118 952 0528 [email protected] An accommodation schedule including floor plans in relation to the consented scheme is available upon request.

GUY PARKES ANDREW BAILLIE +44 (0) 118 945 0119 +44 (0) 118 945 0120 [email protected] [email protected]

EPC VAT

Important Notice The property has an EPC rating of The property is elected for VAT. Savills, 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 D (79). Available upon request. 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