Parallel-House-Brochure.Pdf

Not to scale. For reference purposes only

FOR SALE Exceptional Brownfield Residential Conversion Opportunity

Parallel House, Bath Road, Slough, SL1 4AA www.cbre-datahub.co.uk/parallelhouse CENTRAL LONDON

SLOUGH

PARALLEL HOUSE

A4 BATH ROAD

Not to scale. For reference purposes only

Parallel House, Bath Road, Slough, SL1 4AA www.cbre-datahub.co.uk/parallelhouse SUMMARY

Planning permission secured for the provision of 106 private flats 0% Affordable Housing and a minimal s106 contribution agreed A4 BATH ROAD Existing floorspacecomprises c. 38,000 sq ft GIA The site is located 1.5 miles away from Slough Railway Station, with a Crossrail service anticipated to start in December 2019 Site extends 1.08 acres Potential for a comprehensive new build development across the whole site subject to securing the necessary planning consent 2

106 DWELLINGS Planning permission for 106 units with 0% affordable

CIRCA 0.44 165,000 15 MIN HECTARES Population Slough Slough to Circa 1.08 acres Est. 2018 London Paddington Not to scale. For reference purposes only

Parallel House, Bath Road, Slough, SL1 4AA | www.cbre-datahub.co.uk/parallelhouse LOCATION

Slough is a prominent town in East Berkshire with a population of c.165,000 people. Slough has a very strong local economy with many significant local and international businesses with a presence in the town. 3

2 As well as the strength of the local economy Slough also benefits from 6 9 outstanding transport links. It is an excellent commuter town with direct links 5 1 7 to London and Reading. In 2019, Slough is also set to gain from Crossrail 4 which will further enhance its connectivity. Slough is currently benefiting from SLOUGH £450million of investment to redevelop the town centre, the first stage of this urban renewal has delivered the new iconic Library and Cultural centre. 8 10 Salt Hill Park (10 minutes walk from site) comprises c.30 acres of public open space including outdoor sport and playing facilities. The newly opened Slough Ice Arena which asides from an ice rink offers a gym and climbing wall is also located less than a 10-minute walk from the site. 3 PARALLEL HOUSE The site itself is only a 25-minute walk from Slough train station and the town centre amenities which provide a significant retail and leisure offering. 11

1 Slough Train Station 7 The Curve Slough: Library / Museum 2 Tesco Extra 8 Salt Hill Park 3 Sainsbury’s 9 M4 4 Slough Bus Station 10 Montem Leisure Centre 5 Future Works: and Ice Arena New Commercial Quarter A4 ROAD BATH 11 Salt Hill Three Tuns 6 Queensmere Observatory Bus Stop Shopping Centre Not to scale. For reference purposes only

Parallel House, Bath Road, Slough, SL1 4AA | www.cbre-datahub.co.uk/parallelhouse SLOUGH ECONOMY

A combination of its prime location being within 20 minutes of both Central London and Heathrow, its ample provision of good quality commercial space and the productive local workforce have attracted a strong roster of both international and national businesses to Slough including O2, Lonza, Segro, Black & Decker, Fiat and BA.

The strength of the local economy and continued capital investment in Slough has translated to an increase in demand for residential property in the area. Demand has been particularly strong from affluent professionals who work in the town or commute to central London. In the past 5 years average house prices in Slough have increased by 37.41% (House Price).

*ONS Business Register of Employment Survey 4

Parallel House, Bath Road, Slough, SL1 4AA | www.cbre-datahub.co.uk/parallelhouse CONNECTIVITY

T M

By Foot O M

AIN

DE NH Local Amenities 3 minutes EA D Langley B PARALLEL HOUSE Local Leisure Facilities (Montem Leisure Centre) 10 minutes ATH RO Park AD Slough Train Station 25 minutes A

BAT 1 H ROAD HIGH STR By Road EET WEL LING TO 7 M4 (J6) 1 miles N S 8 M TO TR R Slough EAD EE Windsor 3 miles ING T

Maidenhead 6 miles Iver M Heathrow Airport 8 miles A

Reading 20 miles

Langley

L O ND O N

O Eton College Upton Court A D

By Train (Slough Train Station) M Golf Club Park

Windsor & Eton Central 6 minutes J M M

Ditton Maidenhead 7 minutes Park J Ealing Broadway (District Line & Central Line) 12 minutes M

LO ND

Reading 14 minutes ON R OAD A 5 Paddington - Terminus 15 minutes M Eton 2 COLNB ROO K BYP ASS A COLNBROOK

3 4 Datchet BYPASS Queen Mother Home Park Reservoir 1 Slough Train Station 5 Heathrow Overground Windsor Golf Course Heathrow

2 Windsor & Eton Riverside 6 Heathrow Underground M

3 Windsor & Eton Central 7 Iver

Langley 4 Datchet 8 5

Slough has excellent transport connectivity with The nearest international airport is Heathrow, direct, frequent services to Central London and situated less than 20 minutes away by car. quick access to key regional hubs such as Reading, Maidenhead and Oxford. The Salt Hill Three Tuns Bus Stop is a two minute walk from the front of the site from which there Slough Lagle er est rato Haes HarlgtoSouthall Hawell est alg alg BroadwaActo a le Bod Street The introduction of Crossrail in 2019 will offer is a regular service from X74,13 and 583 buses Reading Liverpool St. direct connectivity to Bond Street in under offering direct access to the station and the town

35 minutes and Canary Wharf in 46 minutes. centre. There is also a west bound service which min runs to Maidenhead town centre. 6min 15 The proposed Western Railway Link (anticipated Heathrow Paddington 2024 delivery) will enable reduced journey times from Slough to Heathrow, indicated at 7 minutes.

Parallel House, Bath Road, Slough, SL1 4AA | www.cbre-datahub.co.uk/parallelhouse

SLOUGH URBAN RENEWAL

Slough council have entered a JV with Morgan E

A E

Sindell Investments to undertake a £450m S Wexham

A A

E regeneration of Slough in what is known as Godolphin

the ‘Heart of Slough’ project. The project 8 Playing Fields 1 2

D A includes significant investment in creating new O R E T G

O S D

M T I

O R

IN K B

housing, development of two new Marriot D

EN E G U

H R P E A AN

AD O D U

G NIO

E N C

Hotels, the redevelopment of the ice rink and S AN

L L

some further ‘landmark projects’. The first phase A

A L

of the regeneration was the creation of the G

B E

ATH R

R S Slough

AD 5 R O

iconic Curve library and Cultural Centre which A D

PARALLEL HOUSE

A E

G N

BAT A A

H RO N

D L

opened in 2017. 7 IO

D N

N Tesco Extra A

H A

I O N

GH A U

3 L STREET WELLI R L

T N

E GTO E D N

STR DG G E ET RI

E B

R 9 UX

S A

The recently regenerated high street provides a significant retail offering Salt R O

A 6 and is home to a wide variety of national and local retailers. Queensmere Hill D Observatory shopping centre is also located in the town centre and in addition 6

to the High Street provides 120+ shops. E N A SU L S SE S X P N Upton LA U CE T M 4 A

Chalvey

RIVER THAMES M A Lascelles J M Park 1 James Elliman Academy 4 St Mary’s Primary School LO ND 2 Arbour Park (Football Club) 5 Salt Hill Park ON RO AD 3 Claycots Primary School 6 Queensmere Observatory Upton Court A

M Park A

7 8 9

Slough Ice Arena (Opened 2018) The Centre (Leisure Centre) Opening early 2019) The Curve (Opened September 2017)

Parallel House, Bath Road, Slough, SL1 4AA | www.cbre-datahub.co.uk/parallelhouse OPPORTUNITY

Description Planning

The site benefits from an existing consent The total site measures 1.08 acres (P/04241/013) which permits a change of use and is a prominent development from serviced apartments (C1) to self-contained residential flats (C3). The granted scheme of 106 opportunity on the Bath Road. flats comprises: 2

The former office building was originally converted 42 x studios 1 to create 64 self-contained serviced apartments (C1) and now benefits from a change of use consent 52 x 1 bed to convert the existing building, as well as adding 12 x 2 bed a two-storey extension above the second floor and a four-storey rear extension to create a flatted residential scheme (C3) comprising of 106 units. The signed s106 includes a £40,000 contribution and an adjustment of the site boundary to Subject to securing the necessary planning accommodate the realignment of the public footpath, permission there is also the possibility of demolishing along the eastern boundary of the site. the existing building and redistributing the floorspace across the site to create an attractive new build scheme. 7

A4 BATH ROAD

Not to scale. For reference purposes only

CGI 1 2 FURTHER INFORMATION CONTACT

Technical Viewings & Technical Meetings Alex Shaw

UK Development South East Transactions Currently there are two leases on the car park. Viewings are available by request. These will consist CBRE of a guided tour of the site. All appointments should Both leases can be terminated at short notice, 020 3214 1873 be made by prior arrangement with the sole agents further details are provided in the data room. [email protected] CBRE. A detailed data room has been prepared as part of this site sale. The due diligence information can At no time should interested parties attempt to be accessed via secure registration via the access the building independently. Paris Williams embedded link on this brochure below. UK Development South East Transactions CBRE Tender Process 020 3257 6180 [email protected] DataHub The site is being offered for sale via informal tender. Offers will be invited for the freehold interest on an Technical information is unconditional basis. available to download from the Parallel House DataHub - click BELOW to gain access. VAT 8

www.cbre-datahub.co.uk/parallelhouse The site is elected for VAT. It is envisaged that the sale will be treated as a Transfer of a Going Concern (TOGC).

Henrietta House | Henrietta Place | London | W1G 0NB www.cbre.co.uk

Misrepresentation Act: All Agents and for the vendors or lessors of this property whose agents they are, give notice that (i) these particulars are produced in good faith, are set out as a general guide only and do not constitute any part of an offer or contract. They are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves as to the correctness of each of them. (ii) no person in the employment of all agents has any authority to make or give any representation or warranty in relation to this property. April 2019.