Two Freehold Brownfield Development Opportunities for Sale

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TWO FREEHOLD BROWNFIELD DEVELOPMENT OPPORTUNITIES FOR SALE

SUBJECT TO CONTRACT

On behalf of Barnfield College

New Bedford Road Campus & Enterprise Way Campus

Luton, Bedfordshire EXECUTIVENew SUMMARY Bedford Road, Luton

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2 6 7 - Freehold sites well located close to Luton Town Centre totaling 40.7acres (17 ha) 4

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9 4 ESS - Both Lots are well located withinE an established residential location with good 2 A

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11 - Pre Application meeting held for residentialShelter redevelopment of both Lot 1 & Lot

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3 3 6 8 2 delivering a combined total of 584 residential units. 4

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- Further information available in the dataroom; www.barnfield-luton.com ED y d B rd F a O W R

AD CR AREA B - Offers invited for each Lot by way of separate informal tender. Bushmead Primary School

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1 9 Barnfield 115.8mCollege occupies two sites; the main Campus (New Bedford Road) 7 1 8

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D 3 located approximately 2 miles to the north of Luton Town Centre on New Bedford

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0 Area : 35.430 acres (14.338 ha)

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9 Road (35.6 acres / 14.04 ha) and a second smaller Campus (Enterprise Way)

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0m 50m 100m33 150m 1 of 5.1 acres (2.06 ha) which is approximately a further 1.5 miles to the north

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IN 2 R K S 3 ENS 4 T D 6 GAR 2 MIDHURST 2 GA situated on Enterprise Way. Both campuses are offered as two separate Lots (Lot R DE GP NS Ordnance Survey © Crown Copyright 2017. All rights reserved. Licence number 100022432. Plotted Scale - 1:3500 1 New Bedford Road & Lot 2 Enterprise Way) that can be purchased together or individual by separate tender. Pre Application Submitted for a combined total of 584 residential units, infrastructure and public amenity space. LOCATION

Luton is a large town, and is located within the county of Bedfordshire, forming with its neighbours (Dunstable and Houghton Regis) the Luton/Dunstable Urban Area. The town is located approximately 18 miles of Aylesbury, 12 miles west of Stevenage, 30 miles north of London, and 25 miles southeast of Milton Keynes. The M1 motorway lies immediately to the west with easy access to the airport from junction 10 and the town centre from junction 11.

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Luton is well served S to provide national and international travel. Luton Airport is located immediately to the south of the town providing frequent flights primarily to European destinations. Rail services from the town centre, Leagrave and Parkway stations provide access to London St Pancras with a 22-minute service, and to Gatwick and Brighton further south with the service to Bedford and on to Nottingham to the north. In addition, there are a number of bus stops within a short walk of the site providing approximately a 10minute journey time into Luton Town Centre.

Map is indicative and not to scale. LUTON RESIDENTIAL MARKET OVERVIEW

Credited as one of the country’s top five most affordable towns and one of the fastest growing areas for business and regenerative growth, Luton is a fantastic location for both first-time buyers and Buy-to-Let investors, with excellent train links from Luton station and Luton Airport Parkway, offering direct journeys To East Midlands of as quick as 24 minutes into central London’s St Pancras International. & South Yorkshire Bedford (14mins)

Luton Luton Luton Airport & Parkway Luton Airport • Luton was the UK’s property hotspot last year, according to the St. Albans City UK’s largest mortgage lender (13mins)

• Luton saw house prices rise 19.4% in 2016 (Halifax)

St. Pancras International • Rents increased by 6.61% in (33mins) 2016 (Landbay) London Blackfriars • Luton has a £1.5 billion inward RIVER THAMES investment plan in place over the London Bridge next 20 years

• 18,500 new jobs are being created which will lead to an increased demand for housing in an area with an already existing undersupply East Croydon

• London Luton Airport is set for a £110 million redevelopment Thameslink route which is set to increase annual National Rail Gatwick capacity by 50%, from 12 to 18 (travel time from Luton Station) million by 2020 To Brighton LOT 1 - NEW BEDFORD ROAD CAMPUS Luton, Bedfordshire, LU2 7BF

• Brownfield residential led redevelopment opportunity, subject to the necessary consents

• Rectangular shaped site of 35.6 acres (14.04ha)

• Freehold for sale

• Excellent infrastructure links and public transport into London St Pancras

• Good quality residential location with close proximity to local amenities and schools

• Offers invited on an unconditional basis

• Pre Application for 483 residential units, public amenity, sports facilities and associated infrastructure. LOCATION

New Bedford Road Campus lies approximately 3km to the north of Luton town centre on the busy main A6 road running from Luton in the south to Bedford and onto the midlands to the north.

The New Bedford Road Campus site forms a rectangular shaped site totaling circa. 35.6 acres (14.4ha) and is bounded by New Bedford Road to the west, Barnfield Avenue to the north, Old Bedford Road to the east and housing situated on Kingsdown Avenue to the south.

The site is split clearly into two areas, Area A on the marked plan to the front of the site, fronting New Bedford Road is the main built area comprising the main College buildings and to the northern boundary the car parking accessed off Barnfield Avenue. Area B to the rear of the site is the main land area and comprises playing pitches albeit these are overgrown and not in regular use.

The site is predominantly flat sloping from the rear of the site across the playing fields before flattening over the built area down to New Bedford Road. The site boundary is secured by chain link fencing, with mature landscaping fronting New Bedford Road.

The surrounding area is predominantly residential in nature, reflecting its suburban location in Luton. Local amenities are provided in the form of a small parade of shops further along New Bedford Road and Icknield High School opposite. PLANNING

The site is not allocated for a particular use, albeit part of the site is within a defined Flood Zone 2/3. This flood area affects the western part of the site and is a consequence of its proximity to the River Lea.

The emerging Local Plan recognises a shortfall in housing supply terms, for which reason such uses are likely to be supported in principle. A brownfield site, the character of the surrounding area is predominantly residential and in this regard a residential scheme would be in keeping. The indicative scheme submitted for pre-application discussion demonstrates that the site could appropriately accommodate a residential proposal in design terms.

The perceived loss of playing fields appears to have caused some concern amongst members of the public during consideration of the 2012 application. However, whilst there were once playing fields associated with the educational use of the site, the College has not used these playing fields for a considerable time. No fields are marked out for use in connection with any sporting activity. The land is privately owned and the playing fields were not historically available for public use. The former playing fields land is not publically accessible and members of the general public are expressly prohibited from entering the site. A case is therefore considered to exist for extending the developable area onto the former playing fields. LOT 2 - ENTERPRISE WAY CAMPUS Luton, Bedfordshire, LU3 4BU

• Brownfield residential led redevelopment opportunity, subject to the necessary consents

• Rectangular shaped site of 5.1 acres (2.06ha)

• Freehold for sale

• Excellent infrastructure links and public transport into London St Pancras

• Good quality residential location with close proximity to local amenities and schools

• Offers invited on an unconditional basis

• Pre Application for 101 residential units, public amenity and associated infrastructure. LOCATION

Enterprise Way is located in the northern suburbs of Luton and is approximately 4km to the north of the town centre off the A6 at the junction with Icknield Way. Leagrave Train Station is approx. 2 miles to the southwest of the site.

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The rectangular shaped site totals circa 5.1 acres (2.06ha) is bounded by Enterprise Way to the east, Quantock Rise to the west, with housing off Salcombe Green to the north and Whitwell Close to the south. The site is generally flat with a steep rise to Quantock Rise with stepped pedestrian access.

The site comprises one large high bay single storey building with car parking service areas to three sides. The majority of the building is laid out and used as classrooms, work areas, and ancillary accommodation.

The immediate area is commercial with Bramingham Business Park to the east whilst to the west of the site is a large Sainsbury’s supermarket and Bramingham Primary School. Immediately to the north of the site is family housing which giving the area as a whole a residential nature. PLANNING

Whilst the site is designated as a “Key Employment Area”, the Borough is seeking to remove this designation in the emerging Local Plan. The draft Plan is at an advanced stage and we are of the opinion that a case for various alternative uses can be made. In this instance, as College facilities will be reprovided elsewhere in the town centre, the loss of this use is also likely to be acceptable.

SCALE 1/1000 SIZE: 2.03 He CHALETS: 41units DENSITY: 50units/He HIGH HOUSE: 16units NORTH APARTMENTS: 45 units -TOTAL: 102units FURTHER INFORMATION An information pack has been prepared as part of this sale to include but not limited to; title information, pre application pack, floorplans and surveys.

All details can be accessed from the dataroom at: www.barnfield-luton.com

Method of Sale The sites are available via Informal Tender, either as a single lot or as two separate lots. Interested parties are advised to review all available documentation on the dataroom and submit their offers in accordance with the ITT provided. A bid date will be set in due course and all parties who have registered their interest will be notified at that point. Contacts

The Vendor is not bound to accept the highest and/or any offer. Andrew White - Residential Development Price 020 7344 6722 All offers are invited on both an unconditional and conditional basis. [email protected]

James Burke - Residential Development Tenure 020 7344 6964 The property is available Freehold with delayed Vacant Possession subject to the College’s relocation development being completed. [email protected]

VAT Iain McArthur - Residential Development VAT is not chargeable on this transaction 0121 265 7512 [email protected] Viewings Jon Manns - Planning Viewings are available strictly via prior appointment through sole agents Colliers International. Please enquiry directly with one of the 020 7344 6632 team should you wish to arrange a viewing. [email protected] Wayleaves, Easements & Rights of Way

The sites, outlined in red on the Ordnance Survey extracts (for identification purposes only), are to be sold subject to any rights of way, restrictions or easements, which may exist whether or not mentioned in these particulars. The sites are to be sold subject to any Planning Scheme or Development Plan or Agreement, Resolution or Notice, which may or may not come into force and subject to any statutory provisions or byelaws, without obligation on part of the vendor to supply them.

DISCLAIMER Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person employed or engaged by Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. June 2017. Colliers International is the licensed trading name of Colliers International Business Space UK LLP which is a limited liability partnership registered in England and Wales with registered number OC391631. Our registered office is at 50 George Street, London W1U 7GA.