Indicative Visualisation
Racal House, Eastern Road, Bracknell, Berkshire RG12 2UP Residential Development Opportunity For Sale www.kingsbury-consultants.co.uk Racal House, Eastern Road, Bracknell, Berkshire RG12 2UP
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS
SUMMARY
• Former office building and car park occupying a site of circa 0.85 acres
• Planning permission for a 5-storey new build scheme comprising 60 residential units for private sale (24 x 1 bed and 36 x 2 bed apartments) totalling 42,228ft2 GIA
• Popular location approximately one mile from Bracknell Station and the town centre
• Offers invited in excess of £5,000,000 for the freehold interest www.kingsbury-consultants.co.uk Racal House, Eastern Road, Bracknell, Berkshire RG12 2UP
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS
DESCRIPTION
The existing property comprises a 2-storey office building (B1 Use Class) extending to approximately 18,586ft2 which is currently in a poor state of repair. The site area extends to circa 0.85 acres and incorporates a surface level car park for approximately 51 vehicles, some outbuildings and associated land. The site is accessed directly from Eastern Road, which comprises a mix of commercial, industrial and residential uses. To the immediate west of the site, Redrow are currently developing 123 apartments (nearing completion) whilst Belgrave Homes are developing 14 houses to the immediate east (construction recently started).
LOCATION
The property is located on Eastern Road in Bracknell, a town of approximately 80,000 people located in Berkshire, approximately 34 miles to the west of Central London and 11 miles to east of Reading.
The site is situated approximately one mile from Bracknell town centre which is host to numerous shops, restaurants and amenities, as well as Princess Square Shopping Centre.
Bracknell Station is located approximately 0.9 miles from the property, providing direct National Rail services to Central London (Waterloo in circa one hour) and Reading Station, which operate Crossrail / Elizabeth Line services from December 2019.
The Local Authority is Bracknell Forest Council. www.kingsbury-consultants.co.uk Racal House, Eastern Road, Bracknell, Berkshire RG12 2UP
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS
DEVELOPMENT POTENTIAL
Planning permission was granted on 24th February 2017, under reference 16/00626/FUL, for redevelopment of site to provide 60 residential units (24 x 1 bedroom and 36 x 2 bedroom Redrow Scheme apartments) within a part-three, four and five storey building. - 123 Units All units will be for private sale with no requirement for Affordable Housing. The planning RACAL consent is subject to Section 106 financial contributions of £115,452. HOUSE The proposed scheme incorporates 64 parking spaces within a basement and a separate parking area at ground floor level, which will be accessed via Eastern Road. Belgrave Homes Scheme - 14 Houses The online planning application can be found here.
Floor Description Number Average GIA ft2 Average GIA m2
Ground 1 Bedroom Apartment 7 557 52
Ground 2 Bedroom Apartment 7 804 75
1st 1 Bedroom Apartment 6 556 52
1st 2 Bedroom Apartment 9 801 74
2nd 1 Bedroom Apartment 6 556 52
2nd 2 Bedroom Apartment 9 801 74
3rd 1 Bedroom Apartment 5 555 52
3rd 2 Bedroom Apartment 8 790 73
4th 2 Bedroom Apartment 3 836 78 PROPOSED ELEVATION
Total 60 42,228 3,923 www.kingsbury-consultants.co.uk Racal House, Eastern Road, Bracknell, Berkshire RG12 2UP
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS
TENURE
The property is to be sold freehold with vacant possession upon completion.
VAT
We understand that the property is elected for VAT.
TERMS
Offers are invited in excess of £5,000,000.
ADDITIONAL INFORMATION Indicative Visualisation
Further information including approved planning documents can be downloaded from our dataroom using the password ‘Racal’.
CONTACT
To discuss this opportunity further, please contact the sole selling agents: Paul Heale 020 7183 2529 [email protected]
Keir Goldstein 020 7183 2529 [email protected]
Kingsbury 1st Floor, 81 Alie Street, London E1 8NH
Kingsbury on their own behalf and on behalf of the Owner / Landlord of this property whose agents, gives notice that this document does not constitute any form of contract for sale or Indicative Visualisation lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: 06869268.