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EXCEPTIONAL DEVELOPMENT OPPORTUNITY

Summary

• Grade II listed manor house with stunning views across the Thames Valley

• c115,000 sq ft (GIA) including ancillary buildings

• Set in c93 acres of formal gardens and parkland

• Less than 0.5 miles (5 min walk) to a wide range of local amenity, including supermarket, shops, restaurants and pubs

• 2 miles from central Reading

• Suitable for conversion to residential or a range of alternative uses (stpp)

• Potential for new development within grounds (stpp)

Heritage

EARLY PERIOD AND 18TH CENTURY 19TH – 20TH CENTURY BBC ACQUISITION MIDDLE AGES A £130,000 building programme was started The house burnt to the ground in 1850 and A fire caused serious damage to the roof in The site was established by the Anglo- in the early 18th century following the William was later re-built in a classical style around 1926 and following ongoing financial struggles, Saxons, who built the first manor house Cadogan’s purchase of the site. It was during an iron frame, designed by architect Horace and the outbreak of WWII, Caversham Park near Caversham Bridge. Following three this period Caversahm Park was arguably at Jones. This version of the manor house is what was sold to the BBC in 1941, when it became generations of Norman control, the site came its height with formal gardens, deer park and survives today (to varying degrees). the headquarters of BBC Monitoring from under the ownership of the Richard de Clare, views down to the Thames alongside avenues 1943. Taxes and WWI forced Caversham Park to Duke of Pembroke in 1164. Following which, to the north. be put up for sale in 1920. Its subsequent A large proportion of the park was sold off control fell into the hands of William Marshal, The house and grounds passed to sale to investors in 1921 saw the 1,800 acre in the 1960s for housing development, when whose sons turned the 300 acre property into Cadogan’s brother in the 1760s, during property sub-divided, with the mansion and it became Caversham Park Village, with a hunting park during the early 13th Century. which time Lancelot ‘Capability’ Brown was park sold to the Oratorians in 1922 who turned relatively extensive refurbishments being The park was then handed back to the de commissioned to refashion the park in his the site into the Oratory School. During this undertaken during the 1980s and 2007. Clares and then passed on to the Despenser Picturesque style. period the house was extended to include family in 1314, who lost it to the Crown during the ancillary buildings to the west and an Major Charles Marsac bought the property the War of the Roses. extension of the chapel to the east. in 1784. Following which, Caversham Park TUDOR PERIOD suffered a period of decline, with the leasehold of what was by then a ruin being sold in 1838 In 1542 the lease for Caversham was given to William Crawshay II, who purchased the to Francis Knolly, who was one of the first freehold in 1844. members of Henry VIII’s formal bodyguard. Knolly started to build the first manor house at Caversham Park, which was finished by his son William, who entertained Queen Elizabeth I there in 1601.

Reading

Reading is one of the most vibrant Reading was named the best place urban centres in the UK and is the to live and work in PwC’s Good largest economic and commercial Growth for Cities Index of the 36 centre in the South East, outside largest economic areas in the UK. of London. Reading has emerged It has benefited from substantial as the focus of economic growth inward investment, focusing and investment in the Thames around a number of regeneration Valley, which boasts the European projects which have provided and Global headquarters of more further retail and leisure facilities. than 200 Fortune 500 companies Major infrastructure improvements, and is home to a further 42,000 including the £895 million businesses. Reading itself is home redevelopment of Reading Station, to world leaders in finance, IT, have also benefitted the town. global communications and a Transport connectivity is poised to high concentration of FTSE 100 benefit further from the opening of companies. Crossrail in 2019, the electrification of the Great Western Railway and Reading is located approximately 40 the recently confirmed expansion of miles west of Central London and 27 Heathrow International Airport. miles west of Heathrow International Airport. Its proximity to London and strategic position within the Thames Valley attracts a highly affluent and educated Workforce, which is also supported by world-class universities such as the University of Reading and Oxford University.

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Road

Reading is located adjacent to the M4 Motorway (Junctions 10, 11 & 12) providing excellent transport links to Central London and to the West of England. The M4 Motorway also links directly to the M25 Motorway (Junction 15) which provides access to the wider motorway network.

ROAD LINKS Distance

M4 (J11) 5 miles M40 A40 Reading Town Centre 2 miles LONDON SLOUGH M25 A4074 THAMES M25 (J15) 23 miles PADDINGTON

Heathrow Airport 26 miles M4 CAVERSHAM WINDSOR WATERLOO Gatwick Airport 63 miles HEATHROW READING AIRPORT A329(M) Bristol 82 miles M4 M4 J12 London 40 miles J10 BRACKNELL M3 J11 A322 A4 A3

M25 A33 M3 M25

GATWICK AIRPORT M23

Rail

Reading Mainline Railway Station, included the addition of five new which is to form the western platforms, retail outlets, a new link terminal for Crossrail in 2019, is one bridge and two new entrances. of the busiest rail hubs in Britain Network Rail are electrifying the with over 20 million passengers a Great Western Main Line between year. Reading connects to London London, Oxford, Bristol and Cardiff. Paddington to the east, Birmingham The electrification, in conjunction to the north and Cardiff to the west. with the introduction of new trains, At peak travel times direct services will improve journey times and run to London Paddington every 10 capacity on this important route. minutes with a fastest journey time of 25 minutes. Reading Mainline Railway Station was substantially upgraded in 2014 by way of a £895 King’s Cross million redevelopment. The works To Birmingham St Pancras Liverpool Street Eurostar Stansted Express

Oxford READING Maidenhead Slough Ealing Broadway To Wales Paddington & Heathrow Express the West RailAir direct coach service

Heathrow Bracknell Victoria Airport Basingstoke Gatwick Express RAIL LINKS Waterloo Journey time Clapham Junction To Southampton London Paddington 25 mins Richmond Canary Wharf East Croydon To City Airport

London Waterloo 65 mins London Underground London Bridge British Rail Heathrow Airport 45 mins Crossrail / Elizabeth Line Guildford Gatwick Airport link Oxford 23 mins Airport Airport Southampton Central 55 mins River taxi Eurostar

Crossrail

Crossrail will be fully operational from 2019 and Reading, as the Western Terminus, will offer direct services to 40 stations and up to 16 trains per hour to Central London with journey times of just 53 minutes to Bond Street and 61 minutes to Liverpool Street.

Gatwick Airport

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Air

Heathrow International Airport is the fourth busiest airport in the world and has recently been selected as the preferred airport expansion destination by the UK government. The expansion proposal will see capacity increase to 130 million passengers a year.

Heathrow is located approximately 27 miles east of Reading and can be accessed directly via the M4 motorway in a journey time of around 30 minutes. Alternative airports offering both domestic and international services include Gatwick, Luton, Southampton and Birmingham International. Summary | Heritage | Location | Transport | The property | The opportunity | Planning | Method of sale | Contact

The property consists of a Grade II listed manor The immediate surrounding areas consist of The property is in the ownership of the BBC, with The property house that is set within c93 acres of grounds. The mid-late twentieth century low density residential the manor house currently used largely as offices, manor house and landscaped garden are situated development known as Caversham Park Village. occupied by BBC Monitoring and BBC Radio in the northern half of the site boundary and lie on Berkshire. The site is bounded on the north, east and west a plateau, at the top of a south-east-facing slope. via vehicular roads; Peppard Road on the western The postcode for the property is RG4 8TZ. The southern part of the site consists of gently boundary and Lowfield Road on the north and sloping meadow land that, until recently, has been east. There is currently one vehicular access into used for grazing. the Caversham park grounds and manor house which is situated on Peppard Road. The entrance is fronted by a gate leading onto Caversham Park Drive. More about the property >> Summary | Heritage | Location | Transport | The property | The opportunity | Planning | Method of sale | Contact

Buildings

The existing buildings on the site In major building works in the comprise the main Grade II Listed 1980s, the BBC Architectural & Civil stately home, a small collection of Engineering Department restored post-war outbuildings that have the old interior, removed utilitarian been added around the western brick buildings put up alongside the wings of the main house, and former east side of the mansion during the gatekeeper and staff houses beside war, converted the existing orangery the historic gatehouse. for use as a canteen and editorial offices, and built a large new two The three-storey ashlar house was storey west wing housing the built in 1850 by architect Horace listening room. This included a new Jones who was inspired by Italian glazed atrium facing the original baroque palaces. The house was stable block. constructed in a Neo-Georgian style, illustrating the continued trend for Classical design during the mid-19th century and of the houses located at Caversham Park. AREA SCHEDULE

Manor House

Floor GEA (sq m) GEA (sq ft) GIA (sq m) GIA (sq ft) NIA (sq m) NIA (sq ft)

Ground floor 5,291 56,952 4,937 53,141 3,365 36,221

First floor 3,826 41,183 3,532 38,018 1,985 21,366

Upper first floor 256 2,756 180 1,938 62 667

Second floor 1,030 11,087 920 9,903 526 5,662

TOTAL AREA 10,403 111,977 9,569 103,000 5,938 63,916

Ancillary buildings

Floor GEA (sq m) GEA (sq ft) GIA (sq m) GIA (sq ft)

Ground floor 1,208 13,003 1,119 12,045

TOTAL AREA 1,208 13,003 1,119 12,045 Approximate areas

Grounds

The site consists of a substantial The formal garden and pleasure amount of green open space, as ground sit north of a dense tree well as some significant tree cover. line and beyond this the large open The northern section of the site sits meadow. Pockets of green space are upon a plateau that is now largely hidden out of view from the house, given over to playing fields with behind the dense tree cover. There is trees planted around the northern a lake situated just to the south west perimeter. A large carpark takes of the main house, surrounded by up a significant proportion of land woodland. directly in front of the house. Summary | Heritage | Location | Transport | The property | The opportunity | Planning | Method of sale | Contact

The opportunity

As well as the existing use as offices, the house and grounds are potentially suitable for a range of alternative uses (subject to planning) including;

• Residential

• Retirement

• Assisted / Care

• Hotel

• Leisure

• Education

• Healthcare

Approximate site boundary

The Manor House

There is potential to convert the The modern elements of the main building back into a single property amount to approximately dwelling, or for division into a 28,000 sq ft (GIA), the footprint of number of individual apartments. which (if demolished) could then be replaced by way of an extension, or A study by Owal Architects detached building, more in keeping has shown that, on the basis of with the rest of the main house. demolition of the more modern parts of the property, there is potential for around 48 units in the remaining historic element of the building.

To Be Residential Unit GIA Demolished 200sqm To be demolished UnitTo Betype To Be Demolished Demolished 200sqm 1 bed 4 170sqm

To Be To Be 2 bed 32 Demolished Demolished 400sqm 3b6p 139 sq.m 170sqm 3 bed 11

To Be 3b6p 2b4p 2b4p Demolished4 bed 1 144 sq.m 71 sq.m 78 sq.m 400sqm 3b6p 139 sq.m Total 48 To Be

STORWALL To Be Demolished To Be Demolished 3b6p 2b4p 2b4p 300sqm Demolished To Be 1b2p 232sqm 144 sq.m 71 sq.m 78 sq.m 180sqm Demolished 3b6p 3b6p

STORWALL 72 sq.m 273sqm 149 sq.m 126 sq.m Storage 1b2p 2b4p 2b4p To Be 77sq.m

STORWALL To Be85 sq.m 80 sq.m To Be Demolished To Be Demolished Demolished To Be Demolished 300sqm 232sqm 1b2p Storage Storage 180sqm Demolished 3b6p 3b6p 84sqm STORWALL 72 sq.m 2b4p 2b4p To Be 273sqm 2b4p 4b6p 149 sq.m 126 sq.m Storage 3b6p 2b4p 79 sq 67 sq Demolished 1b2p To Be 141 sq.m 251 sq .m .m 3b6p 2b4p 2b4p 2b4p 2b4p 1462b4p sq.m .m 1312b4p sq .m 173sqm 77sq.m Demolished 119 sq.m 103 sq.m 2b4p 102 sq.m 100 sq.m 104sq.m To Be 85 sq.m 80 sq.m 2b4p To Be 99 sq.m (Incl.Mezz) Demolished 110sqm 157 sq.m 3b6p (Incl.Mezz) (Incl.Mezz) Demolished 131sqm 122 sq.m Storage Storage 84sqm 2b4p 2b4p To Be 3b6p 2b4p 4b6p Em Exit 2b4p 79 sq.m 67 sq.m 2b4p Demolished To Be 146 sq.m 141 sq.m 251 sq.m 3b6p 2b4p 2b4p 2b4p Example layout Demolished 131 sq.m 119 sq.m 2b4p 102 sq.m 100 sq.m 104sq.m 173sqm To Be 103 sq.m 2b4p 99 sq.m (Incl.Mezz) Demolished 110sqm 157 sq.m 3b6p (Incl.Mezz) (Incl.Mezz) 131sqm 122 sq.m

Em Exit

More about the opportunity >>

Residential Unit GIA

New build

The vendor’s professional team have undertaken a study into the scope for new build development within the grounds of the property, taking into account a range of aspects including; planning policy, heritage, arboriculture, ecology and transport. Several areas have been identified as having potential for new development, largely around the northern perimeter of the property.

Indicative unit numbers

Gateway – 6 units

Caversham Drive – 21 units

Park Mews – 20 units

Woodland Park Road – 4 units

Archive Court – 23 units

Planning

Following review of policy and consultation with the Council, the vendor’s professional team is of the view that the conversion of the house and adjacent buildings to residential use, alongside sympathetic residential development in selected parts of the northern area of the site, offers a sustainable and much needed development solution.

Two pre-application meetings were held between the vendor’s professional team and Reading Borough Council, the detail for which can be found within the data room. Other information available within the data room includes;

• Heritage Report

• Traffic Report

• Ecology Report

• Topographical Survey

Method of sale

The property is offered for sale by way of informal, non-binding tender with the vendor reserving the right not to accept the highest or any offer, and also reserving the right to withdraw the property from sale or to vary the method of sale at any time without notice. In the event that a number of competitive offers are received, the vendor reserves the right to request ‘best and final’ offers from selected parties.

TENURE

The property will be sold part freehold and part virtual freehold (999 year lease), with full vacant possession.

VAT

Contact and further information

DATA ROOM

Further technical, legal and planning information is available to download from the data room. Interested parties must request access details.

VIEWING

Viewing is strictly via appointment only, with the vendor’s sole selling agent.

ADDRESS

Caversham Park, Peppard Road, Reading, RG4 8TZ

ALL ENQUIRIES

Philip Hunter Robert Neaverson E: [email protected] E: [email protected] D: 0118 960 6911 D: 020 7198 2189

Nigel Philp Matthew Green E: [email protected] E: [email protected] D: 0207 198 2350 D: 020 7198 2081 www.cavershampark.co.uk

DISCLAIMER: These Particulars are believed to be correct at June 2017, but the Developer reserves the right to change the scheme in the future. However, the Vendors/Lessors and Agents of this property give notice that: (1) These Particulars are intended as a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract. (2) They cannot guarantee the accuracy of any description, dimension or other details contained in these Particulars and prospective purchasers or tenants should not rely on them as statements of fact or representation, but must satisfy themselves as to the accuracy of such details. (3) No employee of the Agents has any authority to make or give any representation or warranty, or enter into any contract whatsoever in relation to the property.