Former Power Station BUILDWAS ROAD, IRONBRIDGE, Former Ironbridge Power Station BUILDWAS ROAD, IRONBRIDGE 01

Introduction The Opportunity The opportunity comprises the freehold An exciting opportunity has arisen to redevelop the former Power Station, totalling sale of the former Ironbridge Power approximately 140 hectares and it is anticipated that purchasers will be predominantly Station on an unconditional basis interested in residential as a future use. The scale of the site poses a significant development subject to existing occupational leases, opportunity for the Midlands Region. The site comprises power station structures, coal storage Environment Agency permits / licences. areas, former recreation grounds and an area of agricultural land.

The purpose of this document is to provide an overview of the development opportunity and the process the landowners intend to follow in disposing of the Ironbridge site. It provides an overview of the essential information on the development opportunity including: • Site opportunity • Planning • Disposal process • Project timeline • Key requirements Prospective purchasers wishing to express an interest in this opportunity should complete and return the pre- qualification questionnaire (PQQ) which can be obtained from the Agents.

Indicative site plan Former Ironbridge Power Station BUILDWAS ROAD, IRONBRIDGE 02

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1 The Location 4 A

Ironbridge is a town on the , at the A 41 69

heart of the in Shropshire.

B 9 43 416 The Ironbridge Power Station site is located on 8 A 0

the southern bank of the River Severn B uil dw a approximately 0.75 miles from Ironbridge town s R 3 o 437 a B and approximately 6.5 miles South West of d

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The Site M 4 4 1

The boundaries of the eastern part of the site lie 1 B43 6 6 7

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9 The Iron The immediately adjoining, but excluded from, the Bridge L lo y Ironbridge Gorge World Heritage Site. The d

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settlement of Buildwas lies approximately 0.5 b

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miles west of the former station. g

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Broseley Wood R

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A41A41A41 M6 Cannock

J4 Telford M54 J3 A449

M54 J2 J1 Ironbridge A41

A460 M6 A442 Wolverhampton Walsall

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A458 A41 A449 M5 Oldbury A442 Former Ironbridge Power Station BUILDWAS ROAD, IRONBRIDGE 03

Planning Context The site is located in the administrative The Development Plan is supportive of mixed use redevelopment of the site. It specifically recognises the area of Shropshire Council with the opportunity for renewal energy generation and tourism related development (complementary to the nearby exception of a small area of land east of World Heritage Site) as part of the mix of uses. the main site access which is located within the administrative authority of The Shropshire Plan partial review is at an early stage in production. There is an early opportunity to promote Borough Council. the site as a mixed use allocation through the partial review. The strategic site offers the potential to make a considerable contribution towards the housing requirement of Shropshire as part of a mix used development. Policy CS1 states that Shropshire requires 27,500 new homes by 2026, of which 9,000 will be affordable homes. Within the Eastern Spatial Zone between 3,075 and 3,575 dwellings and 30 to 40 hectares of employment land will be provided.

The availability of housing land will be reviewed in accordance with Policy CS10 which will be released with regard to re – use and development of brownfield sites.

Policy CS8 addresses facilities, services and infrastructure provision within Shropshire. The supporting text to the policy notes that:

“The coal fired power station at Ironbridge has come to the end of its life.

National energy policy emphasises the need to maintain energy supplies in Shropshire and the wider region in the interests of energy security. The redevelopment of the Ironbridge power station site may provide opportunities for renewable energy generation as part of a mixed use scheme, and will be considered in the light of Policy CS8.” Former Ironbridge Power Station BUILDWAS ROAD, IRONBRIDGE 04

Disposal Process The landowners will be conducting the disposal process in six stages which is outlined in further detail below. Cushman & Wakefield has been appointed to manage the marketing and disposal process specifically in relation to the financial, property and estate issues. Pinsent Mason are the appointed legal advisor and RPS are providing technical advice.

STAGE 01 Pre-Qualification APRIL 2017 STAGE 02 PQQ Submission MAY 2017 STAGE 03 PQQ Evaluation and Shortlisting 15 MAY – JUNE 2017 STAGE 04 Bidder Due Diligence JUNE – AUG 2017 STAGE 05 Receipt of Tenders and Evaluation 15 AUG – SEPT 2017 STAGE 06 Legal SEPTEMBER 2017 STAGE 07 Exchange of Contracts DECEMBER 2017

At pre-qualification stage bidders will be invited The shortlist will then be given the opportunity to Bidders will be required to mark up a draft to complete a pre-qualification questionnaire. view further documentation. Bidders will be contract and heads of terms as part of this The stage will principally review Track Record and required to enter into a confidentiality process and this will form part of the tender Financial Standing – details of the required agreement which will allow access into a data evaluation. financial metrics will be set out in the PQQ room. This stage will allow bidders to carry out document. their due diligence, consider their likely Following receipt of tenders and evaluation it is masterplan, remediation strategy and expected that the successful party will move to Questionnaires will be evaluated by the development appraisal. instruct lawyers in September 2017. landowner with assistance from their appointed advisors. Following evaluation, a shortlist of Bidders that make the shortlist phase will be bidders will be notified. issued with an invitation to tender with final tenders to be submitted by the end of August. Further Information For further information and to register your interest, please contact:

Cushman & Wakefield

David Tonks +44 (0)121 697 7313 [email protected]

Jonathan D Turner +44 (0)121 697 7372 [email protected]

7th April 2017 Cushman & Wakefield Debenham Tie Leung Limited ("C&W") gives notice to anyone who may read these particulars as follows: 1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property only and do not constitute any part of an offer or contract. 2. Any information contained in these particulars (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact or that the property is in good condition or otherwise nor that any services or facilities are in good working order. 3. The photographs appearing in these particulars show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. Any areas, measurements or distances referred to herein are approximate only. 4. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser. 5. No person in the employment of C&W has any authority to make or give any representation or warranty whatsoever in relation to this property. 6. This property is offered subject to contract and unless otherwise stated all rents are quoted exclusive of VAT. 7. Unless otherwise stated, no investigations have been made by or on behalf of C&W regarding pollution, or potential land, air or water contamination. Interested parties are advised to carry out their own investigations as required.