A New Community of 3,000 Homes in Wellingborough, Northamptonshire R2
A NEW COMMUNITY OF 3,000 HOMES IN WELLINGBOROUGH, NORTHAMPTONSHIRE R2
INTRODUCTION R3 CRICKET LOCATION PITCH
MASTERPLAN
OPPORTUNITY
MARKET NIORT WAY
TECHNICAL INFORMATION
SALES TERMS
TENDER PROCESS / CONTACT
A509
FOR SALE EXCLUSIVE OPPORTUNITY TO DELIVER THE INITIAL DEVELOPMENT PARCELS (R1-R3 AND R5 & R6) OF A VIBRANT NEW MIXED USE COMMUNITY TO THE NORTH OF WELLINGBOROUGH. iBrochure www.cbre-ibrochure.co.uk/glenvalepark For Sale / Phase 1 Glenvale Park, Wellingborough
R1 R2 R5
CRICKET PITCH COMUNITY CENTRE
R6
Residential Parcel Boundary (parcels R1 / R2 / R3 / R5 / R6)
Initial Primary Infrastructure – completion end of 2016
Primary school – completion is September 2017
Proposed Local Centre – anticipated commencement 2016
Glenvale Park planning permission is comprised of: Parcel Size Size Indicative 3,000 new homes; (ha.) (acre) Capacity 25,000 m2 of high quality commercial; Retail, health and leisure facilities; R1 3.34 8.25 128 Considerable formal and informal public open space. R2 1.9 4.70 73 Located in the North Northamptonshire growth corridor with train services depart twice an hour to London St Pancras with journey times R3 0.36 0.89 14 of 45 minutes as well as excellent local and regional road links. R5 4.36 10.77 167 Primary school will be opening 2017 and phase 1 initial primary infrastructure to be completed by end of 2016. R6 4.24 10.47 162 The initial residential parcels (R1-R3 and R5 & R6) are being offered on a fully serviced basis and will be ready for housing construction to TOTAL 14.2 35.08 544 commence in mid-2016. (490 private) 10% affordable housing in all initial phases.
Offers are being sought on individual parcels. INTRODUCTION
LOCATION
MASTERPLAN
OPPORTUNITY
MARKET
TECHNICAL INFORMATION
SALES TERMS
Fly pass TENDER PROCESS / CONTACT A509, Niort Way / Parcels R1, R2, R3, R5, R6
INTRODUCTION THIS NEW COMMUNITY COMPRISES 3,000 NEW HOMES; 2 PRIMARY SCHOOLS; 1 LARGE NEIGHBOUR CENTRE AND 2 SMALLER LOCAL CENTRES; A NEW BUSINESS CAMPUS SET; ALL SET WITHIN SIGNIFICANT FORMAL PUBLIC OPEN SPACE AND INFORMAL MATURE PARKLAND.
iBrochure www.cbre-ibrochure.co.uk/glenvalepark For Sale / Phase 1 Glenvale Park, Wellingborough
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R5 (existing development)
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R3 R2
Masterplan The Glenvale Park urban extension is located on the northern fringe of Wellingborough. The planning permission was granted for the delivery of up to 3,000 new homes along with extensive community facilities and commercial space over 3 phases with distinct character areas. The masterplan is set in mature countryside and the development will be sensitively integrated within this context. The scheme also benefits from the strong existing amenities and infrastructure of Wellingborough which will be further enhanced as part of the development and the wider growth plans for the region. The scheme provides the opportunity to be part of an exciting new community within a prosperous growth region. INTRODUCTION
LOCATION
> LOCATION MAP
> STREET MAP
> GALLERY
MASTERPLAN
OPPORTUNITY
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SALES TERMS
TENDER PROCESS / CONTACT
LOCATION GLENVALE PARK PROVIDES SIGNIFICANT FORMAL AND INFORMAL OPEN SPACE WITH AN OVERALL NET DEVELOPABLE AREA OF LESS THAN 40%.
Glenvale Park is located to the north of Wellingborough, Wellingborough Station (East Midlands Trains) is to the Northamptonshire. Wellingborough forms part of the east of the town centre and boasts a regular (twice hourly) growth region of North Northamptonshire, along with service South to London St Pancras International Station the towns of Kettering and Corby, which has strategic (with journey times as little as 45 minutes) as well as significance within Central Government. regular services North to Leicester, Nottingham, Derby and Sheffield. The town is also within an 80 mile radius of five Surrounded by towns including Northampton, Milton international airports. Keynes and Bedford, the location is well served by an excellent road network accessed via the A45, including the M1 (J15/15A) to the North and South and the A14 (J9) to the East and West. iBrochure www.cbre-ibrochure.co.uk/glenvalepark For Sale / Phase 1 Glenvale Park, Wellingborough
IRCHESTER COUNTRY PARK
FINEDON ROAD REDHILL WELLINGBOROUGH INDUSTRIAL TOWN CENTRE GLENEAGLES ESTATE GRANGE
WELLINGBOROUGH WELLINGBOROUGH GOLF CLUB STATION VICTORIA RETAIL A509 A509 PARK LEADING LEADING A14 (J9) A45 3 MILES RUSHDEN A5193 A45 3 MILES
R3 R2
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R6 R5 M1
LEICESTER
M42 PETERBOROUGH
INTRODUCTION M69
LOCATION BIRMINGHAM M6 KETTERING A14 HUNTINGDON > LOCATION MAP
A14 > STREET MAP M40 A45 NORTHAMPTON
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MASTERPLAN A1(M) MILTON KEYNES OPPORTUNITY
MARKET M1
TECHNICAL INFORMATION M11
SALES TERMS M25
TENDER PROCESS / CONTACT
LONDON M4 M25
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Major cities Birmingham and Cambridge are situated to the north west and south east within circa one hour’s drive with London only a further circa thirty minutes by car. Milton Keynes is also located within close proximity, 20 miles to the south, approximately 35 minutes’ drive. The East Midlands Airport and Birmingham Airport are around an hour’s drive from Wellingborough, and London Luton and London Stansted are both approximately an hour and a quarter by car. Wellingborough is well connected to the national motorway network via the M1 and the A1 road links; these are approximately 15 miles to the west and 25 miles to the east respectively.
iBrochure www.cbre-ibrochure.co.uk/glenvalepark For Sale / Phase 1 Glenvale Park, Wellingborough
R6 A509 A510 R5
A510
R1 R3 R2
A5193
TOWN CENTRE
A5128
A45
A509
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VIEW OPENSTREETMAP.ORG
Location from Glenvale Park Distance (Miles)
Towns London 68 Birmingham 63 Cambridge 47 Peterborough 34 Milton Keynes 21
Airports Birmingham International Airport 54 East Midlands Airport 60 London Luton Airport 48 London Stanstead Airport 70 London Heathrow Airport 77 INTRODUCTION
LOCATION
> LOCATION MAP
> STREET MAP
> GALLERY
MASTERPLAN
OPPORTUNITY
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TECHNICAL INFORMATION
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TENDER PROCESS / CONTACT
Wellingborough Town Centre
Market Square, Wellingborough Wellingborough Golf Club
iBrochure www.cbre-ibrochure.co.uk/glenvalepark For Sale / Phase 1 Glenvale Park, Wellingborough
Wellingborough Train Station
Wellingborough Museum and The Castle
Croyland Park, Wellingborough Wellingborough School
Castlefields Retail Park, Wellingborough INTRODUCTION
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MASTERPLAN
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TENDER PROCESS / CONTACT
MASTERPLAN PLANNING PERMISSION WAS GRANTED FOR A NEW RESIDENTIAL COMMUNITY; SPECIFICALLY 3,000 NEW HOMES, C. 25,000 M2 OF COMMERCIAL, HEALTH AND LEISURE SPACE – ALL IN CONJUNCTION WITH A SUBSTANTIAL PROVISION OF PUBLIC AMENITY AND COMMUNITY SPACE.
iBrochure www.cbre-ibrochure.co.uk/glenvalepark For Sale / Phase 1 Glenvale Park, Wellingborough
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R5 (existing development)
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The approved Masterplan provides the following across Two new primary schools to provide for the new community. three distinct development phases: The first primary school is being delivered alongside the initial infrastructure and is set to open in September 2017. A mixed-use neighbourhood centre, comprising shops, restaurants, bars and cafes, community and local leisure A business campus for office and other business (B1) uses facilities and offices to meet the needs of the new offering up to 25,000 sqm of high quality employment space. community and will also be accessible to existing residents. A privately managed formal open space facility at the heart
It is anticipated that this centre will be delivered alongside of the overall scheme which is to be delivered alongside the the initial residential phases. initial infrastructure. Two smaller local centres, to meet the day-to-day needs Significant informal public open space and mature parklands of each residential area. These centres will be delivered to be delivered on a phased basis to service the overall in Phases 2 and 3 to supplement the offer of the core scheme. neighbourhood centre. R2
INTRODUCTION R3 CRICKET LOCATION PITCH
MASTERPLAN
OPPORTUNITY
MARKET NIORT WAY
TECHNICAL INFORMATION
SALES TERMS
TENDER PROCESS / CONTACT
A509
OPPORTUNITY
In January 2015, the Promoters submitted a reserved matters The residential plots in the initial launch are detailed below, application for the first development parcels (R1, R2 & R3) including indicative capacities based assumed density of 15.5 of Glenvale Park (planning ref WP/15/00015/REM). The units per acre. application is due to be determined at the June planning The local centre and primary school will also be delivered committee. The application seeks detailed consent for access, alongside these initial parcels by the Promoters. There is appearance, layout, scale and landscaping across the parcels. strong interest in the local centre from a variety of high It should be noted there is no requirement for house builders quality occupiers which will provide significant benefits to the to build-out these schemes, however, should this be the initial residential parcels. preference, the layout plans and copyright can be novated.
iBrochure www.cbre-ibrochure.co.uk/glenvalepark For Sale / Phase 1 Glenvale Park, Wellingborough
R1 R2 R5
CRICKET PITCH COMUNITY CENTRE
R6
Residential Parcel Boundary (parcels R1 / R2 / R3 / R5 / R6)
Initial Primary Infrastructure – completion end of 2016
Primary school – completion is September 2017
Proposed Local Centre – anticipated commencement 2016
The parcel(s) are to be sold as fully serviced parcels, whereby the Promoter, Northants LLP, will commit to deliver all necessary Parcel Size Size Indicative (ha.) (acre) Capacity services to the boundary at an agreed point, along with highways realignment to individual phases; R1 3.34 8.25 116 10% affordable housing is to be provided in each phase; R2 1.9 4.70 56 A restructured s106 is being finalised with a financial contribution of c. £10,000 per unit, payable on a roof tariff basis. R3 0.36 0.89 14
R5 4.36 10.77 160
R6 4.24 10.47 155 INTRODUCTION
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WELLINGBOROUGH RESIDENTIAL MARKET
Wellingborough has all the key fundamentals and is well cultural and leisure activity. Situated just over ten minutes placed to accommodate growth. It is well served by road from Wellingborough station, the Glenvale Park scheme and rail, and a varied retail centre, local health services, is well placed to take advantage of the London commuter further education provision, and a full range of leisure spill, particularly in the context of affordability constraints and recreation facilities. It is also an increasingly popular within the capital itself. commuter destination, with a regular rail service into St Currently, Wellingborough is a market town, with a population Pancras in as little as 45 minutes, but house prices are well of around 77,000. This is expected to increase by 8% over the below the average for towns that share this commute. next ten years, a rate broadly in-line with regional expectations, Wellingborough’s status as a commuter destination and which will equate to an additional 6,000 living in the has increasing relevance with the comprehensive borough over the next ten years. Household growth is redevelopment of the Kings Cross area and its expected to outstrip population growth over the next ten transformation into a hub of employment, education, years, which will put further pressure on local housing stock. iBrochure www.cbre-ibrochure.co.uk/glenvalepark For Sale / Phase 1 Glenvale Park, Wellingborough
Average house prices in Wellingborough are currently Helping to underpin the residential market, Wellingborough around £160,000, which is similar to the regional average. has a strong employment offer. In 1983 the town was The wider market improvements are filtering through to granted an Enterprise Zone which quickly grew to be one of pricing; average values in Wellingborough increased by 3% the most successful Zones in England and is now one of the over the last year, which is the sharpest increase since most established employment bases in the Midlands. pre-recession times. Wellingborough is home to nearly 3,000 businesses, In addition, affordability remains extremely favourable including the Head Offices of Booker and Whitworths, as in Wellingborough compared with the rest of the well as household names such as House of Fraser, Monsoon, country; although average earnings are also lower, this is Open University and Budgens. Investors in the town include disproportionate to the relatively low average house price. Axa Sunlife, Unilever, Standard life, British Airways Pension Fund, Aviva and many more. The new build market currently makes up around 4% of all activity (Q4 2014). However, this is stock-constrained, Development of the towns employment base continues with a marked slow-down in development activity over the with a number of significant sites now coming forward last few years. Reflecting the shortage of supply against a for commercial development bringing with them new considerable (and growing) backlog of demand, there is a opportunities for employment and giving the town a strong substantial premium for new build property. At Q4 2014, and balanced mixed-use foundation when combined with these were trading at an average of 23% above second- the release of land for residential development. hand stock. This is well above the national average at 7%. INTRODUCTION
LOCATION
MASTERPLAN
OPPORTUNITY
MARKET
TECHNICAL INFORMATION
SALES TERMS
TENDER PROCESS / CONTACT
TECHNICAL INFORMATION
Technical information is available for download in the Glenvale Park Data Room: www.cbre-ibrochure.co.uk/glenvalepark/dataroom
CLICK HERE TO ACCESS GLENVALE PARK DATA ROOM >
iBrochure www.cbre-ibrochure.co.uk/glenvalepark For Sale / Phase 1 Glenvale Park, Wellingborough
SALES TERMS
The initial residential parcels are being offered on the following basis: Fully serviced parcels are anticipated to be ready for commencement mid-2016. Offers are sought subject to “reserved matters” and “delivery of serviced parcels”. Deferred payment profiles are acceptable to assist with return on capital employment hurdles.
Offers are sought for individual parcels. FOR MORE INFORMATION PLEASE CONTACT THE FOLLOWING:
Chris Georganas 020 7182 2276 [email protected]
Toby Box 020 7182 2542 [email protected]
Jasper Masters 020 7182 2158 [email protected] TENDER PROCESS Henrietta House, Henrietta Place London W1G 0NB
The sites are being offer for sale via informal tender. www.cbre.co.uk Offers are to be submitted to CBRE by 12 noon on Wednesday 17th June 2015.
VAT VAT will be chargeable on the purchase price at the prevailing rate.
VIEWINGS
Viewing days are to be arranged by appointment. These will Simon Toseland consist of a guided tour of the whole site. All appointments 01933 22 33 00 should be made by prior arrangement. [email protected]
Ian Harman 01604 492 000 [email protected]
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 2015.
For Sale / Phase 1 Glenvale Park, Wellingborough