8 July 2021

Sent by Email Tim Watson E: [email protected] DL: +44 (0) 1865 269 144

Wytham Court 11 West Way OX2 0QL T: +44 (0) 1865 269 000 F: +44 (0) 1865 269 001 savills.com Dear Sir / Madam,

LAND ON THE NORTH SIDE OF CRANFIELD ROAD, , , MK16 0HD

• Strategic development opportunity in Moulsoe, Newport Pagnell;

• Greenfield land extending to a total of 7.42 acres (3 hectares);

• Potential for development, subject to planning;

• Offers are invited by 12:00 noon on Thursday 26th August 2021.

Savills (UK) Ltd has been formally instructed to seek proposals for the above strategic development opportunity on the edge of Moulsoe, Newport Pagnell.

The method of selection is to be by way of informal tender, and we are pleased to write to you setting out brief details for your consideration. Further details regarding timescales and information required in support of your bid are set out in the relevant sections below. Please note that the Vendor is not bound to accept the highest or any other offer.

LOCATION

The Site is located within Moulsoe a village and parish in the Borough of , close to the border with and with a population of approximately 300 (2011 census). The Location Plan on the following page shows Moulsoe in relation to the surrounding settlements.

The (Junction 14) passes circa 2.4 km (1.5 miles) to the south west, while lies 8 km (5 miles) to the south west and provides a full range of services and amenities. Further facilities can be found in the nearby of Newport Pagnell, 7.5 km (4.7 miles) to the North West.

THE SITE

The site currently comprises an area of agricultural land extending to circa 3 hectares (7.42 acres) and located to the north of Cranfield Road on the eastern edge of the village. A plan showing the indicative site boundaries edged red is included on the following page.

The landholding is broadly square and is bounded to the north, east and west by mature hedgerows with open countryside beyond. The southern boundary of the site is bounded by Cranfield Road, with the main built up area of Moulsoe located to the south and west of the site. There are also three residential dwellings immediately to the north which are accessed separately via Wood End Lane. The Grade II Listed Carrington Arms public house and the Millennium Hall are located directly opposite the site to the south.

Offices and associates throughout the Americas, Europe, Asia Pacific, Africa and the Middle East. Savills (UK) Limited. Chartered Surveyors. Regulated by RICS. A subsidiary of Savills plc. Registered in No. 2605138. Registered office: 33 Margaret Street, London, W1G 0JD

Location Plan

Not to Scale

PLANNING

The land is located within the administrative boundary of Milton Keynes Borough, which is covered by the Milton Keynes Local Plan (adopted March 2019). The site is located outside the development boundary of Moulsoe within “open countryside” and is therefore subject to restrictive development policies (DS5). It is not subject to any other specific designations.

Moulsoe falls within Tier 3 of the Settlement Hierarchy as a Village / Rural Settlement, where development is expected to take place in compliance with made Neighbourhood Plans. Moulsoe does not currently have a made or emerging Neighbourhood Plan.

The site is of rural character and the services available in Moulsoe are limited to a pub, hall and church. Nevertheless, the settlement is served by a good bus service and is in close proximity to a number of larger settlements including Milton Keynes, Cranfield / Wharley End and Newport Pagnell. These settlements provide a wide variety of amenities, services and employment opportunities.

The two most recent appeal decisions confirm that Milton Keynes Council currently benefits from a five year housing supply, with the Inspectors determining the Rectory Farm (April 2020) and (June 2020) appeals concluding supply positions of 5.9 and 5.5 years respectively.

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Going forward it is likely that Milton Keynes is going to expand significantly, and Milton Keynes Council are in the process of preparing their new Plan 2050, which will help shape growth across the borough with a view to accommodating a population of 500,000 by 2050.

Site Plan

Boundaries indicative. Not to Scale

TENURE

The site is owned freehold by the Husborne Crawley Charity Estate and registered under Title Number BM343570. The land is subject to a tenancy agreement under the Agricultural Holdings Act 1986. Copies of relevant documents will be made available on request.

DEVELOPMENT PARTNER SELECTION PROCESS

Proposals are invited from interested parties by 12:00 noon on Thursday 26th August 2021. Please note that the Vendor will not be obliged to accept the highest or any other offer.

In order that we are able to accurately appraise all offers on a like for like basis please provide the following information in support of your bid:

• Confirm the proposed deal structure (Option Agreement, Promotion Agreement or other) and the attached relevant terms;

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• Preliminary proposals for development, in terms of anticipated unit numbers, ancillary land uses and access points;

• A planning strategy, to include key steps and anticipated timescales for achieving the above;

• The proposed length of agreement, and any provisions for extension;

• Confirmation of premium fee payable on exchange and on extension;

• Minimum price;

• Details of anticipated deductible costs, and confirm whether these would be capped:

• Discount or percentage split to the Vendor;

• Confirmation that there are no conflicts of interest.

• Specify any conditions attached to the offer or investigations/further information required prior to exchange;

• Specify details of your anticipated legal timetable;

• Specify how the purchase will be funded;

• Confirm whether your offer has full board approval, if applicable, and if not, the process and timescales required to obtain it;

• Provide details of your solicitors;

• Provide any other information that you feel should be taken into account when assessing your offer, such as details of your relationship with Milton Keynes Council or experience delivering schemes of a similar nature in the vicinity;

• Finally, please confirm that you are prepared to meet the Vendor’s reasonable agents and legal fees.

Following the receipt of initial offers it is likely that we will meet with a small selection of parties prior to selecting a preferred party and agreeing Heads of Terms. These meetings will be held on Wednesday 8th September 2021 and we request that you keep this day clear to attend a meeting with our clients and ourselves in the event that you are selected.

VIEWINGS

It is possible to view the site from the surrounding roads, however if you would like to walk the site please contact Savills on 01865 269000 to arrange an appointment. Prior to inspecting the site, Savills strongly recommend that you discuss any points which are likely to affect your interest in the opportunity. Please note that neither the Vendors nor their agents will be responsible for any damage or loss caused to any potential purchasers, their agents or consultants while on site.

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LOCAL AUTHORITY

Milton Keynes Council Civic Offices 1 Saxon Gate East Central Milton Keynes MK9 3EJ 01908 691691 https://www.milton-keynes.gov.uk/

IMPORTANT NOTICE

Savills, their clients and any joint agents give notice that:

1) They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2) Any areas, measurements or distances are approximate. The text, images and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

We trust that the above development opportunity is of interest to you, and look forward to receiving your proposal in due course. If you have any queries, wish to arrange a viewing or would like to discuss matters in further detail, please do not hesitate to contact either George Hopkins or Tim Watson on 01865 269000.

Yours sincerely,

Tim Watson MRICS George Hopkins Head of South Central Development Development Surveyor Email: [email protected] Email: [email protected] Mobile: (0) 7870 999 486 Mobile: (0) 7580 587 613

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