C H A R T E R E D S U R V E Y O R S

H A S L A M S

Prime freehold residential development opportunity

with planning permission for 427 apartments

THE

FOUNDRYQUARTER

R E A D I N G

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EXECUTIVE SUMMARY

Prime Freehold residential development opportunity.

Reading is the largest commercial centre in the South East outside of Central London, with a strong tech-based

to leading universities including Reading, Oxford and Oxford Brookes.

Excellent communications via the M4, A329(M) and A4 and fast and regular train services to London, Swindon, Bath,

Bristol, Exeter and South Wales. Train services to Central

completion of the Elizabeth Line (formerly Crossrail) in 2019.

Extensive retail and leisure facilities focussed around the Oracle Shopping Centre.

Highly prominent site within 7 minutes walk of Reading mainline train station and Broad Street/The Oracle.

Regular shaped site of 1.01 hectares (2.51 acres).

Planning permission for a residential development scheme comprising 427 apartments in 4 blocks, c. 2,000 sq ft amenity/commercial space, plus 124 on site car parking spaces, a cycle

store for 36 bicycles and space for motorcycles.

Excellent residential sales and rental growth with further accelerated growth anticipated due to the Elizabeth Line.

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TO LONDON

TO BRISTOL, WALES, SOUTHAMPTON

FORBURY GARDENS

READING STATION

FRIAR STREET

THE

FOUNDRYQUARTER

BROAD STREET MALL

THE ORACLE

THE RIVERSIDE

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EXCELLENT CONNECTIVITY

OXFORD

26 MILES

BRISTOL

80 MILES

HEATHROW

26MILES

LONDON

41MILES

Reading is strategically located approximately 40 miles west of London, 75 miles east of Bristol, 25 miles south east of Oxford and 16 miles north east of

communications with 3 M4 Motorway junctions (J10-J12), which provide direct links to the M25 Motorway (J15) and Central London to the east; Swindon, Bristol and

the A33.

Reading mainline rail station is the 2nd busiest interchange station outside of London with over 20 million passengers per year. Trains to London run every 10 minutes with a fastest journey time of 26 minutes. Direct services also link with Oxford, Swindon, Bath, Bristol, Exeter, Birmingham

Rail services into Central London will be

of the Elizabeth Line with passengers being able to travel to the following locations without changing at Paddington, with journey times to Bond Street (53 minutes), Liverpool Street (61 minutes) and Canary Wharf (67 minutes). The line will also provide direct rail access to Heathrow Airport. Reading will be the Western Terminus of the Elizabeth Line. The Elizabeth Line will noticeably reduce commuting times and ease travelling into and out of London for workers and visitors.

Heathrow International Airport is 27 miles to the east via the M4 with Gatwick and Stansted airports both readily accessible via the M25 and M3 (Gatwick) and the M25 and M11 (Stansted) motorways.

CAV

ERSH

AM R

OAD

CASTLE ST

REET

M

INSTER STRE

ET KING’S ROAD

A329

A329

QUEEN’S ROAD

LONDON ROAD

ST MARY’S BUTTS

CASTLE HILL

OXFORD ROAD

CHATHAM STREETFRIAR STREET

FORBURY ROAD

VASTERN ROAD

SOUTHAMPTON STREET

WELDALE STREET

GREAT KNOLLYS STREET

NAPIER ROAD

BAKER STREET

SOUTH STREET

CARDIFF ROAD

A329

A329

BROAD STREET

BROADSTREET MALL

JOHNLEWIS

THE ORACLE

SAINSBURYS

THEHEXAGON

READINGABBEY RUINS

THERIVERSIDE

READINGSTATION

FORBURYGARDENS

KING’SMEADOW

VASTERN COURTRETAIL PARK

M&S

STATION HILLDEVELOPMENT

30 MINS

1HRS

1HR30 MINS

2 HRS

2 HRS30 MINS

3 HRS

3 HRS30 MINS

0MINS

OXFORD 21M

PADDINGTON 26M

HEATHROW AIRPORT 38M*

SWANSEA 2H 30M

MANCHESTER PICCADILLY 3H 09M

THE

FOUNDRYQUARTER

*Via the Elizabeth Line (formerly Crossrail) coming soon. Current time 1hr 30m.Sources: Google maps, National Rail

BRISTOL PARKWAY 53M

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A HIGHLY SOUGHT AFTER, THRIVING DESTINATION

1stFOR BEST PERFORMING ECONOMIC AREA

Reading is situated within the Royal County of Berkshire and is the principal commercial and administrative centre for the Thames Valley.

The town enjoys a strong economy with low unemployment. Major employers include Microsoft, PepsiCo, Oracle, CGI, SSE, Jacobs, Thames Water, Cisco, Ericcson, Deloitte, EY, HSBC, Visa and the University of Reading.

population of 160,800 (2014) and has increased substantially, rising from 135,000 in

1992 (c.20%), with further population growth forecast (ONS). 68% of the population is aged between 25-54. There is an over representation of social groups AB and C1 which account for 67% of residents and a high proportion of commuters. However, there is a daily net

and insurance.

Reading was ranked no.1 in the CoStar

investment 2017.

43%OF THE TOP 30 GLOBAL COMPANIES

2ndMOST PROSPEROUS LOCATION IN UK

Major recent and ongoing developments nearby include Chatham Place (a large residential apartment scheme immediately adjacent comprising 491 apartments with

story car park) and the Station Hill mixed use development located opposite Reading Station which will comprise 300 residential

sq ft of retail.

The extensive retail and leisure facilities of Reading are centred around Broad Street and The Oracle Shopping Centre, within 7 minutes walk from the site. The Primary Shopping Catchment is estimated at around 700,000. Reading is ranked 19th of the 200 PROMIS Centres and is a thriving leisure destination

and restaurants.

(Fact sources: www.livingreading.co.uk, Barclays, PWC)

READING IS THE BEST PLACE TO LIVE AND WORK IN THE UK (PWC) AND HAS THE HIGHEST EMPLOYMENT RATE

““

The riverside area (part of The Oracle) has a wide range of casual dining operators such as

and a recently opened Lebanese restaurant, Comptoir Libanais.

This development should prove highly attractive to both owner occupiers and/or the rental market.

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THE SITEThe site is prominently located immediately to the west of the town centre with an extensive frontage to Reading’s Inner Distribution Road (A329). Regular in shape and

to Weldale Street and Chatham Street.

Presently the property comprises an early 1980s edge of town centre retail park of 3 units totalling c.4,928 sq m (c.53,040 sq ft) with surface and decked car parking.

TENUREFreehold. The entire site is vacant with the exception of Unit 3 (Iceland Foods Ltd) where the Lease expired on 14th January 2018. It is the vendor’s intention to demolish all buildings on site as soon as vacant possession of the whole site is obtained on 28th September 2018.

ET

A 32

9

WELDALE STREET

UP

UP

UP

For illustrative purposes only. Not to scale.

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PROPOSED DEVELOPMENT SCHEMEDetailed planning permission was obtained in January 2018 for a comprehensive

apartments) arranged in 4 Blocks of 8 – 12 storeys with ancillary commercial/amenity space and 124 on site car spaces, plus cycle spaces.

The scheme will provide 2 courtyards with apartments arranged either side of a new

amenity space for residents. The blocks will be arranged on LGF – 6th, 8th, 9th and 10th

Net Internal/Sales area) plus a 33,700 sq ft enclosed car park at LGF.

Block 1 bed 2 bed 3 bed Totals NSA (sq m) NSA (sq ft)

A1 100 38 6 144 7,522.8 80,974

A2 38 75 1 114 6,625.6 71,318

B1 16 23 4 43 2,826.7 30,427

B2 79 46 1 126 6,993.0 75,272

TOTAL 233 182 12 427 23,968.2 257,991

that the total CIL Liability for the development is £3,798,368.40, index-linked from April

a geotechnical report, services information and title information are available to interested parties via the secure data room. Also a full suite of planning drawings and related documents can be viewed via Reading Borough Council’s Planning Portal (planning application reference 170326). We believe there is potential to achieve an enhanced planning permission to develop a taller building with additional apartments.

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1. Access Summary2.3. Air Quality Assessment4. Archaeological Assessment5. Built Heritage Statement6.7. CIL Application Form8. Design and Access Statement9. Design Review Response10. Drainage Strategy11. Ecological Assessment12. Energy and Sustainability Report13. Existing Plans14. External Lighting Statement15. Fire Safety Report16. Flood Risk Assessment17. Ground Investigation Report18. Historic Views Study

19. Land Registry Freehold Title and Title Plan20. Noise Planning Report21. Open Space Statement22. Planning Application23. Planning Committee Reports24. Planning Statement25. Proposed Plans26. Rights of Light Report and Insurance27. Section 106 Agreement28. Schedule of Accommodation29. Statement of Community Involvement30. Sunlight Assessment31. Topographical Survey32. Transport Assessment33. Utilities Report34. Ventilation Strategy35. Wind Assessment

SALES & RENTAL GROWTHReading has experienced exceptional Capital and Rental growth in recent years. Average new homes sales prices have increased by 25% and average rents by 25% over the past 5 years and are forecasted to remain strong.

VATThe property is elected for VAT and so VAT will be payable upon the purchase price.

PROPOSAL

planning consent.

TECHNICAL INFO PACK

website. Please visit www.haslams.co.uk. The Technical Information Pack includes:

FURTHER INFORMATION

To arrange an inspection of the site and to gain access to the data room please contact the joint agents. Access onto the site during viewings will be available via its entrance from Weldale Street. Please note that parties must not enter the property without our prior authority and any inspection of the site is at the prospective purchaser’s risk.

Misrepresentation Act 1967 – Haslams and Jackson Criss give notice that:1. These particulars do not constitute any part of an offer or contract.2. None of the statements contained in these particulars are to be relied on as statements or representations of fact; intending parties must satisfy themselves as to the correctness of each of these statements.3. Haslams, Jackson Criss and their clients have no authority to make or give any representation or warranty in relation to the property.Finance Act 1989 – Unless otherwise stated, all prices and rents are quoted exclusive of VAT.Consumer Protection from Unfair Trading Regulations 2008 – These details are believed to be correct as at June 2018 but may be subject to subsequent amendment. Any plans or drawings are indicative and for guidance only.Designed and produced by www.tlgd.co.uk.

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C H A R T E R E D S U R V E Y O R S

H A S L A M S

CHRIS NEWMAN0118 921 1521

chrisnewman@haslams.co.uk

KIERAN MITCHELL 020 7637 6857

kieranm@jacksoncriss.co.uk

C H A R T E R E D S U R V E Y O R S

H A S L A M S