Royal Heights Queens Road, Reading, RG1 4BN RESIDENTIAL DEVELOPMENT OPPORTUNITY

Transcription

1 Royal Heights 9-7 Queens Road, Reading, RG BN RESIDENTIAL DEVELOPMENT OPPORTUNITY

2 Royal Heights, Reading RG BN 2 Executive Summary Residential development opportunity Prior approval for 9 apartments 0 x studios, 3 x bed and x 2 bed flats with a proposed total net saleable area of 8,0ft 2 Potential for additional storeys - STPP Potential for additional new development within the car park - STPP Centrally located in Reading Town Centre, near Reading University and transport hubs. Direct trains run from Reading to London Paddington in under 22 mins making it an ideal commuter town Conditional and unconditional offers for the freehold interest are invited by 2 noon on Thursday 28th September 207

3 Royal Heights, Reading RG BN 3 Location VASTERN ROAD The site is located in Reading on Queens Road, situated just a few minutes walk from local amenities within the town centre including a large range of shops, restaurants and bars. CAVERSHAM ROAD STATION HILL FRIAR STREET OXFORD ROAD BROAD STREET READING READING TOWN CENTRE DUKE STREET A329 FORBURY ROAD ABBOTS WALK ABBEY KINGS ROYAL HEIGHTS ROAD M J0 The popular Oracle Shopping Centre is just a 7 minute walk away and includes a cinema, two floors of retail, eateries and restaurants along the River Kennet providing al fresco dining opportunities. Reading train station (8 minutes walk) provides excellent links to the south-west of England, with regular fast services to London Paddington taking 22 minutes and all services to London running approximately every -0 minutes. The introduction of Crossrail to Reading in 209 will create growth in the area and new transportation routes to and within London. BRIDGE STREET A329 QUEENS ROAD LONDON STREET SIDMOUTH STREET WATLINGTON STREET Crossrail Travel Times: 2 mins MAIDENHEAD 2 mins 3 mins EALING BROADWAY BOND STREET 8 mins FARRINGDON 69 mins STRATFORD 02 mins SHENFIELD M J A LONDON ROAD APPROX. MILE TO READING UNIVERSITY READING SLOUGH 2 mins HEATHROW AIRPORT 38 mins PADDINGTON 0 mins mins 6 mins 80 mins ABBEY WOOD

4 Royal Heights, Reading RG BN Site Description Title he site is located at 9-7 Queens Road in central Reading. Reading is a major town in the Thames Valley / M corridor with a population of circa 200,000. The freehold interest in the whole site is owned by the vendor under title number BK286. Purchasers are advised to consider the title information contained in the information pack. Offers are invited on the following basis: he site contains an existing storey vacant office building and measures approximately 0.2 ha (0.6 ac). - the whole comprehensive site; We are advised that a small part of the site is held on possessory title only. The vendor has taken out indemnity insurance to protect against a claim for possession by a third party and unknown freehold restrictive covenants. he building comprises of approximately,79 sqm (8,00 sqft) NIA and provides c. 60 car parking spaces. -P rior approval has recently been granted for conversion of the existing building to provide 9 flats. he site holds potential for further new build development STPP. - Royal Heights only (as shown below) - the car park site only (as shown below) Royal Heights only: Car park site only:

5 Royal Heights, Reading RG BN The Opportunity - Royal Heights Prior approval for change of use from B(a) offices to C3 residential was granted on 3st July 207, to provide 9 new flats (0 x studios, 3 x bed and x 2 bed flats) The existing building: Proposed accommodation schedule: UNIT TYPE NO. UNITS SQ FT SQ M 2 Bed ,0,79 Proposed plans: Rev: F / / General Revisions. Ground Floor: 6 Wrotham Business Park Barnet, Herts EN SZ t: e: enquiries@planningconsent.com w: Drawing Title: Scale: :00@A3 Rev: F / / General Revisions. Upper Floors: 6 Wrotham Business Park Barnet, Herts EN SZ t: e: enquiries@planningconsent.com w: Drawing Title: Scale: :00@A3 Proposed Ground Floor Plan Drwn: srt Proposed First Floor Plan Drwn: srt Project: Date: May 207 Project: Date: May 207

6 Royal Heights, Reading RG BN 6 The Opportunity Enhanced PDR Scheme Ground Floor: Upper Floors: cpd Rev: F / / General Revisions. 6 Wrotham Business Park Barnet, Herts EN SZ t: e: enquiries@planningconsent.com w: Drawing Title: Scale: :00@A3 Proposed First - Fourth Drwn: srt Floor Plans - s Project: Date: Aug. 207 P.D. Office Conversion Drawing No: Location: Clarendon House 929 A Reading RG BG Proposed accommodation schedule: UNIT TYPE NO. UNITS SQ FT SQ M ,266,697 There is potential to submit a PDR application for 78 units which would add value to the opportunity. Supportive planning and parking note available upon request. Copyright and design right held by Stuart Henley & Partners Ltd. No unauthorised reproduction permitted. cpd Rev: A / / General Revisions. 6 Wrotham Business Park Barnet, Herts EN SZ t: e: enquiries@planningconsent.com w:

7 7 Royal Heights, Reading RG BN The Opportunity Additional Floors Building height heat map: he vendor intends to obtain planning permission for 2 additional floors providing 0 flats (6 x bed, x 2 bed) with a total net sales area of 609 sqm (6,3 sqft). he site forms part of the Central Core of Reading and is within the Eastern Tall Buildings Cluster. he surrounding buildings vary in height from to 0 storey office and residential blocks. Immediately to the north of the site is King s Point where a new 7 storey residential tower is currently under construction. Royal Heights proposed visual: Additional th and 6th floor: Garrard House, Reading (proposed visual): Station Hill Development, Reading (proposed visual):

8 8 Royal Heights, Reading RG BN The Opportunity - Car Park Site he car park has potential for new development either in conjunction with the existing building or in isolation. he vendor has prepared a number of indicative schemes to illustrate the development potential of the site in isolation. P rominent site on busy street corner which may suit a number of different uses (STPP) for example: residential, retail, hotel, leisure, student accommodation etc. The car park site: Indicative Massing: UNIT TYPE 2 Bed 3 Bed Bed Bed 2 Bed 3 Bed TOTAL NO. UNITS SQ FT ,967 SQ M ,0 UNIT TYPE Commercial TOTAL NO. UNITS SQ FT 2,08 2,08 SQ M 9 9 Indicative layout Ground Floor Plan:

9 Royal Heights, Reading RG BN 9 Viewings Offers Viewings are undertaken strictly by appointment. If you wish to view the site please contact the agents. Please note that the agent does not take any responsibility for any loss or injury caused whilst carrying out a site visit. Unconditional and conditional offers are sought via informal tender by midday on Thursday 28th September 207 on the following basis: - The whole comprehensive site - Clarendon House only. - The car park site only*. *Offers for part of the site only will be subject to conditions, please contact the agents to discuss this in more detail. The vendor will not be obliged to accept the highest or any other offer. An information pack will be available upon request that will include the following: - Relevant planning documents - Architect s drawings and capacity studies - Asbestos survey - Transport studies - Title documents and report on title - Rights of light study - Photographs - EPC - Utilities report - Indemnity policy - Daylight and Sunlight review - Energy & Infrastructure report - Health & Safety and Fire & Risk Assessment - Drainage & Water Enquiry

10 Royal Heights, Reading RG BN Contact For more information please contact: Chaim Aziz +(0) (0) c.aziz@estate-office.com Daniel Minsky + (0) (0) d.minsky@estate-office.com Andy Fraser + (0) (0) andy.fraser@savills.com Nathalia Gorvin + (0) (0) NGorvin@savills.com DISCLAIMER The particulars are set out as a general outline only for the guidance of intended purchasers or lessees and do not constitute or constitute part of an offer or contract. All descriptions, dimensions, reference to condition and necessary permissions for use and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact, but must themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Estate Office has an authority to make or give any representation or warranty whatsoever in relation to this property. August 207 (Q379)