THE ELMS THAME - OXFORDSHIRE. Exceptional Development Opportunity in the heart of one of Oxfordshire s most prestigious historic towns

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1 THE THAME - OXFORDSHIRE Exceptional Development Opportunity in the heart of one of Oxfordshire s most prestigious historic towns

2 EXECUTIVE SUMMARY Exceptional Development Opportunity in the heart of Thame, Oxfordshire Approximately 2.9 hectares (7.2 acres) Planning consent for 37 residential dwellings including 14 affordable (reference number: P14/S2176/FUL) Approximately 98,027 sqft of accommodation Architecturally designed to maximise value and compliment parkland setting Pre-commencement conditions discharged, Section 278 works completed and development implemented Pre-commencement Section 106 contributions will be paid by the vendor Considerable potential for change of use to retirement, extra care, care or other uses subject to planning Unconditional offers for the freehold are sought by noon on Wednesday 6th June 2018 CGI of Proposed Scheme 2

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4 LOCATION CONNECTIVITY Thame is an historic market town located in southeast Oxfordshire on the River Thame, approximately 20km (13 miles) east of Oxford and 14km (9 miles) west of Aylesbury. Central London is approximately 67km (42 miles) south east. Thame s historic market town centre dates back to Saxon times, a market has been held in the centre since The Grammar School in Church Road was founded in The town contains several sixteenth and seventeenth century inns, as well as shops (including AGA, Robert Dyas, White Stuff, Boots, Sainsbury s, Waitrose), restaurants and cafes (Brasserie White, Prezzo, Costa Coffee), banks and other amenities that make Thame a very desirable and sustainable location to live and work. The population is approximately 11, 800 and home to over 600 businesses, including the headquarters of Kubota, CPM, Booker Tate, and Travelodge, in the town and surrounding business parks. THE Thame is conveniently situated for access to the M40, being approximately 8km (5 miles) east of junction 8A, 6km (4 miles) east of junction 7, and 9km (6 miles) north of junction 6. Thame is served by Thame & Haddenham Parkway Railway Station on the Chiltern Mainline, which offers direct services to London Marylebone (approximately 36 to 48 minutes and twice per hour), and Oxford and Banbury (approximately minutes and minutes respectively). Access to the M40 From Thame Direction Kms Miles East of Junction 8A 8 5 East of Junction North of Junction Journey Time From Thame & Haddenham Parkway Railway Station Destination London Marylebone Oxford Banbury Journey Times mins mins mins * 4

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6 THE THE SITE The Elms development opportunity is situated approximately 200 metres south of the marketplace, with direct pedestrian access to the High Street and vehicular access to Elms Road to the south. The site covers an area of approximately 2.9 hectares (7.2 acres) and is adjacent to Elms Park to the south east. The site is of relatively flat topography with mature trees and hedgerows to the boundaries. APPROVED PLANNING CONSENT The Elms benefits from planning consent for the development of 37 residential dwellings under planning application number P14/S2176/FUL granted in August The planning permission has been implemented in the form of access roads, with all pre-commencement conditions discharged, Section 278 works completed and pre-commencement Section 106 contributions will be paid by the Vendor. The consent provides for 23 open market dwellings and 14 affordable dwellings as set out in the schedule of accommodation. Full details of the planning application can be obtained in the online Information Pack, access to which is available upon request. Open Market Bedrooms Sqm Sqft Crescent Town House - West ,261 Crescent Town House - West ,261 Crescent Town House - West , units 8,191 88,168 Affordable Bedrooms sqm Sqft Apartment Apartment Apartment Apartment Apartment Apartment Apartment Apartment Apartment Apartment Terrace House Terrace House Terrace House House , units 916 9,860 6

7 PARK STREET UPPER HIGH STREET Memorial Garden new cycle way and pedestrian public access to Park MASTERPLAN OF THE Poplars Electricity Sub-station new gates and stone piers to The Elms The design of the dwellings, developed by Yiangou Architects, compliments the parkland setting and was undertaken in consultation with Historic England, to provide a development commensurate with the exceptional location and to ensure premium values. The high quality designs incorporate a combination of traditional masterplan forms, contemporary architecture, and premium features such as glass walkways and green roofs. The generous floorplans ensure that the dwellings will be attractive to the most discerning purchasers Land held under licence by present occupier of The Poplars Land to be retained as part of The Elms cycleway improvements to detail THE 1no 4Bed House FFL no 1Bed Apartments PTH PTH THE BARN new trees along boundary 12 no parking spaces (7no unalocated) 1no 2Bed House Estate Railings along park boundary with gravel path behind to provide rear access to Town Houses PTH reinstate haha with new estate railings on top of dry stone wall to detail PTH8 Private Drive CTH1 New Parkland (1.13 Hectares) PTH7 Bin Collection CTH2 Parkside Town Houses (11 no) CTH3 The Crescent Town Houses (12 no) new public footpath and cycleway pedestrian priority crossing new trees to reinforce screening along west boundary PARK RECREATION GROUND CTH4 CTH5 Bin Collection CTH12 new public pedestrian and cycle access to the Elms gardens PTH6 Private Drive CTH6 PTH no 1Bed Apartments REET ON ST NELS CTH7 CTH11 CTH8 CTH10 CTH9 PTH2 new public footpath new 5m wide road to adoptable standards Private Drive ROAD new site access road widening and formalised on street parking to detail PTH no 2Bed Apartments 4 no parking spaces (3no unalocated) PTH4 2no 3Bed Houses 2no 2Bed Apartments Cycle park 17no parking spaces (9no unallocated) Cycle park PTH1 Estate Railings along park boundary with gravel path behind to provide rear access to Town Houses landscaping improvement works to Town Park part of separate Outline Planning Application

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9 ALTERNATIVE PLANNING USES The Elms is located in an enviable position for residential dwellings as per the existing planning consent, however The Elms also represents an ideal location for retirement, extra care and care uses, due to its close proximity to the town centre. A planning application was submitted in 2017 under application number P17/S1069/FUL, which was refused in February It should be noted that the vendor disagrees with the reasons for refusal. However, revised plans have been prepared to accommodate 80 units (further sub division maybe possible) and a residents centre within the same shell and equivalent fenestration to the approved scheme. The amended proposals have been created to have the same consideration to the Heritage Assets as the extant scheme. The indicative scheme has been prepared for an Extra Care Housing development with approximately 79,000 sq ft (GIA) of accommodation excluding communal areas and garaging. In addition there is a residents centre extending to approximately 5,030 sq ft. The mix comprises 1 four bedroom house (potential for sub-division), 12 three bedroom apartments, 46 two bedroom apartments, and 21 one bedroom apartments. The amended scheme includes 65 parking spaces which comprises garage parking for 32 cars and 33 surface parking spaces. The revised plans are available within the online Information Pack. Within a 20 minute drive time catchment there is an estimated resident population of 63,759 of which those over 65 years totalled 23.5% (GB 18.3%) with 6.5% over 80 years (GB 4.9%). Over the next 15 years, it is projected that the over 65 population will increase by circa 6,282 persons (41.9%) and the population over 80 years by circa 3,258 persons (78.6%). The ACORN profile indicates that a higher proportion of demand in the locality (approximately 78%) is going to be from people who will self fund their retirement either by themselves or by families locally, whether it is in residential/nursing homes or own their own apartments with domiciliary care as required. This is a segment of the market which can be targeted by a high quality, well managed retirement facility in the Catchment Area. 9

10 PARK STREET UPPER HIGH STREET Memorial Garden Poplars cycleway improvements to detail THE BARN Existing scrub hedge replaced with new indigenous hedge and tree planting to Arboriculturist's recommendations Secure Private Gate and Estate railings to Townhouse Gardens Secure Private Gate and Estate railings to Townhouse Gardens Existing scrub hedge replaced with new indigenous hedge and tree planting to Arboriculturist's recommendations MASTERPLAN FOR RETIREMENT A planning application was submitted in 2017 under application number P17/S1069/FUL, which was refused in February The scheme for an Extra Care Housing development comprised some 112,689 sq ft (GIA) with a mix of 64 two bedroom apartments, 17 one bedroom apartments, two 2 bedroom houses, four 3 bedroom houses and communal areas. However, the Vendor considers that the revised plans that have been drawn up indisputably addresses reason 1 for refusal. These plans are available within the online Information pack. ROAD road widening and formalised on street parking to detail 10 1:500 0m 5m 10m 15m 20m 25m

11 THE SALE INFORMATION TENURE The Elms is to be sold Freehold with Vacant Possession METHOD OF SALE The Elms will be sold by way of Informal Tender. Offers are invited for the site on an unconditional basis. Please discuss the method of sale with Savills prior to submission of an offer. Please note that the vendor will not be obliged to accept the highest of any other offer. Strictly all offers must be received by 12 noon on Wednesday 6th June A guide to the information required as part of any offer is included in the online Information Pack. POST DEADLINE MEETING Offering parties are requested to make themselves available to meet with Savills and the Vendor on the 18th June Further details will be available following the offer deadline. SERVICES Limited service utility information is available in the online Information Pack. Purchasers are advised to undertake their own investigations in terms of their specific requirements. VAT Please note that VAT will not be charged on the sale of The Elms. VIEWINGS Viewings will be possible by prior arrangement with Savills during block viewing days. Please contact us to reserve an appointment. ONLINE INFORMATION PACK An online Information Pack containing planning, technical, legal, and sale information is available at the following location, which can be accessed after registering with Savills. sites.savills.com/theelms 11

12 CONTACTS ED KEELING Director Development CRAIG WOOLLAM Director Head of Healthcare GEORGE NEWCOMBE Associate - Development gnewcombe@savills.com SAM OLIVER Graduate Surveyor Development soliver@savills.com Important Notice The information contained in this document has been compiled by Savills (UK) Limited from various sources and includes material which may have been provided by various sources but which has not been verified or audited. This document also contains confidential material proprietary to Savills (UK) Limited. Whilst every care has been made to ensure the information contained within is accurate, no representation is made or warranty given in respect of such information. No reliance may be placed for any purposes whatsoever on the contents of this document or its completeness. No representation or warranty, express or implied, is given and no responsibility, liability is or will be accepted by or on behalf of Savills (UK) Limited or by any of its directors or employees or any other person as to the accuracy, completeness or correctness of the information contained in this document or any other oral information made available and any such liability is expressly disclaimed. In this document references to Savills are references to Savills (UK) Limited. Savills (UK) Limited is a UK private limited company registered in England with Company No and registered office at 33 Margaret Street, London W1G 0JD, UK. Savills (UK) Limited is a member of the Savills plc group of companies.