FOR SALE. 515 dwelling residential development site HIGHWORTH ROAD, SHRIVENHAM, OXFORDSHIRE, SN6 8BL. with outline planning permissions

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1 FOR SALE 515 dwelling residential development site with outline planning permissions HIGHWORTH ROAD, SHRIVENHAM, OXFORDSHIRE, SN6 8BL Two separate outline planning consents being: Phase A Planning Permission number P13/V1810/0 for 240 dwellings. Phase B Planning Permission number P15/ V2541/0 for 275 dwellings gross hectares ( gross acres) net hectares ( net acres). Phase A 156 Private and 84 (35%) Affordable dwellings at 31.3 dph. Phase B 198 Private and 77 (28%) Affordable dwellings at 35 dph. Bids to be submitted by 17:00 on 20 th June 2017

2 HIGHWORTH ROAD, SHRIVENHAM, OXFORDSHIRE, SN6 8BL INTRODUCTION WebbPaton are instructed by the Landowners to offer for sale a site with outline planning permissions for 515 dwellings at Shrivenham, Oxfordshire. This site has been successfully promoted through the planning process by Welbeck Land. This is a unique opportunity to acquire a site where two separate outline planning consents have been granted to form a holistic village expansion of 515 units. The property being sold amounts to gross hectares ( gross acres) with a net developable area of the two combined planning permissions of net hectares ( net acres). SUMMARY PHASE A Planning Permission number P13/V1810/0 for 240 dwellings: Outline Planning permission for up to 156 Private and 84 (35%) Affordable dwellings. Proposed mix of 1, 2, 3, 4 and 5 bedroomed dwellings at 31.3 dph. Approximately hectares ( acres) gross. Residential Development Area of 7.67 net hectares (18.95 net acres). A future 2 Form Entry Primary School site of 2.20 hectares (5.44 acres).

3 Section 106 contributions of 2,262,792 * amounting to 9, * per dwelling. Detailed consent for the access from the highway. PHASE B Planning Permission number P15/ V2541/0 for 275 dwellings: Outline Planning permission for up to 198 Private and 77 (28%) Affordable dwellings. Proposed mix of 1, 2, 3, 4 and 5 bedroomed dwellings at 35 dph. Approximately hectares ( acres) gross. Residential Development Area of 7.85 net hectares (19.40 net acres). An A1 Retail Unit for 400 m² net retail area of 0.16 net hectares (0.40 net acres). Section 106 contributions of 3,237, * amounting to 11,773.32* per dwelling. Detailed consent for the access from the highway and a new roundabout on the A420. *NOTE - see full details of the Section 106 overleaf. DETAILS The particulars below detail the two sites with outline planning permissions. LOCATION Shrivenham is one of the larger Vale of White Horse villages located between Swindon and Oxford, with Swindon only 4 miles to the west along the A420. It has an international reputation for being the home of The Defence Academy of the United Kingdom where officers from the British and overseas forces attend residential courses which adds to the vibrant local community. The village high street includes public houses, restaurants, cafes, shops and a doctor s surgery.

4 DIRECTIONS Postcode: SN6 8BL From Swindon take the A420 Oxford Road towards Faringdon. After 4 miles turn right towards Shrivenham. At the Lady Barrington Memorial Hall turn left signposted Highworth. The land is on the right hand side of Highworth Road shortly after the signpost to Shrivenham Football Club. From Faringdon take the A420 westbound towards Swindon. At the Watchfield Roundabout (by McDonalds) take the second turning towards Shrivenham. Drive for approximately 1.5 miles and at the first mini roundabout turn right into Shrivenham High Street. Proceed down the High Street and at the Lady Barrington Memorial Hall turn right signposted Highworth. The land is on the right hand side of Highworth Road shortly after the signpost to Shrivenham Football Club. PHASE A DESCRIPTION OF PHASE A PLANNING PERMISSION NUMBER P13/V1810/0 FOR 240 DWELLINGS Phase A is a 240 dwelling site that has been promoted through planning by Welbeck Strategic Land LLP using the planning consultant Nathan McLoughlin of McLoughlin Planning, telephone: or nathan.mcloughlin@mplanning.co.uk who, along with Welbeck and WebbPaton, has secured an outline planning consent. The site is currently agricultural fields. The site abuts the existing village, the Shrivenham Conservation Area and a golf course.

5 PHASE A PLANNING The Vale of White Horse District Council Planning Committee granted an outline planning permission under Planning Application number P13/V1810/O on 7 th April 2017 for up to 240 dwellings comprising: 156 Private and 84 (35%) Affordable dwellings. a proposed mix of 1, 2, 3, 4 and 5 bedroomed dwellings at 31.3 dph. Net Residential Development Area of 7.67 net hectares (18.95 net acres). total gross area within the planning application approximately hectares ( acres). a site for a future 2 Form Entry Primary School, access provisions, children s play area, surface water attenuation, 4.54 hectares (11.22 acres) of open space and a 0.81 hectares (2.00 acres) informal sports pitch (please note this does not need to be Sport England compliant).

6 The layout is designed into 4 character areas being Main Street, Northern Boundary, Heart and Back Lanes. Detailed planning permission has been granted on the site access. Further details can be found in the Design and Access Statement in the site specific dataroom. The Reserved Matters Application is to follow the parameters of the Design and Access Statement. A copy of the VWHDC Planning Permission, Section 106 and other relevant documents can be found at: A copy of the VWHDC Planning committee Report on 18 th March 2015 can be found at: %20Land%20to%20the%20East%20of%20Highworth%20Road%20Shrivenham%20-%20Report.pdf PHASE A SECTION 106 PLANNING OBLIGATIONS A Section 106 was entered into on 7 th April The total Section 106 contributions are 2,262,792 amounting to 9, per dwelling. The breakdown and phasing of the payments are (NB before indexation): PHASE A VWHDC S106 CONTRIBUTIONS Contribution When payable Street Naming contribution 9.37 per dwelling 2,249 at 0 dwellings Waste Bin contribution 170 per dwelling 40,800 at 0 and 50 dwellings Monitoring SSSI contribution 316 per dwelling 75,756 at 0, 50, 100 dwellings Artificial Grass Pitch contribution per dwelling 13,723 before 100 dwellings Tennis contribution per dwelling 9,329 before 100 dwellings MUGA contribution 29,340 before 100 dwellings Cricket contribution per dwelling 14,974 before 100 dwellings VWHDC Admin and Monitoring 7,540 at 0 dwellings Shrivenham Parish Council Renovation of the Memorial Hall contribution 105,480 at 100 dwellings TOTAL VWHDC S ,191 PHASE A OCC S106 CONTRIBUTIONS Primary School and Early Years Education 5,250 per dwelling Secondary School and Sixth Form 3, per dwelling 456,000 * 20% at 0, 30% at 50, 50% at 120 dwellings 1,005,828 20% at 0, 30% at 50, 50% at 120 dwellings Stagecoach provision 1,000 per dwelling 240,000 At 0, 50, 100 and 150 dwellings Public Rights of Way improvements 18,000 at 0 dwellings Travel Plan monitoring fee 1,240 at 0 dwellings Bus Stop contribution 25,000 before 50 dwellings A420 New Roundabout contribution 208,000 before 100 dwellings OCC Monitoring 9,533 at 0 dwellings TOTAL OCC S106 1,963,601 * TOTAL SECTION 106 CONTRIBUTIONS 2,262,792 *

7 *IMPORTANT NOTES* CONCERNING PRIMARY SCHOOL LAND (See Schedule 8 of the Section 106) The Property being sold includes an area with planning for a 2FE Primary School on 2.20 hectares (5.44 acres). Please note that only 1.34 hectares (3.311 acres) is needed for a 1FE Primary School, this is referred to in the Section 106 as the Primary School Land. The Purchaser is not obliged to build this new school but is to provide if required by OCC a two plateaux level site with access to the adoptable highway and services. The remaining 0.88 hectares of the school site is to enable a 2FE Primary School to be built. The existing Shrivenham Primary School is located in the High Street. * 1) the Primary School Education Contribution referred to above is based on the assumption that Oxfordshire County Council (OCC) will draw down the 1.34 hectares of land required for the construction of the Primary School Land therefore reducing the Primary School Contribution to 456,000. If however this is not drawn down by OCC the Primary School Education Contribution will rise to 1,260,000. * 2) prior to the commencement of the build the Owner is to submit to VWHDC and OCC a detailed specification of the Primary School Works as set out in Part 1 of Schedule 8 of the Section 106. OCC must use reasonable endeavours to provide a response within 3 months which may be deferred until after 31 st December 2017 if the 3 months period expires before then. OCC is to respond by serving a County Council Notice to accept the transfer of the Primary School Land for 1 following the completion of the Primary School Works. The Owner has to complete the Primary School works by the later of: a) 9 months from the date of the County Council Notice; or b) 9 months from the date of the Commencement of the Development. If OCC fails to serve a County Council Notice within the timeframe above the ability to draw down the Primary School land lapses and 1,260,000 is owed as the education contribution. * 3) No mechanism has been set up for the transfer of the Additional Primary School Land which amounts to 0.81 hectares (2.00 net acres) of land. The Section 106 imposes a 10 year use restriction on this land as educational land only. Full details of this are available within the Section 106 documentation in the dataroom. PHASE A PRIMARY AND SECONDARY SCHOOL S106 CONTRIBUTIONS The formula for calculating the Educational Contributions is as follows: 2 bed 3 bed 4 + bed Primary Education Contribution if Primary School Land drawn down Formulae Market , , Affordable 2, , , Primary Education Contribution without Primary School Land drawn down Formulae Market 2, , ,320 Affordable 7, , , Secondary and 6 th Form Education Contribution Formulae Market 1, , , Affordable 5, , ,534.30

8 PHASE A AFFORDABLE HOUSING OBLIGATIONS Affordable Housing provision is a maximum of 84 dwellings being 35% of the dwellings to be split between 75% Affordable Rent and 25% Shared Ownership. The Tenure Mix is as follows: Beds Affordable Rent Intermediate (Shared Ownership) 1 bed 17% 0% 2 bed 46% 80% 3 bed 31% 20% 4 + bed 6% 0% A formal procurement process has been undertaken by Reehs Development Consultancy Ltd to obtain a competitive value for the Affordable Housing Provision. All enquiries, in respect of Affordable Housing are to be directed to Mr Surinder Heer who can be contacted on or surinder@reehsdc.co.uk. PHASE A ACCESS Detailed planning permission has been granted for a new access from Highworth Road. There is no third party land required as all the land needed for the access is either part of the adopted highway or in the ownership of the landowners selling the land. The masterplan proposes a central main street and housing served by secondary streets. Whilst not on the application itself, the proposal will make a Section 106 contribution of 208,000 towards improvements to a new roundabout on the A420. This roundabout has detailed planning permission under the Phase 2 planning consent. Further details relating to the access are available in the dataroom. PHASE B DESCRIPTION OF PHASE B PLANNING PERMISSION NUMBER P15/ V2541/0 FOR 275 DWELLINGS. Phase B is a 275 dwelling site that has been promoted through the planning process by Welbeck Strategic Land LLP using the planning consultant Nathan McLoughlin of McLoughlin Planning, telephone: or nathan.mcloughlin@mplanning.co.uk, who, along with Welbeck and WebbPaton, has secured an outline planning consent. The site is currently agricultural fields. The site abuts the existing village, the Shrivenham Conservation Area and a golf course. PHASE B PLANNING The Vale of White Horse District Council Planning Committee has passed a resolution to grant outline planning permission under Planning Application number P15/ V2541/0 on 30 th November 2016 for a mixed-use development of up to 275 dwellings comprising: 198 Private and 77 (28%) Affordable dwellings. a proposed mix of 1, 2, 3, 4 and 5 bedroomed dwellings at 35 dph. Net Residential Development Area of 7.85 net hectares (19.40 net acres). total gross area within the planning application of approximately hectares ( acres). up to 400 square metres of A1 retail store on 0.16 hectares (0.40 acres). detailed planning permission for a new roundabout junction on the A420 and highway access onto Highworth Road. Please note that all of the land necessary for this roundabout is either owned by the Vendors or is part of

9 the adopted highway, so there is no third party land required. access provisions, children s play area of 0.04 hectares (0.10 acres), surface water attenuation, and 6.68 hectares ( acres) of open space. The layout is designed into 2 character areas being an area for 2 storey dwellings and an area for 2½ storey dwellings. Further details can be found in the Design and Access Statement in the dedicated dataroom. The Reserved Matters Application is to follow the parameters of the Design and Access Statement. A copy of the VWHDC Planning Permission, Section 106 and other relevant documents can be found at: Details of the VWHDC Planning Committee Report on 30 th November 2016 can be found at: %20Land%20North%20of%20Shrivenham%20Highworth%20Road%20Shrivenham%20-%20Report.pdf

10 PHASE B SECTION 106 PLANNING OBLIGATIONS Section 106 Heads of Terms have been agreed and the legal agreement is currently being prepared. The total Section 106 contributions are 3,237, * amounting to 11,773.32* per dwelling. The anticipated payments and phasing of the payments are (NB before indexation): PHASE B VWHDC S106 CONTRIBUTIONS Contribution When payable Waste Bin contribution 170 per dwelling 46,750 at 0, 100, 200 dwellings Monitoring SSSI contribution per dwelling 75,757 at 0, 100, 200 dwellings VWHDC Admin and Monitoring 7,540 at 0 dwellings Shrivenham Parish Council Renovation of the Memorial Hall contribution per dwelling 111,562 33% at 0, 33% at 100 and 34% on 200 dwellings Football pitches contribution per dwelling % at 0, 33% at 100 and 34% on 200 dwellings TOTAL VWHDC S , *

11 PHASE B OCC S106 CONTRIBUTIONS Primary School and Early Years Education 5, per dwelling Secondary School and Sixth Form 4, per dwelling 1,480,000 at 50, at 100, at 150, at 200, at 250 dwellings based on the education contributions detailed below 1,197,000 at 50, at 100, at 150, at 200, at 250 dwellings based on the education contributions detailed below Stagecoach provision 1,000 per dwelling 275,000 at 0, 50, 100,150, 250 dwellings Public Rights of Way improvements 18,000 at 0 dwellings Travel Plan monitoring fee 1,312 at 0 dwellings Road Signage 10,000 at 0 dwellings OCC Monitoring 9,533 at 0 dwellings TOTAL OCC S106 2,990,845 TOTAL SECTION 106 CONTRIBUTIONS 3,237, * *IMPORTANT NOTE* CONCERNING MAINTENANCE LANDSCAPE BUFFER CONTRIBUTION There is an additional Section 106 Contribution of 751,931 to be made for the maintenance of the Landscape Buffer but this cost can be reduced if the Landscape Buffer Management Company raises a levy from the occupiers of the dwellings on the site. Full details of this are available within the Section 106 documentation in the dataroom. PHASE B PRIMARY AND SECONDARY SCHOOL S106 CONTRIBUTIONS The formula for calculating the Educational Contributions are as follows: 2 bed 3 bed 4 + bed Primary Education Contribution if Primary School Land drawn down Formulae Market , , Affordable 2, , , Primary Education Contribution without Primary School Land drawn down Formulae Market 2, , ,320 Affordable 7, , , Secondary and 6 th Form Education Contribution Formulae Market 1, , , Affordable 5, , ,534.30

12 PHASE B AFFORDABLE HOUSING OBLIGATIONS Affordable Housing provision is 28% of the total dwellings to be split between 75% Affordable Rent and 25% Shared Ownership. The Tenure Mix is as follows: Beds Affordable Rent Intermediate (Shared Ownership) 1 bed 17% 0% 2 bed 46% 80% 3 bed 31% 20% 4 + bed 6% 0% A Financial Viability Assessment was prepared with the planning application, and the District Valuer agreed to a reduced percentage of affordable dwellings on the basis the VWHDC or the developer may in the future run another Financial Viability Assessment to increase or decrease this percentage. A copy of the Financial Viability Assessment is included within the dataroom. A formal procurement process has been undertaken by Reehs Development Consultancy Ltd to obtain a competitive value for the Affordable Housing Provision. All enquiries in respect of Affordable Housing are to be directed to Mr Surinder Heer who can be contacted on or surinder@reehsdc.co.uk. PHASE B ACCESS Detailed planning permission has been granted for a new access from Highworth Road and a new roundabout off the A420. There is no third party land required as all the land needed for the access is part of the adopted highway or in the ownership of the landowners selling the land. Under the s106 Agreement Phase A is to make a financial contribution of 240,000 for this roundabout. Gladman s development in Townsend Road, Shrivenham has also made a financial contribution of 554,973 towards this roundabout. The Masterplan proposes a central main street and housing served by secondary streets. The roundabout is to be constructed before the 50 th dwelling on Phase B is occupied. Further details relating to the access are available in the dataroom. GENERAL INFORMATION PUBLIC TRANSPORT The Stagecoach Route 66 bus between Swindon and Oxford railway stations stops in the village every 20 minutes in both directions. Swindon Great Western Railway station is only 15 minutes away (London Paddington being currently 54 minutes by rail). With the electrification of the railway line the travel times will reduce to approximately 45 minutes. Shrivenham has nearby access to the M4 Junction 15 for east-west connections and the A419 to the north. FLOOD RISK The Flood Risk Assessment states the site lies within Flood Zone 1. ELECTRICTY AND GAS An 11kw electricity powerline goes through the middle of the site. There is an annual wayleave payment paid to the Landowner. A Notice to Terminate has been served on SSE and they have served a counter notice stating that the apparatus is needed for the network. We have made contact with Scottish and Southern Electric with a view to negotiating a discounted price with SSE to move this line. Further details will be provided to the successful bidder. The Utilities Report in the dataroom provides details of the two options for electricity supply.

13 Details of the gas network capacity provided by Wales and West Utilities can be found in the Utilities Section of the dataroom. The nearest gas main is 3 metres from the site boundary. This is an 180mm PE Medium Pressure (MP270) main. A pressure reducing station will need to be established to reduce the pressure to that suitable for residential use. A series of low pressure mains can be used to connect the dwellings to the low pressure gas main on the site. SEWERAGE / DRAINAGE / WATER Surface Water drainage will be accommodated through SUDs including attenuation ponds. Welbeck has funded a Thames Water impact study which has identified a foul water solution to connect the 500 dwellings to a manhole to the east of the site in Faringdon Road to bypass the Shrivenham foul water network and connect directly into the treatment works at Watchfield. These works would involve a new rising main running up Faringdon Road from the site to connect into the existing system adjacent to Northford Close. The Watchfield Treatment works can currently accommodate the needs of 500 dwellings. There is a Planning Condition requiring the proposed upgrade works to be in place prior to the commencement of development. A detailed costed solution to the water flow pressure, as provided by Thames Water, is available within the Utilities Section of the dataroom. LOCAL NEW HOUSE SALE VALUES Local land sales evidence shows average values of between 310 per square foot on new build dwellings.

14 COMMUNITY INFRASTRUCTURE LEVY (CIL) Currently there is no CIL in place in the Vale of White Horse District Council area. TENURE Freehold with vacant possession on completion. VAT The Landowners have opted the land for VAT. The Buyer will be expected to pay VAT at the appropriate rate in addition to the purchase price. OVERAGE The land is to be sold subject to an overage clause. This overage clause is to be triggered if the planning permission is improved upon and/or there is a change of use which results in the value of the land increasing by more than 100,000. This overage will be imposed on the lowering or recovery of the Section 106 contributions, change of use on the educational land, open space, play areas and landscaping areas. There is also to be an overage payment to be made if the land being sold for public open space is used for the provision of access / services to third parties land in the future. The overage on this land will be 80% of the increase in value less the cost of obtaining the planning consent. On the Net Developable Area, if the number of dwellings exceeds 515 dwellings, or the amount of Affordable Housing decreases below 35% on Phase A and 28% on Phase B, then an overage of 50% of the increase in value less the cost of obtaining planning permission and any build cost inflation will be applied. This overage is to be in place for 80 years. Please note the Vendors will consider alternative overage proposals. Bidders are advised if they wish to move away from

15 the overage proposed above that they should submit two offers, one with the overage described above and one with their proposal. TERMS The Land edged in red on the sale plan in the online dataroom is offered for sale by Informal Tender. Bidders should note that the Vendors are offering this land for freehold sale subject to an overage. For further details please see the Overage clause of these particulars. Bids can either be offered with payment in full on completion or phased over two payments, the second payment being within 12 months of the first, and with the Vendor protected by a Mortgage. Written or Tenders are to be sent to Messrs WebbPaton s office at the address below by Bids to be submitted by 20 th June 2017 before 17:00 hours. Offers should be submitted by or in a sealed envelope marked For the attention of George Paton Shrivenham Informal Tender. VIEWINGS The Land may be viewed at any time in daylight hours with a copy of these particulars in hand. LEGAL COSTS The successful Purchaser s Solicitor is to provide a legal undertaking of 30,000 plus VAT to the Landowners Solicitors in respect of abortive legal fees if the Purchaser pulls out or the Landowners pulls out or if the Purchaser alters the agreed Heads of Terms. All other legal costs will be the responsibility of each party. FURTHER INFORMATION Further details can be found in the site specific dataroom at The above is all written on a Subject to Contract basis. Particulars produced 21th April 2017 Notice: These particulars and the web based Information Pack are intended as a general guide only and do not constitute any part of an offer or contract. All descriptions, dimensions, reference to conditions and necessary permissions for use and occupation, and other details are given without responsibility. Intending purchasers or tenants should satisfy themselves as to the accuracy of all statements and representations before entering into any agreement. No employee or Partner or Director of WebbPaton or Welbeck Strategic Land LLP has authority to make or give any representations or warranty in relation to the property.