Investment Disposal of One Thames Valley, Bracknell
Advised Clearbell Capital on the disposal of the freehold interest of this office-to-residential conversion opportunity to Seven Capital for £12,800,000, reflecting £170 per sq ft.
• Grade A office building comprising 75,293 sq ft NIA (85,056 sq ft GIA) arranged over ground and two upper floors around a central courtyard, with a full height glazed atrium in each wing and an expansive terrace at second floor level.
• 1 mile from Bracknell town centre, which has recently undergone substantial regeneration.
• 2.88 acre freehold site.
• Montagu Evans Planning delivered Permitted Development Rights (PDR) within 30 days of application for the conversion of the building to 130 residential units, with 2 car parking spaces per dwelling.
• There was also significant scope for a third storey extension to create an additional 30 units (160 units in total – STP).
• The sale was conditional upon provision of SANGS (Suitable Alternative Natural Green Space) land, which was delivered and sourced by Montagu Evans.
• Successful joint sale between Montagu Evans investment and residential land teams.
Housing, Local Government, Development Consultancy, Masterplanning, Regeneration, Viability
London Borough of Newham