S T R A W B E R R Y H I L LN E W B U R Y , R G 1 4 1 J A

2

I N V E S T M E N T S U M M A R Y

• A unique town centre investment and redevelopment opportunity situated in the affluent town of Newbury.

• Newbury is a growing West Berkshire town, undergoing significant regeneration and investment, vastly improving its regional South East status.

• Well located within close proximity to Newbury’s town centre and prime retail/leisure pitch, in addition to two well connected railway stations.

• The property comprises two interlinked office blocks, providing 121,132 sq ft (NIA), arranged over basement, ground and two upper floors.

• Large 3.2 acre site, providing opportunity for a variety of redevelopment and asset management possibilities.

• Available with vacant possession

• Permitted Development Rights have been approved on the property as of 24th September 2018, for conversion to 191 residential units.

• Freehold

• Offers are sought in excess of £15,000,000 (Fifteen Million Pounds), subject to contract and exclusive of VAT.

• A purchase at this level reflects a capital value of £124 psf, inclusive of purchasers costs of 6.73%.

Maidenhead 12 mins

Heathrow Airport 38 mins

Bond Street 54 mins

Liverpool Street 61 mins

Canary Wharf 68 mins

Stratford 69 mins

*Showing fastest journey times

3

L O C A T I O N

Newbury is an attractive market town located strategically along the M4 western corridor. Situated in West Berkshire, the town is 20 miles west of Reading, 27 miles south of Oxford and 60 miles from Central London.

Newbury has evolved into a thriving business location, with several key occupiers choosing to base themselves within the town. These occupiers include Vodafone, Huawei, Canon, Stryker and Sovereign and Harrods.

The town centre provides an active retail and leisure offering, which is enhanced by the draws of Newbury Racecourse. Newbury caters well to its growing living community, with a good selection of schools in the nearby area.

Newbury is one of the most connected towns in the Thames Valley, situated where the M4 motorway (Junction 13) meets the A34, providing the link between London to Bristol and Oxford to Southampton.

Bayer House is just a 7 minute walk from Newbury train station which currently provides links to Reading in a fastest journey time of 18 minutes and London Paddington in 49 minutes. Further connectivity is also provided by Newbury Racecourse Station.

The Elizabeth Line connecting from Reading, will offer further links to central London, the City and the east of London. With Heathrow Airport only an hours drive, Bayer House is superbly located for international travel.

C O N N E C T I V I T Y

The train line between Newbury and Reading has recently been electrified in 2018, providing both faster and more reliable train services between these two destinations, and further connecting Newbury to its surrounding major towns.

The addition of Crossrail through Reading station, (only 22 minutes train from Newbury), provides further connectivity for the town. The Crossrail upgrade will enhance the connectivity of the Thames Valley into Central London, through an estimated 6 trains per hour, and a direct journey time between Reading and Bond Street of 53 minutes.

TRAVEL TIMES FROM NEWBURY

CROSSRAIL TRAVEL TIMES FROM READING

Newbury Town Centre 1.4 miles

M4 (Junction 13) 4 miles

Reading 16 miles

Basingstoke 18 miles

Oxford 28 miles

Southampton 39 miles

Heathrow Airport 46 miles

Central London 60 miles

Reading 18 mins

Maidenhead 41 mins

London Paddington 51 mins

Oxford 51 mins

Basingstoke 55 mins

Swindon 60 mins

A37

A4

A74

A148

A149

A74

A1

A66

A19

A19

Cardi�

Newport

Swansea

Cheltenham

Gloucester

Weston-super-Mare

Torquay

Plymouth

Oxford

Swindon

Milton Keynes

Reading

Maidenhead

Aylesbury

High Wycombe

Basingstoke

Heathrow

Guildford

LONDON

Maidstone

RoyalTunbridge Wells

Chelmsford

Colchester

Ipswich

NorthamptonBedford

Cambridge

Norwich Great Yarmouth

Lowestoft

King’s Lynn

Peterborough

Newmarket

Bury St Edmunds

ThetfordRAF Lakenheath

Stansted

Luton

Leicester

Coventry

Worcester

Telford

Stoke-on-TrentWrexham

Colwyn Bay

Derby

Nottingham

Manchester

She�eld

LeedsBradford

York

Liverpool

Preston

BlackburnBurnley

Harrogate

Middlesbrough

Darlington

Hartlepool

Durham

Newcastleupon Tyne

Edinburgh

Glasgow

Falkirk

Stirling

Aberdeen

Perth

Dundee

Inverness

ExeterPortsmouth

BournemouthBrighton

Eastbourne

Southend-on-Sea

DoverFolkestone

Kingston upon Hull

Scarborough

Grantham

Skegness

Doncaster Grimsby

ScunthorpeBarnsley

Carlisle

Dumfries

Salisbury Winchester

TAUNTON

Newport

M53

M57

M55

M62

M61

M56

M56

M65

M18

M62

M180

M62

M1

A1(M)

A1(M)

M6

M6

M5

M5

M4

M20

A14M1

M1

M1

M6

M11

A1(M)

M25M4

M5

NEWBURY

Chester

Southport

Blackpool

M6

M6

CROMER

SUNDERLAND

Farnborough

M25

M25

M40

M40 A1 (M)

M3

M4

M4

M3

M1

M1

A4

M25

Not to scale. For indicative purposes only.

4

5

S I T U A T I O NThe property is situated on Strawberry Hill, to the north west of the main retail and town centre amenity offering. The property is approximately 0.7 miles from Newbury train station and 0.3 miles from Parkway Shopping Centre. Located parallel to Newbury’s pedestrianised high street (Northbrook Street), the property is within close proximity to a wide variety of shops, cafes, restaurants and bars. The immediate surrounding area consists of a mixture of residential and office accommodation, in addition to a number of preserved green parks and open spaces carefully maintained throughout Newbury.

D E M O G R A P H I C S

Newbury has an estimated population of approximately 41,883. The age profile of the population living in Newbury town centre consists of a high proportion of children aged 0-14 years, in addition to an over-representation of older working age adults between 45-64. Newbury is considered a very affluent catchment area, and per capita total retail spending levels are measured as above average. Additionally, the West Berkshire unemployment rate stands at 2.9%, which is substantially lower than the UK average of 4.1%.

T O W N R E G E N E R A T I O N

Newbury town centre has undergone significant regeneration in recent years and is further highlighted in Newbury’s 2026 Vision for further development. The town centre’s retail provision has transformed through the substantial Parkway Scheme, in addition to future plans to refurbish the Kennet Centre. Other developments in the town include refurbishment to the iconic Newbury Racecourse, in addition to major residential schemes such as The Urban Village and Market Street. To facilitate this regeneration, approximately £10m is anticipated to be invested to further improve road communications throughout Newbury.

M4M4

M4

A34

A34

A34

A339

A339

Benham Hill Thatcham

Hermitage

Curridge

Chieveley Services

Boxford

Bagnor

Stockcross

Marsh Benham

Snelsmore

Ashmore Green

NEWBURY

J13

Not to scale. For indicative purposes only.

6

Greenham Business Park

Newbury Racecourse

Parkway Shopping Centre

L’Occitaine

Horsey Lightly Solicitors

Corn Exchange Theatre

Newbury Racecourse Railway Station

Nuffield Health

Newbury College

Analog Devices Ltd

Horris Hill School

Travelodge

Roc Technologies Ltd

Premier Inn

Micro Focus

Vue Cinema

Newbury Library

H&M

Jack Wills

John Lewis

Sainsbury’s

Gekko

West Berkshire Council

Newbury Railway Station

Marks & Spencer

St Nicolas Church

Kennet Shopping Centre

Anytime Fitness

Aricent

Newbury Cricket Club

eGain Communications

Victoria Park

Jaywing

St Gabriel’s School and Sandleford Nursery

Newbury Rugby Club

Debenhams

The Chequers Hotel

Northcroft Park

West Berkshire Museum

St Bartholomew’s School

Northcroft Leisure Centre

Newbury Business Park– Huawei– Amec Foster Wheeler– Canon– Delta Impact Ltd– Mentor Graphics UK– Cognito iQ– Cirrus Logic

International(UK) Ltd

Hitachi Capital Vehicle Solutions

Waitrose

Leisure Office Occupiers Retail Schools

Newbury Retail Park

7

D E S C R I P T I O N

Bayer House comprises existing office accommodation divided across two interlinked blocks. The floor space is arranged over basement, ground, first and second floors. The property contains two access points, consisting of an impressive double height covered atrium, providing excellent natural light to all floors. There is also a secondary entrance on the eastern side.

The property was constructed in 1982, originally provided as Bayer plc headquarters. The building is of concrete frame construction, with cavity brick elevations and a double pitched roof.

A C C O M M O D A T I O N

The table below shows the existing floor area for the building, measured in accordance with RICS Property Measurement (1st edition), May 2015, providing the following net internal areas (NIA):

Floor NIA (sq m) NIA (sq ft) GIA (sq m) GIA (sq ft)

Basement 925.00 9,957 3,599.28 38,742

Ground 3,870.45 41,661 4,541.70 48,886

First 3,264.09 35,134 4,326.26 46,567

Second 3,194.03 34,380 3,818.01 41,097

TOTAL 11,253.57 121,132 16,285.25 175,292

A measured survey by Pure Real Estate Service Limited, can be provided upon request.

8

Down

Up

Down

Up Down

UpUp

Down

Up

Down

Up

Down

Up Down

Lift

Lift

LiftLift

Lift

LiftLift

Atrium264.11 sq m2843 sq ft

Up

Down

UpDown

Up

Riser

UpDown

Office

Office Office

Office

OfficeOffice

Office

ServerRoom

Office

Office

Office

Office

Office Office

Office

Office

Office

Office

Office

Office

Office Office

Office

Office

Office

Office

Office

Office

Office

Office

Office Office

OfficeOffice

Office Office

Office

Office

Office

Office

Office

Office

OfficeOffice

W/C

Circulation

Structural Element(Column)

Circulation

Circulation

W/C W/C

Circulation

W/C

W/C

Circulation

Plant

Plant

W/C

42.4

0m

60.27m

40.1

7m

11.1

1m

15.89m

29.0

3m

18.91m

37.48m

18.6

3m

W/C

Plant

External

Down

Down

Down

Down

Down

Down

Down

Down

Down

30.7

0m

19.07m

43.3

4m

59.85m

37.96m

18.9

5m

Office

Office

Office

Office

Office

W/C

W/C

W/C

LiftLift

Circulation

Circulation

Circulation

W/C

W/CW/C

Plant

Plant

Plant

Plant

Atrium251.38 sq m2,706 sq ft

External

Circulation

Lift

Lift

LiftLift

W/C

Structural Element(Column)

Office

Office

Office

OfficeOffice

Office

Office

Office

Office

OfficeOffice

Office Office

Office

Office

Office

Office

Office

Office

Office

Office Office Office Office Office Office Office

Office

Office

Office Office Office Office

Down

Storage

Plant

Storage

Storage

Storage Storage

Storage

Storage

Storage

Storage

Storage

Storage

Storage

Plant

Plant

PlantNo Access

Plant

Lift

Storage

PlantStorage

Storage

Plant

Storage

Storage

Circulation

Circulation

LiftPlant

Storage

Plant

Storage

Storage

Storage

Car Park

Car Park

Up

Up

Up

Up

Up

Up

29.99m

6.10

m

21.45m

17.6

5m

15.6

9m

4.76m

10.9

0m

6.13m

11.1

3m

6.14m

7.93m

7.99

m

8.03m

8.45

m

10.8

3m

6.41m

1.05

m

8.34m

22.1

2m

BASEMENT

FIRST FLOOR

Up

Down

Up

Up

Up

Up

UpW/CW/CPlant

Lift

Plant Plant

Lift Lift

Storage

W/C

W/C

W/C

Lift Lift

Plant

Plant

External

Reception

W/C W/C

Plant Plant

Circulation

Circulation

Circulation

Circulation

Circulation

Circulation

Circulation

Office Office Office

Office Office

Office

Office

Office

Office

Office

Office

Office Office

Office

Office Office Office

OfficeOffice

Office Office

Office

Office

Office

Office

Office

Office

Office

Office

Office

Office

OfficeOffice

Office

Area with a headroom ofless than 1.5m. [3.19]

Structural Element(Column)

Plant

21.2

9m

21.63m

34.9

1m

21.87m

22.51m

12.7

4m

45.4

2m

25.42m

23.82m

36.2

8m

30.93m 18.7

7m

19.02m

Front Entrance Front Entrance

Fire Exit

Fire Exit

Fire ExitFire Exit

Fire Exit

Fire Exit

Fire Exit

Fire Exit

Fire Exit

Fire Exit

Up

Up

Up

GROUND FLOOR

SECOND FLOOR

Not to scale. For indicative purposes only.

9

S I T E

The site area is approximately 3.2 acres (1.295 hectares). The below is a proposed site plan shown for indicative purposes only.

T E N U R E

Freehold

*Please note – Strawberry Hill is included in the Freehold title of this property, however it is an adopted highway. Further information can be provided upon request.

P A R K I N G

The site has an excellent parking provision consisting of a basement car park of 32 spaces, in addition to a separate multi-storey car park situated to the north of the building, providing 312 spaces.

The council currently have the right to 65 spaces within the car park on an agreement until 7th August 2099. More information can be provided upon request.

V A C A N T P O S S E S S I O N

The property is available with vacant possession.

76.2m

HILL

STR

AWB

ERR

Y

CLEVELAND GROVE ESS

22

17

14

10

5

1

4

8

12

47

50 54

49 5556

57

58

4950

48

5152

535457

55

56

58 5960

2

10 11

13

60

32

26

39

34

PH

46 to 48

1 to 21

Regents Court58

8to161to 7

Freeman Court10 to 24

36a 36c

Pelican House

1 to 14

76.2m

TCB

Northbrook Pla

RisingBollards

ALBERT ROAD

WEST STREET

El Sub Sta

39

43Church

1

40

30

34

6569

5

8 633

41

29

63a

6

28

32a

32

6470

27

59

HouseBrook

3836

63

Dundas1 to 9

34

Elliot1 to 9

43 to

47

40 to 46

68

11

58

77.9m

STRAW

BERR

YH

ILL

NE

OXFORD STREET

MAPLESPEEN COURT

LEYSGARDENS

Sub StaEl

El Sub Sta

15

29 27

25

9

2

Square

11

19

33

1

14

6 to 8

11

2

39

1

10

House

Oxford

31

Saddlers

Strawberry Hill

Court

to

SubSta

St Anne'sHouse

StC

athe

rine'

sH

ouse

St Peter'sHouse

1to

2

High

Corner

House

8

StAn

thon

ysH

ouse

5to

7

Oxford Court

35

76.1m

76.

76.9m

BROADWAY

NO

RTH

BR

OO

KS

TREE

T

THE

32

The Clock House

44

551

14

8

10

53

4

2

6

57a

3

PH

19

Shelter

47

15

9

18

5

50b

Hotel

16

51

1

6

1

26

57

13

49

11

PH

20 to 22

PH

2

21

50a

4

2

4

50

7

8

7

4to 8

0m 25m 50m 75m

BAYER HOUSE

10

O P P O R T U N I T I E S

We consider the site to comprise a variety of asset management opportunities, of which we have listed below:

• Refurbishment of the existing office accommodation to provide potential for reversion on re-letting.

• Permitted Development (see below existing Permitted Development Rights)

• A mixed-use development opportunity, with potential for residential, leisure or hotel use (subject to planning)

• Care home redevelopment

P R O P O S A L

We have been instructed to seek offers in excess of £15,000,000 (Fifteen Million Pounds Only), subject to contract and exclusive of VAT.

A purchase at this level would reflect a capital value of £124 psf, assuming purchaser’s costs of 6.73%.

C O N T A C T

For further information please contact the joint selling agents:

Important NoticeSavills, their clients and any joint agents give notice that:

1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by Savills Marketing: 020 7499 8644 | April 2019

E P C

The property has an EPC rating of D (79). Available upon request.

V A T

The property is elected for VAT.

P E R M I T T E D D E V E L O P M E N T R I G H T S

The property has Permitted Development rights, received on 24th September 2018 to be converted from the existing office use to 191 residential units (C3). Further information can be found from the planning reference 18/01904/PACOU

An accommodation schedule including floor plans in relation to the consented scheme is available upon request.

JAMES VIVIAN +44 (0) 20 7409 8731 jvivian@savills.com

ANDY FRASER +44 (0) 118 952 0528 andy.fraser@savills.com

SOPHIE CROSLEY +44 (0) 20 7409 8815 sophie.crosley@savills.com

GUY PARKES +44 (0) 118 945 0119 gparkes@ra-re.co.uk

ANDREW BAILLIE +44 (0) 118 945 0120 abaillie@ra-re.co.uk