0.26 Acres Development, For Sale
The property is situated on the south side of Hyde End Road, in a predominantly residential location within the popular and sought after village of Spencers Wood, Berkshire.
It lies within easy walking distance of many local amenities including shops, pubs and a primary school. Reading town centre with its multiple facilities lies approximately 5.5 miles to the north.
From December 2019 the £14.8bn Crossrail service will be departing from Reading twice hourly, providing direct services through the city of London to Shenfield, with Bond Street accessible in under one hour.
Crossrail will deliver cutting edge, high capacity trains which will help reduce overcrowding at peak times and provide a cleaner, more environmentally friendly rail service into central London.
Junction 11 of the M4 motorway and the A33 lie approximately 1.5 miles to the north west.
The property comprises a generally level, rectangular shaped site which includes two detached buildings of mixed use and associated car parking.
The northern building is planned over two storeys and is of residential appearance. It provides a combination of 4no. 1 bedroom flats and ground and first floor office accommodation of approximately 89.65 sq. m. (965 sq. ft.) (NIA).
The southern building is also planned over two storeys and is of commercial appearance. It provides 4no. ground and first floor office/storage units which total 178.93 sq. m (1,926 sq. ft.) (NIA).
Historically the site has been fully let with a strong level of income produced from a combination of the residential and commercial elements. Clear scope exists for this again.
The property is contained by wooden panel fencing and is bordered by residential dwellings at its southern, eastern and western boundaries and Hyde End Road at its northern boundary.
The total site area is approximately 0.10 hectares (0.26 acres).
A copy of an Ordnance Survey Extract Plan within the particulars of sale shows the approximate boundaries of the property edged in red.
The property will be sold freehold.
229 Hyde End Road (Front Building) D:82
229a Hyde End Road (Rear Building) D:83
In our opinion the site offers potential for the conversion of the existing buildings into pure residential use. Prior to being placed into Administration, County Contractors commissioned drawings for the overall site to be configured to provide a total of 12 flats with 7no. 1 bedroom flats and 1no. studio flat in the northern building and 4no. 2 bedroom flats in the southern building. Copies of these drawings can be found within the Technical Information Pack.
An accommodation schedule for the proposed scheme is provided within the particulars of sale.
At present, no formal planning application has been submitted for the development of the site, however, a statement in support of a planning application can be located in the Technical Information Pack.
The office accommodation found in the northern building may qualify for office to residential conversion through Permitted Development Rights.
Any planning related queries should be directed to the Local Planning Authority: Wokingham Borough Council.
We are advised that mains electricity, gas, water and drainage services are available in the vicinity for connection to the site. However, prospective purchasers are advised to make their own independent enquiries of the individual authorities to verify the capacity and availability of such services.
The site is offered for sale by way of informal, non-binding tender with the vendor reserving the right not to accept the highest or any offer and also reserving the right to withdraw the site from sale or to vary the method of sale at any time without notice. In the event that a number of competitive offers are received, the vendor reserves the right to request 'best and final' offers from selected parties.
Full details of the method of sale can be found within the particulars of sale.
Written offers for the property are invited by 12 Noon on Wednesday 16th May 2018.
A copy of the Technical Information Pack can be downloaded from the Data Room. Login details are available upon request.
All enquiries should be directed to the vendor’s sole agent: Haslams Surveyors LLP.
Block Viewings of the property will take place on the following days (No appointment necessary):
Tuesday 10th April 2018 at 10.00am
Tuesday 17th April 2018 at 10.00am
Tuesday 24th April 2018 at 10.00am
Tuesday 1st May 2018 at 10.00am
Tuesday 8th May 2018 at 10.00am
Tuesday 15th May 2018 at 10.00 am
Access onto the site during viewings will be available via Hyde End Road.
Please note that parties must not enter the property outside the block viewing times without our prior authority and any inspection of the site is at the prospective purchaser’s risk.