Land

Description

The site was home to the original Old Billingbear Brickworks, which produced the bricks used to build The Royal Albert Hall. Today, the site is used by the current owners and a small number of commercial tenants for open storage, storage containers, portacabin offices and light industrial units. There are also equine stables, manège and open paddock land and three mobile homes, all of which are controlled by the current owners.

The site currently produces a rental income of approximately £113,500 p.a. with additional income of up to £110,000 p.a. possible from the equine stables and manège. All occupants are on informal tenancies, but the Vendors undertake to give vacant possession upon completion of the sale if required as the majority of tenants are associated with the Vendors business operations.

The site offers prospective purchasers an immediate income-generating investment with the potential for future commercial or residential redevelopment, subject to planning.

The front brownfield part of the site measures approximately 5.94 acres, with the open paddock land to the rear measuring approximately 9.43 acres, offering a total site of approximately 15.37 acres.

Title Information

The freehold is spread over the following four Titles, the documents for which are available upon request: Title No: BK231506, BK322185, BK422011, BK458017.

Planning

The site is not within any flood zones or green belt. The owners have not explored the possibility of redevelopment, nor undertaken any contamination reports and the site has no significant planning application history.

The property is not situated in a Conservation Area, nor are any of the buildings Listed.

Any planning related queries should be directed to the Local Planning Authority Wokingham Borough Council.

Business Rates

Interested parties should enquire with the local billing authority Wokingham Borough Council.

Tenure

The property will be sold freehold, and the Vendors would also consider sale of the site in part. The Vendors will give an undertaking that if desired, vacant possession will be given upon completion.

Energy Performance Asset Rating

To be confirmed.

Services

We are advised that mains electricity, water and drainage services are available for connection to the property. However, prospective purchasers are advised to make their own independent enquiries of the individual authorities to verify the capacity and availability of such services.

Method of Sale

The site’s freehold interest 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.

The site is offered as a whole, but offers for part may be considered, both conditional and unconditional offers are invited.

Unconditional Offers
If an unconditional offer is accepted, completion is to take place within four weeks of exchange of contracts with 10% payable on exchange and the full balance of the purchase price payable immediately upon completion of the sale.