S2 Estates sells £150m development site in Berkshire

Acting on behalf of S2 Estates, the Residential Development Land team of global property consultancy Knight Frank has sold a £150m GDV development opportunity in Bracknell, Berkshire.

The site known as Bracknell Beeches was acquired by Weston Homes. Bracknell Beeches benefits from full planning permission for the construction of 349 residential apartments. The proposed scheme consists of seven new buildings ranging from four to 16 storeys and will offer approx. 350,000 sq ft of residential floorspace.

Approx. 3,165 sq ft of flexible commercial and community space will also be provided.

The site is located in the heart of the recently regenerated Bracknell town centre and is close to The Lexicon, one of the top retail destinations in the south east.

Under one hundred metres away from the site is Bracknell train station, providing regular services into London Waterloo, Reading and Ascot. A short drive away from Bracknell is Reading train station, which sits on the Elizabeth Line and offers convenient and frequent rail links into central London.

Tim Traynor, a partner in the residential development land team at Knight Frank said: “Bracknell Beeches is strategically located within an amenity rich area, and the development benefits from excellent transport links directly on its doorstep.

“A scheme of this nature rarely becomes available and is often popular with young professionals who work between Reading and central London as well as Bracknell itself, and who want both a convenient commute and access to the abundance of green spaces, excellent schools, and brilliant rail and road connections that living in Berkshire offers.

“As a result we saw strong interest from both developers and investors for this development opportunity, and were delighted to broker the deal between S2 Estates and Weston Homes”.

Dawn Wylie, land director at Weston Homes said: “The acquisition of this development site in Bracknell fits Weston Homes’ particular expertise in regenerating underused brownfield sites within urban centres, and we are excited to be bringing forward this exceptional scheme.

“Its close proximity to Bracknell Station and the town centre are a particular draw for both future residents and occupiers of the proposed ground floor commercial spaces. We expect this high-quality development to set a new standard in the area and are delighted to be expanding our portfolio into Bracknell”.

Sam Berg, director at S2 Estates said: “Having worked closely with Bracknell Forest and local stakeholders to achieve a detailed planning consent, we were delighted that Knight Frank were able to structure a deal with Weston Homes to bring forward this vacant brownfield site. We look forward to seeing the many benefits the development will bring to this part of Bracknell”.

By Mark Adair – Correspondent, Bdaily

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