A search has begun for a joint venture partner to deliver development on a 13.5-acre site next to the new Shinfield Studios.
Trustees of University College of Estate Management (UCEM) say they want a partner to help deliver their vision for ‘an exemplar, sustainable development’ at the college’s Shinfield Grange site.
UCEM says any scheme must align with its values of legacy, social value and environmental contribution. The site has been owned by UCEM since 1989 but now Savills has been appointed to look for the joint venture partner.
Amanda Clack, chair of trustees of UCEM, said: “As UCEM’s academic offering and course contents are principally online, Shinfield Grange is now surplus to operational requirements.
“Having assessed a variety of options as to how the property can be best utilised going forward and in accordance with the objectives of UCEM as a charitable organisation, the trustees have decided that redevelopment of the property is the most appropriate objective.
“The trustees are looking to work with a partner in joint venture who shares UCEM’s vision for Shinfield Grange. This is an exciting opportunity in a rapidly changing macro and micro location for a development partner to work with UCEM, itself a key stakeholder with a deep, rich heritage in the area.”
Ashley Wheaton, principal and chief executive of UCEM, said: “In principle, we have an open mind as to future uses for the site and have reached the stage where it is the right time to bring in a development partner who can add a wealth of experience and delivery capabilities aligned with our own values to optimise the opportunity at Shinfield Grange.”
Savills director Ed Keeling said: “This is a unique opportunity to enter into a joint venture with UCEM and deliver a sustainable development that will contribute to future growth while upholding the institution’s legacy and charitable obligations.”
© Thames Tap (powered by ukpropertyforums.com).
Sign up to receive your free weekly Thames Tap newsletter here.
