A development site in Bracknell, worth a potential £150 million, has been acquired by Weston Homes.
Knight Frank’s residential development land team completed the sale of Bracknell Beeches business park on behalf of S2 Estates.
The site, close to the railway station, has full planning permission for 349 residential flats. The proposed scheme consists of seven new buildings ranging from four to 16 storeys and will offer around 350,000 sq ft of residential floorspace and 3,165 sq ft of flexible commercial and community space.
Tim Traynor, partner for 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 for 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 of S2 Estates, said: “Having worked closely with Bracknell Forest (Council) 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.”
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