Our clients, Premier Property Group, have sold a site of 2.2
acres on London Road, Bracknell to One Property Group for a figure in excess of
£3million.
The land represents part of an investment, that Wright &
Partners introduced and advised upon. Bought some years ago, namely Foundation
House and Radius Court, two large office buildings strategically
located between London Road and Eastern Road, just to the south east of
Bracknell town centre.
Having found tenants for the vacant part of Radius Court the
investment was sold on by our clients. Foundation House was demolished and a
planning consent secured for a 90,000 sq ft office head quarters building.
With the recession hitting the commercial property market
hard, that proposed redevelopment became unviable. More recently Bracknell
Forest District Council have allocated the site, together with the joining
properties, as being suitable for residential development and it is understood
that One Property will now seek to assemble a larger redevelopment site to
allow a comprehensive residential led mixed use redevelopment of the area.
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