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Agent's details

Land At Wigmore Lane, RG7

For sale: POA|To rent: ROA|3.7 Acre|Land, Commercial Land

Property details

FOR SALEPOA
TO RENTROA
SIZE3.7 Acre
ADDRESSLand At Wigmore Lane, Theale, Reading, RG7 5HH
TYPELand, Commercial Land
TENURETo Let, For Sale Freehold, For Sale Leasehold
POSTED ON20th May 2024

Description

Key Points

  • Commercial development opportunity
  • Approx. 3 minute drive to M4 J12
  • Improved road access agreed in principle with Network Rail
  • Rail Connection Agreement available with Network Rail
  • Site strategically positioned for future rail expansion
  • Summary

    Commercial development opportunity for a rail connected site suitable for freight, available for sale or to let in Theale, West Berkshire

    Description

    The site is situated at the end of Wigmore Lane, immediately adjacent to the main railway line. The site comprises approximately 3.7 acres (1.5ha).

    The topography is predominantly flat with a range of scrub. There was previously a builder’s yard and various outbuildings on the site, but these are now in a state of disrepair and the site is derelict. The site is allocated for rail-based employment use and is part of a larger industrial area which has historically been occupied for railway servicing used for the purposes of transferring goods from rail to road. This includes amongst others fuel storage and cement and aggregate plant.

    Access to the property is via the northwest corner of the property. A new/improved access road for the property has been agreed in principle with Network Rail. This will mean access is no longer down the narrow lane past the residential houses. Instead, this will be a fit for purpose industrial estate road running through/past Puma’s site.

    An Agreement is has been reached with Network Rail to provide a connection into the rail network via a rail siding through Network Rail land and onto the subject site.

    Please refer to the marketing particulars for a detailed overview of the site.

    Location

    The site lies approximately 1 mile to the southwest of Junction 12 of the M4 in Theale, accessed via the A4 Bath Road. Nearby properties include a lane of residential houses, Theale Fire station, and directly next door are industrial sites also connected to the Great Western Railway line.

    Reading town centre with its multiple facilities lies approximately 4 miles to the south-east. The M4 is the closest motorway, running from West London to Swansea, with easy access to the M25 and the M5. Heathrow airport is also nearby.

    The site has excellent rail connections, with Theale railway station providing regular direct services to London Paddington (via Reading), as well as Exeter and Penzance. Connections include Bristol, Swansea, Southampton, Brighton, Gatwick, Guildford, Banbury, Gloucester and Hereford.

    Theale is also well connected on the UK freight railway network.

    Availability_text

    The accommodation comprises the following areas:

    Future Rail Expansion

    A provision for future rail expansion must be taken into consideration and all siding designs will not fetter further rail connections to the west. This requirement will ensure any further sites can be fully considered and implemented for rail use.

    Planning

    An independent planning report has been commissioned which highlights the importance of rail freight at a National level and the need for further expansion. The subject site could be in a strong strategic position should there be a need for future rail freight expansion in the Theale area. We would ask interested parties to review the Planning Report in full, which can be found in the Information Pack.

    Planning Policy Position

    The adopted Development Plan for West Berkshire allocates the Theale Railhead site for rail-based employment use under saved Policy ECON.7 and this is reflected in the new Waste & Minerals Plan due to be adopted in December 2022. An extract from the Policies Map is given below. West Berks are reviewing their Development Plan and a Regulation 19 version of the emerging Local Plan is due to be considered at Full Council on the 1st December 2022, in line with the October update of the Local Development Scheme. The Local Transport Plan is also in the process of being updated, with a draft due for publication in early 2023.

    The regulation 18 version of the emerging Local Plan states that the road-rail transfer facility at Theale is “expected to continue to grow” and “Theale is the only location which offers road-rail transfer facilities in the area. As a result, it is important to the local economy that this continues to be protected and grows.” [Section 12]. We expect the importance of rail-road transfer facility at Theale to carry through to the forthcoming Regulation 19 version of the Local Plan, indeed the Strategic Investment Plan published by Transport for the South East in June 2022, includes a Theale Strategic Rail Freight Terminal which we expect to be reflected in the draft Local Transport Plan.

    The Future of Freight – Published by Department of Transport 2022

    The Department of Transport have recently prepared a report “The Future of Freight”. The report sets out a plan for government and industry collaboration going forward and states their shared vision for the UK freight sector. A copy of the report is available via the linked image below.

    Tenure

    The entire property is freehold/leasehold.

    Full vacant possession of the property will be given upon completion of the sale.

    Business Rates

    The property lies within the administrative authority of West Berkshire Council (the Rating Authority) and business rates will need to be assessed.

    Services

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

    VAT

    The site is not elected for VAT. Therefore, VAT will not be payable on the purchase price.

    Method of Sale

    The property’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 property from sale or to vary the method of sale at any time without notice.

    The property is available to Freight Operating Companies. In addition, it would suit developers or end users with a supporting letter from haulier. Expressions of interest are sought in the first instance.

    We would refer you to the Data Room for further information.

    Disposal of the site would be subject to formalisation of the rail connection agreement with Network Rail and construction of the new access. Purchasers may also wish to undertake the access construction works themselves. Further information is available on request.

    Any offer needs to reflect the potential enabling of neighbouring land via the rail connection, which must cross our client’s land. Offers must not be conditional on securing this or any other land locally.

    Alternatively, a letting of the site would be considered.

    Viewing And All Other Enquiries

    All enquiries should be directed to the vendor’s sole agent: Neil Seager,
    Haslams Surveyors LLP.

    Vehicular access to the property during viewings will be available via Wigmore Lane and not via the Puma site.

    Please note that parties must not enter the site outside the viewing times without our prior authority and any inspection of the property is at the prospective purchaser’s risk.

    Anti-Money Laundering Regulations

    To comply with Anti Money Laundering regulations, Haslams Surveyors LLP undertake ID checks for all successful purchasers and tenants where legislation requires us to do so.

    Location

    marker
    Location: Land At Wigmore Lane, Theale, Reading, RG7 5HH

    Theale (0.8 miles)

    Aldermaston (3.7 miles)

    Pangbourne (3.9 miles)

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