Bracknell
Type: Stretch senior loan – planning
Loan amount: £11.7m
Term: 2 years
Location: Bracknell
Loan secured against a 4.3-acre freehold business park in Bracknell, comprising c.68,500 sq ft (NIA) of office space with significant residential redevelopment potential. The office space is 32% vacant and income will be managed to achieve vacant possession in line with granting of planning permission.
ASK’s client intends to obtain planning permission for a mixed-use scheme comprising c.500 residential units alongside c.15,000 sq ft of commercial space.
The site benefits from excellent connectivity being linked to the train station via a footbridge and will serve as a “marker building” for the train station moving forward. Bracknell is also undergoing significant regeneration being driven by the Bracknell Regeneration Partnership, a joint venture between Legal & General and Schroders
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