Savills - Industrial Development - Ascot, Berkshire

Date: 17 Jul 2008

Salmon Harvester Properties and partner Raspin Properties Ltd, advised by Savills and Wadham and Isherwood, have started construction at Ascot Business Park, Ascot, Berkshire.

Planning consent was secured last year for a business park comprising 99,000 sq ft (9,200 sq m) of Grade A office space, Studio Workshop units and industrial warehouse units, 62% of which have been pre-sold with a further 4,852 sq ft (451 sq m) under offer.
The former Mitsui/NuPetra site totals approximately 4.5 acres (1.8 hectares) and is situated a one minute walk from Ascot train station and within very close proximity to the town of Ascot and its world famous Racecourse.

The nine industrial units total 39,681 sq ft (3,686 sq m) and range in size from 2,044 sq ft (190 sq m) to 16,007 sq ft (1,487 sq m). Prices achieved so far have set a recent record for the Thames Valley, with prices equating to £250 per sq ft GIA. Purchasers of these units include several notable regional companies. The units are set for completion in November 2008.

The studio workshop units total 10,859 sq ft (1,008 sq m), arranged in eight units, three of which are now under offer. The quoting price for these units is £220 per sq ft. The Staines office of Wadham and Isherwood is instructed as sole agent on the industrial and workshop phase.

Jonathan Gardiner, director of Savills regional office agency team, comments: "As already demonstrated by the pre-sales of the industrial units, Ascot Business Park is proving to be extremely attractive to businesses in the locality. With its excellent connectivity to local towns and London and its position in the heart of the Thames Valley we are looking forward to working with Salmon Harvester and RPL on letting the office element of this already very successful scheme."

The office phase, known as Queen Anne's Square, will total 45,155 sq ft (4,195 sq m) and comprise two three-storey, high specification office buildings of 14,000 sq ft (1,300 sq m) and 9,477 sq ft (881 sq m), as well as eight smaller units ranging from 2,084 sq ft (194 sq m) to 5,180 sq ft (481 sq m). These are due for completion in February 2009. The guide rent is £27.50 per sq ft and £400 per sq ft for the long leasehold interests.

Ascot Business Park