Plans for speculative 350,000 sq ft Bracknell business park
A joint venture between Credit Suisse Asset Management Global Real Estate, Chancerygate and Hines, has submitted plans to speculatively build a 350,000 sq ft business park in Bracknell.
Called Network West, the 18.75-acre site is currently home to Hewlett Packard Enterprise UK’s headquarters. The planning application will see 24 units ranging from 3,500 sq ft to 43,000 sq ft built on the site, with the developers also able to accommodate larger bespoke units up to 350,000 sq ft.
The proposals for Network West are to provide speculative industrial, warehousing and logistics accommodation. Its power infrastructure and fibre connectivity also makes the site suitable for data centres or film production facilities.
Chancerygate head of development, Alastair King, said: “Our proposed development will be the largest we have built and reflects the confidence we have in the market for industrial and warehousing space, which is driven by particularly strong demand from potential occupiers in this region.
“The fact that so many online retailers have taken up additional warehousing space over recent months to alter their supply chains has reduced supply. As a specialist in speculative development, the combination of an appealing site and a healthy dynamic between supply and demand created the perfect opportunity for us to play to our strengths alongside our joint venture partners."
Chancerygate recently announced that it had achieved practical completion for its speculatively built 94,000 sq ft, £10.2 million Furlong Business Park scheme at Bishops Cleeve near Cheltenham, with almost a third of the development’s available units already sold.
Bracknell is home to headquarter offices for major businesses including Vodafone, Fujitsu, Honda and Waitrose.
Greg Cooper, Hines UK director of industrial and logistics, adds: “With excellent motorway links and the ability to serve such a large proportion of the population, Network West provides a fantastic opportunity for businesses looking to either expand or relocate their operations.
“The site’s wider appeal to data centre users and film production companies, a number whom have already enquired about bespoke facilities, is another avenue we are exploring.”
Joint agents on the scheme are BNP Paribas and JLL.
