260-270 Bartley Wood Business Park, Hook, Hampshire, RG27 9UP Market Review

On behalf of UKSEI Ltd 21st March 2018

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CONTENTS

1.0 INTRODUCTION .................................................................................................................. 3

2.0 THE BUILDINGS .................................................................................................................. 3

3.0 SUMMARY OF THE CURRENT MARKETING CAMPAIGN ......................................... 6

4.0 THE MARKET ....................................................................................................................... 7

5.0 CONSTRAINTS OF BARTLEY WOOD BUSINESS PARK ......................................... 13

6.0 CONCLUSION .................................................................................................................... 14

APPENDIX 1 – Site plan and location maps

APPENDIX 2 – Copy of Hollis Hockley’s marketing brochure for 260 Bartley

Wood Business Park

APPENDIX 3 – Copy of RARE’s marketing brochure and Showcase

advert.

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1.0 INTRODUCTION

Curchod & Co are instructed to prepare a marketing report on 260-270 Bartley Wood Business Park, Hook. This report summarizes the current and historical office market within the Blackwater Valley region where Bartley Wood Business Park sits, outlining trends and also considers the future viability for 260-270 Bartley Wood Business Park.

The author Nick Reeve is a member of the Royal Institution of Chartered Surveyors and has been in practice in the Surrey and North Hampshire region since 2003 dealing in all aspects of commercial property agency including valuation, rent review and lease renewals. Nick was formerly a Director of Wadham & Isherwood Farnham and Camberley until January 2018 when his company merged with Curchod & Co LLP. He is now a Partner of the enlargened Curchod & Co LLP which has offices in Farnham, Camberley, Woking and Weybridge.

Nick has been supported by David Bowen in preparing this report. David has worked as a specialist commercial property agent focused on the M3, M4 and A3 corridors since 1988 with much of his career spent at Vail Williams. Vail Williams were involved in assembling the land to create Bartley Wood Business Park so David brings a wealth of historical knowledge to the project.

Curchod & Co have a particularly strong presence in, and knowledge of, the North Hampshire commercial property market, having operated in the area for over 30 years.

2.0 THE BUILDINGS

2.1 Description

260-270 Bartley Wood Business Park comprise two purpose-built office buildings that are currently interlinked via a glazed walkway. The buildings form part of a large campus development that includes a third building known as 280 Bartley Wood Business Park but this we understand is in separate ownership.

Internally, the buildings provide open plan, flexible accommodation capable of being sub divided. Each building benefits from impressive double height reception areas, fully accessible raised floors, suspended ceilings, air conditioning, passenger lifts, restaurant, male/female and disabled WC’s, shower facilities.

The properties have 658 car parking spaces equating to an excellent ratio of 1 space to 186 sq ft.

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Building 260

Building 270

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2.2 Floor areas We are advised that the buildings have the following net internal floor areas:-

Building 260

Floor Description Floor area

SQ FT SQ M

Ground Reception 1,125 104.48

Ground Office 15,595 1,448.82

First Office 15,735 1,461.79

Second Office 16,754 1,556.54

49,209 4,571.63

Building 270

Floor Description Floor area

SQ FT SQ M

Ground Reception 1,287 119.52

Ground Office 23,600 2,192.55

First Office 23,551 2,187.96

Second Office 24,897 2,312.97

73,335 6,813.00

Total 122,543 11,384.63

2.3 Location See Appendix 1 – Location Map

Hook is an established centre within the Hart District Council area of northern

Hampshire and forms part of the Blackwater Valley conurbation which is the name used by the Office of National Statistics to refer to the conurbation on the border between Surrey, Berkshire and Hampshire. Other towns included within this conurbation include Farnborough, Fleet, Aldershot, Sandhurst, Blackwater, Frimley, Yateley, Farnham, and Camberley.

Hook is strategically located adjacent to the M3 (Junction 5), 43 miles south west

of Central London. The M3 provides access to other surrounding towns including Basingstoke, Fleet, Camberley and Southampton. The M25 (Junction 12) is also easily accessible, 21 miles to the north east providing fast access to the national motorway network.

Hook railway station is a short walk from Bartley Wood Business Park and

provides a direct service to London Waterloo and Southampton. The station

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benefits from four trains per hour at peak times providing a fastest journey time to Waterloo of 53 minutes.

2.4 Situation Bartley Wood Business Park is situated due south of Hook centre, in the heart of

the Blackwater Valley. The Park is less than 1 mile from the M3 (Junction 5) via the B3349 and within 0.6 miles of Hook Railway Station. The town centre is within walking distance from the Park providing access to a range of local retail facilities as well as a number of pubs and restaurants.

The Park was developed by Crest Nicholson in 1990 and comprises 14 office

buildings totalling approximately 600,000 sq ft (55,740 sq m) across 43 acres of mature and attractive parkland.

The Park has recently seen a rise in interest from residential developers as a

result of the relaxed planning regulations around Permitted Development and the continued constraints on the level of residential stock that can be delivered. Recently Providence House, Europa House and Hartley House have all been acquired for residential development / conversion.

2.5 Tenancies Buildings 260 & 270 are let in their entirety on full repairing and insuring leases

to Virgin Media Ltd on two separate leases which expire in October and November 2019 respectively. Virgin Media Ltd (formerly NTL) have occupied the buildings since construction in 1999.

We are advised that Virgin Media have not occupied 260 Bartley Business Park

since 2014.

3.0 SUMMARY OF THE CURRENT MARKETING CAMPAIGN

3.1 Leaseholder (Virgin Media) marketing campaign – 260 Bartley Wood Business Park Basingstoke based Commercial Agents, Hollis Hockley have been marketing the

vacant 260 Bartley Business Park since 2015 on behalf of Virgin Media. The campaign has centred on Virgin Media offering a sub-lease until their lease expiry in November 2019.

See Appendix 2 to view a copy of Hollis Hockley’s marketing brochure. We are advised that the marketing brochure has been mailed to larger occupiers in the area as well as to Hollis Hockley’s in house database of applicants, local and London based commercial agents in the hope that they may have corporate clients looking for new office accommodation. Virgin Media have not allowed Hollis Hockley to erect any marketing boards for fear of creating negative PR for the business.

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3.2 Freeholders marketing campaign – 260-270 Bartley Wood Business Park It is believed that Virgin Media are actively looking to relocate from Bartley Wood

Business Park to the M4 region. We understand that a number of buildings have been shortlisted but no final decision has been made.

On this basis the Freeholder, UKSEI Ltd / SevenCapital have instructed the

Reading based firm and office Agency specialist RARE to undertake a ‘Soft’ marketing campaign of 260/270 Bartley Wood Business Park seeking out any pre-let opportunities for the buildings ahead of the Virgin Media lease expiry in late 2019.

RARE’s marketing campaign has concentrated on targeting the larger employers

in the region as well as local and London based Commercial agents in the hope that they may have Occupier clients who are looking to relocate to the area.

We are advised by RARE that Virgin Media have not allowed any marketing

boards to be erected on site for fear of negative PR. The leases however do allow for the Freeholder to erect marketing boards within 6 months of the expiry of the current leases and therefore boards will be erected as soon as it is permitted to do so (April / May 2019).

See Appendix - 3 to view a copy of RARE’S current marketing particulars as well

as a copy of an advert on the Show Case web portal. As a result of a conversation with RARE it is clear that enquiries have been few

and far between and as Virgin Media’s lease expiries become more imminent the intention is to ramp up the marketing campaign.

3.3 Summary of the enquiries received To date neither Hollis Hockley or Rare have reported any serious enquiries or

viewings. The marketing campaigns continue albeit that it is less likely that Hollis Hockley will find a tenant who is willing to consider a short-term sub lease on buildings of this size. If a tenant was found that wanted a longer lease commitment they could potentially negotiate with the freeholder to surrender their lease early and grant a new longer term lease.

4.0 THE MARKET

4.1 Defining the market

The subject buildings are located in Hook which sits within a defined office market known as the Blackwater Valley. The Blackwater Valley office market includes Hook, Farnborough, Fleet, Aldershot, Sandhurst, Blackwater, Frimley, Yateley, Farnham, and Camberley. Typically occupiers within the Blackwater Valley towns predominantly tend to stay within the area when expanding or contracting. Other nearby competing

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office markets include Basingstoke, Reading, Bracknell, Woking and Guildford although all of these markets operate very separately and occupiers rarely leave unless they are looking to merge existing facilities.

4.2 Current vacant office stock being actively marketed in the Blackwater Valley Basingstoke A study by the Enterprise M3 LEP titled ‘The Enterprise M3 Commercial Property Market Study (2016)’ identified the Blackwater Valley market area as having the highest office vacancy rate in the Enterprise M3 LEP area (stretching for approximately seventy-five miles through Hampshire and Surrey from the New Forest in the south to the perimeter of Heathrow Airport in the north). At that time the study found that 1,259,408 sq ft (116,999 sq m) of office space was available and was being actively marketed in the Blackwater Valley. Research undertaken by Curchod & Co shows that there is currently (Feb 2018)

approximately 871,391 sq ft (80,952 sq m) of office space available in the Blackwater Valley towns with a further 925,628 sq ft (85,991 sq m) available in Basingstoke.

It is worth noting however that new developments at Basingview contribute a

significant proportion of Basingstoke’s office availability, the above figures include pre let opportunities which are on the market, but not currently under construction. If these pre-let opportunities are removed the stats for Basingstoke reduce to 575,628 (53,476 sq m).

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Whilst on the face of it the reduction to the Blackwater Valley office vacancy level

is encouraging in reality this reduction is not caused by a spike in letting activity but by the removal of Sun Park in Fleet totalling approx. 280,000 sq ft (26,012 sq m) from the market due to it being earmarked for redevelopment to residential. There have also been a significant number of buildings sold to developers who intend to or have already converted to residential under relaxed Permitted Development rights and this has reduced the total vacant stock and particularly those buildings at the lower end of the market that were at or close to the end of their useful life.

4.3 2017 Office Take-up

Demand in recent years has been subdued across all size ranges despite the

more buoyant economy and this is particularly true for larger requirements. The

average transaction size for 2017 was just 13,185 sq ft (1,225 sq m).

There were 14 transactions in 2017 above 5,000 sq ft (464.5 sq m) and all 14 were

for Grade A office buildings clearly demonstrating occupiers preference to seek

better quality accommodation.

Aldershot1%

17,945 sq ft

Basingstoke52%

925,628 sq ft

Frimley9%

160,364 sq ft

Camberley8%

149,643 sq ft

Farnborough16%

283,900 sq ft

Fleet6%

116,483 sq ft

Hook8%

143,056 sq ft

Current vacany levels - Feb 2018(Build ings of 5,000 sq ft +)

Aldershot Basingstoke Frimley Camberley Farnborough Fleet Hook

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The long-term average annual office take up in the Blackwater Valley has declined

rapidly. During the 10 years from 1998 – 2007 the average annual take up was

350,931 sq ft (32,601 sq m). In the last 10 years between 2008 – 2017 that figure

had fallen to 227,283 sq ft (21,115 sq m) or 183,973 sq ft (17,091 sq m) excluding

BMW and BOC). This is a reduction of 35% or 48% when the BMW and BOC deals

are stripped out.

Average annual deal size in the Blackwater Valley over the last 5 years (2012-2017)

is summarised as follows:-

Year Average deal

size SQ FT

Average deal

size SQ M

No of Deals

2012 14,445 1,341.94 15

2013 31,477 2,924.21 17

2014 17,094 1,588.03 17

2015 11,427 1,061.56 13

2016 9,997 928.72 11

2017 13,185 1,224.88 14

The above take up statistics are significantly affected by 2 windfall deals. In 2013

BMW purchased the former Nokia Campus in Farnborough which totalled 305,100

sq ft (28,344 sq m) and in 2014 British Oxygen Company sold its former

headquarters in Windlesham totalling 128,000 sq ft (11,891 sq m) to Kamkorp.

If we exclude the BMW and Kamkorp deals the average annual deal size in 2013

reduces to 16,343 sq ft (1,518 sq m) and in 2014 to 13,550 sq ft (1,258 sq m).

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The annual office take up in the Blackwater Valley over the last 5 years (2012 – 2017) is summarised in the table below:-

Once again the statistics are significantly affected by the 2 windfall deals mentioned above.If these windfall deals are stripped out the statistics look very different, see table below.

At 184,000 sq ft (17,094 sq m), take-up in the Blackwater Valley in 2017 was very close to the 10 year average. Two transactions provided almost 36% of this take-up – a letting to Time Inc of the balance of Pinehurst II, Farnborough Business Park (36,070 sq ft (3,351 sqm)) and 30,879 sq ft (2,869 sq m) to Fluor at Brennan House, Farnborough Aerospace Centre.

216,682 sq ft

566,588 sq ft

290,597 sq ft

125,692 sq ft 109,965 sq ft

184,583 sq ft

0

100,000

200,000

300,000

400,000

500,000

600,000

2012 2013 2014 2015 2016 2017

Annual office take up in the Blackwater Valley 2012-2017 (SQ FT)(Lettings of 5,000 sq ft +)

216,682 sq ft 261,488 sq ft

162,597 sq ft 125,692 sq ft 109,965 sq ft

184,593 sq ft

0

100,000

200,000

300,000

400,000

500,000

600,000

2012 2013 2014 2015 2016 2017

Annual office take up in the Blackwater Valley 2012-2017 excluding windfall deals (SQ FT)

(Lettings of 5,000 sq ft +)

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In summary the annual take up and 10 year average annual take up figures have declined dramatically over the last 20 years. As a result their remains a significant oversupply of office buildings in the Black Water Valley and this oversupply is depressing rental and freehold values.

4.4 Trends

Step-change reduction in large requirements - Research by Lambert Smith Hampton

(LSH) in 2017 titled ‘Thames Valley Office Report’ has found a step-change in the

size of office space sought in the wider Thames Valley region since 2015. The

Thames Valley region encompasses the Blackwater Valley, Bracknell, Guildford,

Heathrow, Maidenhead, Newbury, Oxford, Reading, Slough, Staines and Uxbridge

so the research is a useful barometer for wider market trends.

The research found an increasing trend of occupiers looking for small and flexible

space (up from 40% to 50% for 5,000 (465 sq m) – 10,000 sq ft (929 sq m)

requirements) and a fall of 61% in the number of 30,000 sq ft (2,787 sq m)

plus enquiries.

The research found enquiry levels to be a good barometer for a real change in the

market which has seen large organisations consolidate, create shared work spaces

and save costs, and a momentum in the growth of SMEs, particularly in the TMT and

pharmaceutical sectors.

LSH report that average transaction sizes (over 5,000 sq ft (465 sq m)) in the Thames

Valley have fallen since early 2015 – the average quarterly total has consistently

moved downwards. Further, the rolling quarterly average transaction size has fallen

steadily – by 25% from 16,900 sq ft (1,570 sq m) in Q3 2015 to 12,700 sq ft (1,180 sq

m) in Q1 2017, this trend being particularly prevalent in Reading, Slough, Blackwater

Valley, Uxbridge and Woking with few large requirements coming to the market.

Flight to quality - Over the last few years there has been a clear trend for occupiers

to choose the ‘best in class’ Grade A accommodation that is close to good public

transport and larger conurbations which offer greater amenities to attract graduates

many of whom do not have cars.

Grade A office accommodation can broadly be defined as having a high quality

standard of finishes, state of the art systems, exceptional accessibility and a definite

market presence.

Unsurprisingly The Grade A office accommodation at Farnborough Business Park has

been by far the most popular in the Blackwater Valley area despite its premium rent.

Farnborough Business Park is the most modern park in the region offering occupiers

greater energy efficiency, functionality and unrivalled amenities including restaurants,

café’s, gym, hotel, a shuttle bus service linking the business park to the town centre

and close proximity to Farnborough mainline train station (fast train to Waterloo

30mins).

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Those business parks with a poor amenity offering and dated buildings have struggled

to attract tenants, and any lettings that have been achieved have been agreed at

significantly lower rentals and with larger incentives than the Grade A alternatives.

Bartley Wood Business Park and Ancells Business Park in Fleet are examples of

dated office Parks with a lack of amenities that clearly demonstrate this trend.

Efficiencies – Over the last 20 years and particularly since the global financial crisis

occupiers have got a lot smarter in the way they occupy their office accommodation.

This has caused a general reduction in demand due to globalisation, home working,

IT efficiencies leading to flexible working (hot desking) and greater occupational

density.

5.0 CONSTRAINTS OF BARTLEY WOOD BUSINESS PARK

• Multiple ownership – The lack of master planning on Bartley Wood Business

Park as a result of fragmented ownership has prevented a long-term strategy

and mind set being formed. As a result Bartley Wood Business Park lacks

presence, there is no obvious entrance to the park with limited estate signage

welcoming visitors and directing traffic. The same applies to the parks

landscaping which is disjointed and in certain areas badly kept.

• Building Quality – Whilst the buildings on Bartley Wood Business Park were

well designed and specified at the time of construction they are now looking

dated, certainly when compared with the new Grade A buildings on

Farnborough Business Park and Basing View which are designed to current

day standards and are far more energy efficient. Curchod and Co have been

involved with a number of Institutionally owned buildings in the Blackwater

Valley that have been comprehensively refurbished to bring them back up to

a Grade A condition. These refurbishments have typically cost between £80-

£100 per sq ft and have involved new M&E, new suspended ceilings and LG7

compliant recessed LED lighting, upgraded receptions / WC’s, new raised

floors, total redecoration, reconfigured car parks and the addition of shower

areas and bike storage. Once Virgin Media vacate the Freeholder will need

to spend £80-£100 per sq ft / circa £9.75 -£12 million to bring them up to a

Grade A standard. The lack of demand, lengthy void, depressed rental value

and significant incentive that will have to be granted to an incoming tenant

makes it extremely difficult to justify the return on cost.

• Lack of amenities - Another consequence of the fragmented ownership of the

park is the lack of onsite leisure facilities. Today’s modern occupier places as

much importance on the range of facilities available to its staff as on the

buildings specification and design.

• Permitted development – Several key buildings within Bartley Wood Business

are currently being converted to residential as a result of the relaxed planning

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laws enabling offices to be changed to residential without the need for a full

planning consent. Providence House totalling 87,175 sq ft (8,099 sq m)

(formerly Greenwell House) is one of the most prominent buildings on the Park

and is currently being converted into 107 residential units. This trend is

happening throughout the region and reflects the lack of demand from office

occupiers

• Secondary Location – The market perception of Hook is that it is really a large

village that has become a bit a secondary location when compared to some

of the other nearby Grade A business centres such as Basingstoke,

Farnborough, Reading etc. As a result, Hook is often bypassed by occupiers

who prefer the larger more established business centres with a larger

population catchment and greater access to public transport.

• Rail connections - The new franchise holders for the South West Trains,

including the Waterloo to Basingstoke line recently consulted on their

proposed new timetable which is to come into action in December 2018. Their

original proposals resulted in Hook and Winchfield (with 1,192,904 entries and

exits per year from the station) having a half hourly service with no A.M. peak-

period additions. Following pressure from Ranil Jayawardena MP South

Western Railway committed to consult on an alternative timetable, which

protects the level of service from Hook, Winchfield and Fleet. No decision has

yet been made but the London rail link is critical to the success of Bartley

Wood Business Park as a Business centre and the uncertainty over its

continued frequent service will undoubtedly cause concern to potential

occupiers.

• Urban Tendency - Rapid changes in the way people live and work have driven

growth within many towns throughout the South East. This urban tendency

has also been seen within the office occupier market with increasing numbers

of businesses wishing to locate in, or close to major towns and cities.

Business Parks that are well connected in terms of public transport, have good

parking provisions and best meet the needs of todays’ occupiers by providing

a productive and attractive work environment are the most popular. Within

the Blackwater Valley / Basingstoke area the statistics demonstrate a flight

towards those locations that fulfil this criteria.

6.0 CONCLUSION

• The Blackwater Valley office market has become polarised with clustering

taking place in the most popular locations such as in Farnborough to including

Farnborough Business Park and to a lesser extent Farnborough Aerospace

Centre.

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• Many other office locations within the Blackwater Valley are struggling to

attract occupiers with depressed rental values caused by a lack of demand

and leasing activity.

• The long-term average annual take up figure has fallen dramatically in the last

20 years, as has the average transaction size. There is currently 871,391 sq

ft (80,952 sq m) of vacant office space on the market within the Blackwater

Valley area amounting to approximately 4.7 years supply.

• Occupiers are managing their estates much more efficiently, driving greater

occupational efficiencies by occupying space more intensively through home

working and hot desking. As a result there is an oversupply of office space,

generally and particularly within the Blackwater Valley area.

• Whilst Permitted Development has taken a large slice of the older and

outdated buildings out of the market there is still a glut of office space in less

popular locations.

• The best quality Grade A business parks and buildings with access to

excellent amenities and transport links will continue to thrive whilst the rest will

struggle.

• Clustering around the most popular business locations may lead to a lack of

supply in these areas and as a result occupiers may be forced to consider

options on nearby business parks.

• 260-270 Bartley Wood Business Park offer accommodation that is larger than

the market can sustain. There have only been 2 significant deals in the last

5 years where the Lessors / Purchasers were large enough to consider 260-

270 Bartley Wood Business Park.

• The Cost of refurbishing 260-270 Bartley Wood Business Park at circa £80-

£100 per sq ft or £9.75-£12million can not be justified.

• Given the lack of larger office requirements in the region and the very real risk

of having a considerable and costly void, consideration should be given to

investigating whether it will be possible to obtain a change of use to residential

to bring the buildings back into beneficial use once Virgin Media vacate.

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Surrey and North Hampshire’s Leading Chartered Surveyors and

Commercial Agents Farnham 8 Borelli Yard, Farnham, Surrey GU9 7NU 01252 710822 Camberley 4A Priory Court, Tuscam Way, Camberley, Surrey GU15 3YX 01276 682501 Woking Morris House 34 Commercial Way, Woking, Surrey GU21 6EN 01483 730060 Weybridge Portmore House, 54 Church Street, Weybridge, Surrey KT13 8DP 01932 823610

www.curchodandco.com This report has been prepared by Curchod & Co LLP

APPENDIX 1 – SITE PLAN AND LOCATION MAPS

Site Plan

Location Maps

wellconnected@260bartleywood

Unique opportunity for top quality, fully fitted, ‘Ready to Go’ office space.7,721 sq ft – 48,196 sq ft (717.3 sq m – 4,477.4 sq m)

TO LET ON FLEXIBLE LEASE TERMS On instructions from

260 Bartley Wood Business Park, Bartley Way, Hook, Hampshire RG27 9UP

wellconnected@260 totheinternetandlocalinfrastructure

amenities@260l Raised floor access system

l Fitted and ‘ready to go’ offices

l Category 5 cabling

l Air conditioning

l 2 x 13 person (1,000 Kg) passenger lifts

l Category 2 lighting

l Male & female WC’s on each floor

l Disabled WC & shower room

l Double height reception area

l 266 designated on site car spaces

260 Bartley Wood Business Park is purpose built, constructed in 1998 and arranged over three highly specified floors that are accessed via an impressive double height reception area. There is a mix of underground and open car parking which allows for a total of 266 spaces giving an excellent ratio of 1:180 sq ft.

The building can be offered fully fitted and on a ‘Ready to Go’ basis and can be divided, if necessary, into floors and half floors for smaller occupiers.

Hook centre is within ten minutes’ walk and offers a Tesco store, local amenities and a mainline rail station with a fast and regular service to London, Waterloo.

wellconnected@260 totheinternetandlocalinfrastructure

wellconnected@260 tothelocalbusinesscommunity

floorareas@260 The building can be let as a whole or as individual floors, which can be sub divided into half, creating floor space from 7,721 sq ft.

Areas quoted are Net Internal. The unit has been measured in accordance with the RICS Code of Measuring Practice (6th Edition).

POSSIBLE SUB DIVISION

COMMS ROOM

RECEPTION

MALE WC FEMALE WC

LIFT LIFT DISCWC

260 Bartley Wood Business Park comprises part of a mature and established business park where neighbouring occupiers include; BMW, Serco, HP, Uninterruptible Power Supplies and Alphabet.

RAMPIN

260 HAS UNDERGROUND

CAR PARKING FOR 65 SPACES

RAMPOUT

(sq ft) (sq m)

Ground floor reception 910 84.5

Ground floor offices 15,443 1,434.7 First floor offices 15,490 1,439.0 Second floor offices 16,353 1,519.2 Total 48,196 4,477.4

EE P C R a t i n g

Compiled October 2014

Misrepresentation Act 1967: The particulars contained in this brochure are believed to be correct, but they cannot be guaranteed and they are expressly excluded from any contract.

Finance Act 1989: Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax (V.A.T.). Any intending purchaser or lessees must satisfy themselves independently as to the incidence of V.A.T. in respect of any transaction.

wellconnected@260 totheM3andnationalmotorwaynetwork

distances@260roadJunction 5 M3 0.5 miles

London (centre) 43 miles

Basingstoke J6 5.4 miles

Reading J11 10.5 miles

Guildford 25 miles

Southampton 32 miles

railHook Station (walking) 10 mins

London Waterloo 55 mins

airHeathrow airport 32 miles

Gatwick 56 miles

M3A287

Junction 5Odiham/Farnham

HOOK

Griffin Way

Station Road

Station

Tesco Superstore

Griffin Way

Bartley Way

London/M25

Southampton/M27

Basingstoke

Reading/M4Camberley

260bartleywoodSat Nav RG27 9UP

A30

260 Bartley Wood Business Park is situated within 1 mile of the M3 (J5), approximately 7 miles north east of Basingstoke centre and 13 miles south of Reading centre. The M3 provides easy access to the M25 and London, whilst to the south the A303 is the main west country route with the M27 giving access to the south coast cities.

Heathrow, Gatwick and Southampton airports are all motorway destinations and via rail London Waterloo is within 55 minutes.

T E R M SA new lease is available on flexible terms. Alternatively, the existing leashold interest, expiring in November 2019, maybe assigned on terms to be agreed.

V I E W I N GStrictly by appointment through the sole agent.

Andrew Newmanajn@hollishockley.co.uk

Jon Hollisjch@hollishockley.co.uk

DRIVE TIMES Within 15 mins Within 30 mins Within 45 mins

Offices:ToLet

TwoHeadquartersOfficeBuildingsBuildings260&270,BartleyWoodBusinessPark,

Hook,RG279UP

•15,595SqFtto122,543SqFt(1,449–11,385SqM)

•658CarParkingSpaces(1:186sqft)

•ExcellentaccesstoJ5M3

Description

Auniqueopportunitytojoinworldclasscompanieswithinanestablishedbusinessenvironment.Thesetwohighqualityofficebuildingscanbeoccupiedseparatelyorcombinedviaaglazedwalkwaysatsecondfloorlevelsoastoformacampussetting.ThebuildingsarearrangedinaU-shapeconfigurationovergroundandtwoupperfloorstotaling122,543sqft.

Internally,thebuildingsprovideopenplan,flexibleaccommodationcapableofbeingdividedbothhorizontallyandvertically.Eachbuildingbenefitsfromstrikingdoubleheightreceptionareaandthefollowingspecification:

•Fullyaccessibleraisedfloors

•Suspendedceilings

•Air-conditioned

•Passengerlifts

•Restaurant/Café(270)

•Male,femaleanddisabledWCs

•Showerfacilities

Building270hasrecentlybeenupdatedwhichincludednewcarpets,decorationandimprovedlightingtoLG7standardtocreateanappealing,modernworkingenvironment.

Thepropertyhas658carparkingspaces,atbasementandsurfacelevel.Thisprovidesanexcellentratioof1:186sqftandisonlyashortwalktotherailstation.

Location

BartleyWoodBusinessParkissituatedduesouthofHooktowncentre,intheheartoftheBlackwaterValley.TheParkislessthan1milefromtheM3(J5)andwithin700metresofHookRailwayStation.ThetowncentreiswithinwalkingdistancefromtheParkprovidingaccesstoretailamenities.

BartleyWoodBusinessParkhascontinuedtoattractavarietyofmulti-nationaloccupiersincludingHewlett-Packard,Lenovo,Serco,BMWFinacialServices,VirginMediaandFirstDrinks.

Buildings260&270occupyaveryprominentpositiononthePark.

Communcations

TheM3providesaccesstoothersurroundtownsincludingBasingstoke,SouthamptonanduptoReadingviaA33.RailconnectionsareexcellentwithHookrailwaystationonthemainLondontoSouthamptonroute.FourtrainsperhouratpeaktimesprovidesadirectservicetoLondonWaterloowithafastestjourneytimeof51minutes.

HookisalsoconvenientlylocatedtotakeadvantageoftheproximityofseveralUKairportswithHeathrowInternationalAirport,theworld’sthirdbusiestairport,just28milestothenortheastandFarnboroughInternationalAirportonly11milesaway.

BusinessRates

ForbusinessratinginformationpleasecontactthebusinessdepartmentatHartDistrictCouncilon01252774444.

Terms

ThepropertywouldbeformallyavailablefromJanuary2020.Termsonapplication.

EPC

Certificateavailableonrequest.

ViewingandFurtherInformation

Forfurtherinformationortoarrangeaviewingpleasecontactus.

GuyParkes:gparkes@ra-re.co.uk01189450119AndrewBaillie:abaillie@ra-re.co.uk01189450120

Building260 Building270