May 26, 2022
Following the granting of planning permission for 50 new homes and a 68-bed care home earlier this year, Fiera Real Estate UK and Operating Partner, Danescroft, are pleased to announce the sale of their 4.8-acre site in Bracknell, Berkshire.
Contracts have now completed with Howarth Homes PLC and Aster Homes Limited for the portion of the site allocated for 50 high-quality homes, consisting of a mix of much-needed 1-, 2- and 3-bedroom apartments, and 2-, 3- and 4-bedroom houses.
On the western part of the site, the care home plot has been sold to Barchester Healthcare to develop a 68-bed care facility, benefitting from its own self-contained amenity space and car parking for residents, staff and visitors.
The site is located 1.5 miles west of Bracknell town centre and benefits from excellent transport links. Access to the motorway system is provided by the nearby A329, 10-minutes from J10 of the M4. Bracknell train station is less than 2 miles away with services available to Reading and London Waterloo in 20 minutes and 1 hour, respectively.
Chris Button, Head of Value Add REIM at Fiera Real Estate UK, commented: “Alongside our Operating Partner, Danescroft, we have worked tirelessly to bring forward this exciting new scheme, which has been designed to help meet the local Council’s housing needs. The sale represents another successful deal for our latest value add fund, which reached its final close earlier this year with £180m of equity. Fiera Real Estate UK has considerable funds available for similar projects around the UK.”
James Trelfa, Director of Danescroft, commented: ‘We are delighted to have completed the sale of this sought-after asset and to successfully exit our interest in Bracknell. We remain active in the market and are actively seeking new opportunities across all areas of the business, with significant funds available to deploy”.