Bracknell is a prime Thames Valley business location 15 miles west of Heathrow and strategically situated between the M4 and M3 motorways with the M4 (J10) only 4.5 miles to the west and the M3 (J3) only 5.5 miles to the south east. It is home to the UK HQs of companies such as BMW, Waitrose, Panasonic, Fujitsu, Dell, Hewlett-Packard, Siemens, Honeywell, Novell, Avnet, 3M and Cable & Wireless.
Western Road is located in the heart of Bracknell’s Western Industrial Area, one of the town’s main commercial areas. The area is within walking distance of the town centre and railway station. Homebase and Wickes both have large stores located on Western Road and the area is home to many trade counter occupiers.
Originally this 3.3 acre site was bought by a joint venture between Ravenbourne and Prudential Staff Pensions. Approximately 0.4 acres was sold to SSE for the expansion of its primary substation adjacent and the remaining 2.9 acres were ultimately developed by Kier Property, in conjunction with Ravenbourne, as its second Trade City development in Bracknell, the first being located nearby also in the Western Industrial Area.
The development provided a total of 58,828ft² (5,254m²) arranged over twelve units, six ‘shell’ industrial/warehouse units suitable for trade use along the Western Road frontage of the site and six further industrial/warehouse units, with ancillary mezzanine office accommodation, behind. When construction was completed in May 2016, the development had been almost 70% pre-let and had also been pre-sold sold to South Yorkshire Pensions Authority, a fund managed by Standard Life Investments, for a price reflecting a net initial yield of approximately 5.75% and a profit on cost to Kier Property and Ravenbourne of almost 50%.