Clearbell sells One Thames Valley, Bracknell, to Seven Capital for £12.8 million
Clearbell Property Partners II LP (Clearbell), a fund managed by Clearbell Capital LLP, announces the sale of One Thames Valley, Bracknell, to SevenCapital for £12.8 million.
One Thames Valley, a 75,293 sq ft property on the western side of Bracknell, was acquired in February 2015. The asset sits in a prominent location near the recently regenerated town centre and is well-connected, close to the M4 motorway and within easy reach of central London.
Clearbell sought and received Permitted Development Rights for the conversion of the building to 130 units, sold to Seven Capital, who are due to convert the building to residential use. The comprehensive regeneration programme underway in Bracknell helps position One Thames Valley attractively for residential development, in a supply-constrained housing market.
Duncan Jarvis, Director at Clearbell, said: “We are pleased to have received PD consent for 130 apartments at One Thames Valley, by amending our strategy and focusing on a residential exit. We moved quickly to secure both SANG Land and PD consent in light of the Article 4 directive.
SevenCapital is a leading UK property developer, developing residential, commercial and off-plan property across the UK.
Clearbell was advised by Montague Evans.
Seven Capital was advised by Colliers