Property:
UNDER OFFER - Prominent development site

Address:
Description:

The site is located adjacent to the Wolverhampton Science Park, which was formed in 1993 as a partnership between the University of Wolverhampton and Wolverhampton City Council.

It has gone on to foster the development of new, high technology companies which have helped diversify the local sub regional economy. The science park provides a high quality backdrop for this prominent site along a major route into the City Centre.

The Science Park comprises the Technology Centre, Research and Development building and a new Creative Industry Centre, completed in 2003. In total the first three phases provide some 9.300 sp. Metres of floor space.

The Stratosphere Site is situated in a highly prominent position within Wolverhampton Science Park and overlooks the Birmingham Canal 21 Locks Conservation Area. Any development must relate positively to the canal environment.

Informal Tenders are invited from interested parties to purchase a long leasehold interest in this commercial development opportunity.

To download a for a full set of particulars please click here.

Location
The Site is located with close proximity to the Stafford Road (A449). Wolverhampton City Centre is approximately 1.6Km South and Junction 2 of the M54 is some 3.2Km North. Wolverhampton Mainline Station is within 2.4 Km providing regular services to London and other major cities.

Tenure
The site as defined by the red boundary on the aerial photograph is available on the basis of a long leasehold interest for a term of 999 years, subject to a building agreement. It is intended to structure the long-lease on the basis that an upfront premium is made in return for a peppercorn rent without a rent review provision.

Planning
The site is subject to Planning Guidance prepared by the City Council. A copy of the Planning Guidelines is attached with these particulars. Any development proposals for this site must ensure that the objectives of the Science Park as defined in the Planning Guidelines are full met.

The following information and documentation is available for inspection by prior appointment at the Birmingham Offices of either Bruton Knowles or Pinsent Masons:

• Draft Agreement For Lease
• Draft Heads of terms
• Stafford Road Development Sites – Phase 2 Reclamation Completion Report
• Stafford Road Development Sites – Post Completion, Gas and Ground Water Monitoring Report.Severn Trent land sterilisation strip and easements.

Method of Disposal
The Site will be disposed of by way of a single stage informal tender process. Interested parties are invited to submit written proposals to Bruton Knowles Birmingham office to be received no later than 12 midday on Monday 27th February 2006 and should include:

• Company or individual background, indication as to the method of finance plus evidence as to the availability of finance.
• Confirmation of Compliance with Draft Heads of Terms. (Subject to financial offer)
• The bid is to be accompanied by a full financial appraisal with details of conditions/pre-conditions along with supporting information on rents, yields, construction costs, fees, finance charges, developers profit and any other relevant details.
• Details of proposed uses including indicative drawings showing the site layout and footprint.
• Details of an indicative construction programme
• A detailed working knowledge of the Planning Guidelines must be demonstrated.
• Details of similar projects undertaken by the bidder.
• Details of professional team work to work on the project.

An explanation of the bidders approach to building design with an indication of how the scheme will compliment the adjacent Wolverhampton Science Park.

Our Clients reserve the right not to accept the highest or indeed any bid.

Type: Development

Development commercial:

• Commercial

Development Residential:

• Residential

Property type: Development
Status: Under offer
Acreage: 1 acres
Hectares: 0.4 hectares