Carrow Works, Norwich

CARROW WORKS NORWICH A unique opportunity to purchase this historic and exceptional freehold site with significant development potential close to the centre of Norwich

Cushman & Wakefield and Harvey & Co are delighted to invite offers for the freehold interest in this iconic site in Norwich with significant development potential.

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EXECUTIVE SUMMARY The site is jointly owned and occupied by Unilever UK Ltd and Britvic Soft Drinks Ltd, both of whom have confirmed plans to cease their manufacturing operations in 2019, therefore providing an incoming purchaser with the opportunity to undertake a comprehensive redevelopment, subject to planning.

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The site lies 0.9 miles (1.45 km) to the south-east of the city centre

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The site has excellent potential for a comprehensive redevelopment and

and extends to approximately 41.7 acres (16.9 hectares).

is capable of providing a significant number of residential dwellings in

addition to alternative employment uses.

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The site can be characterized into two distinct areas. The main part

of the site comprises the manufacturing area constructed over the past

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The site is well connected by road and rail, with nearby Norwich rail station

150 years, which is wrapped around the inner historic core area.

providing direct access to London Liverpool Street, Cambridge, Nottingham,

Peterborough, Sheffield, Manchester and Liverpool. There are dualled road

links to London, Cambridge and the Midlands.

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Offers are invited for the freehold interest in the Property on an unconditional

or subject to planning basis.

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The site adjoins the River Wensum, with prominent river frontage

along its northern edge.

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Vacant Possession of the site will be available in December 2019.

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Norwich is one of the fastest growing cities in the UK. It is surrounded by natural beauty, rich heritage and is only 15 miles from the Norfolk Coastline.

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ODEON IMAX

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NORWICH FOOTBALL CLUB

AD A147

CARROW WORKS NORWICH

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WHITLINGHAM COUNTRY PARK

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The Norwich Coastline is approximately 15 miles to the east, with the North Norfolk Coast Area of Outstanding Natural Beauty (AONB) approximately 30 miles to the north and the Suffolk Coast & Heaths AONB 35 miles to the south.

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The University of East Anglia is located approximately 2.8 miles (4.53 km) to the west of the site.

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A146

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The surrounding area comprises a mixture of residential, commercial and industrial uses. The Blue Marshes National Nature Reserve lies 8 miles to the north, whilst the Norfolk Broads National Park lies 10 miles to the east of the site.

The site lies immediately south of the River Wensum. It is enclosed to the east by the main-line railway from London to Norwich, to the west by the grounds of Carrow House (which currently forms part of the offices of Norfolk County Council) and to the south by the A417 / Bracondale. Whitlingham Country Park lies 0.6 miles (1 km) to the east.

The area to the immediate north of the site, on the northern bank of the River Wensum has already seen and continues to undergo significant redevelopment, with a large amount of residential development transforming what was historically an industrial area.

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The site lies approximately 0.9 miles (1.45km) to the south-east of the city centre.

A1242

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A11

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Norwich is located 58 miles (93 km) to the north-east of Cambridge and 100 miles (161 km) to the north-east of London.

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RIVERSIDE RETAIL PARK

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YARMOUTH ROAD

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CASTLE MALL

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LOCATION

NORWICH STATION

INTU CHAPELFIELD

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NORWICH THEATRE ROYAL

NORWICH CASTLE MUSEUM & ART GALLERY

ASDA SUPERSTORE

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A47

Carrow Works, Bracondale, Norwich NR1 2DD M1 Norwich Airport

KING’S LYNN LEICESTER

M6 toll

NORWICH

PETERBOROUGH

M69 M6

M42

A11

COVENTRY

GREAT YARMOUTH

A140

BURY ST EDMUNDS

NORTHAMPTON

CAMBRIDGE

M1 A1(M)

IPSWICH M11

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The area to the west of the site is predominantly residential, comprising a mix of low rise period residential properties and modern purpose-built apartment blocks fronting the river.

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The site sits at the eastern end of the Bracondale conservation area.

M40

COLCHESTER Stansted Airport

OXFORD

M4

CHELMSFORD

LONDON

READING

M3

M25

CANTERBURY

M25

M20

GUILDFORD M23

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Regular trains to London Liverpool Street every 30 minutes.

Excellent road network connectivity International flights from Norwich International Airport to c.30 cities worldwide

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TRANSPORT CONNECTIONS ROAD

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RAIL

The site lies adjacent to the Norwich outer ring road, making it accessible to local amenities and public transport.

The A11, A12, A47 and A140 link Norwich with Cambridge, Peterborough and London.

> Norwich railway station is located 0.5 miles

(0.8 km) to the north-west of the site, providing

direct services to London Liverpool Street every 30-minutes. >

> There are three bus stops in close proximity to the

site, located outside County Hall and on Martineau Lane. >

AIR

Services from Norwich Station have two operators, Greater Anglia and East Midlands.

0.9 mile

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Direct services are also provided to Cambridge, Peterborough, Nottingham, Sheffield, Manchester and Liverpool are also provided from Norwich.

Numerous bus services run from these stops, providing access to both Norwich City Centre and to other nearby urban areas.

Norwich Town Centre

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Norwich International Airport lies approximately 4.8 miles (7.2 km) to the north of the site.

Airlines including FlyBe and KLM serve Norwich, providing a variety of national and international flights, the latter via Schipol.

London Stansted Airport lies approximately 87.2 miles (140 km) to the south west of the site.

Approximate distances and times.

Source: google.co.uk/maps and nationalrail.co.uk

Cambridge

1 hour 11 mins

Amsterdam

55 mins 1 hour 5 mins

Norwich International Airport

4.8 miles

Peterborough

1 hour 28 mins

Manchester

Cambridge

58 miles

London Liverpool Street

1 hour 49 mins

Edinburgh

1 hour 25 mins

M11 (J9a)

67.5 miles

Sheffield

3 hours 24 mins

Frankfurt (from Stansted)

1 hour 35 mins

Stansted Airport

87.2 miles

Manchester

4 hours 25 mins

Prague (from Stansted)

1 hour 55 mins

Liverpool

4 hours 39 mins

Milan

M25 (J27)

97 miles

3 hours 30 mins

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MARKET ANALYTICS Norwich is the largest settlement in east Anglia and from the middle ages to the industrial revolution was the largest city in England after London.

Norwich is an attractive location in which to live and work and is the most complete medieval city in the UK. Top and bottom five cities by annual GVA growth, Q1 2018

Norwich has achieved the following accolades: >

In May 2012, it was designated England’s first UNESCO City of Literature.

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In 2013, it was voted one of the best small cities in the world by the Times Good University Guide.

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In 2016, it was voted by the Guardian as the happiest city in which to work in the UK.

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The city regularly features in surveys identifying the top 10 retail destinations in the UK.

Cambridge

2.6%

Ipswich

2.5%

Reading

2.4%

Milton Keynes

2.4%

Norwich

2.4%

Cardiff

1.4%

Liverpool

1.4%

Middlesborough

1.3%

Swansea

1.1%

Belfast

1.0% 0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

Source: Office for National Statistics, Cebr analysis

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Norwich was recently named the fifth fastest growing city in the UK, performing strongly on a range of economic indicators including productivity and jobs growth.

Economic activity and employment rates are very high and the city has higher rates for both indicators than national averages with a rate of 85% and 81% respectively.

The Norwich Policy area represents an economy of significant scale and influence.

Norwich has a high-quality skills base and an ability to attract talent nationally and internationally. It also has a high business density and strong 5-year business survival rates compared to similar high-growth cities.

Employment and Business growth over the past 6 years has been concentrated in Knowledge Intensive Sectors.

In the five years from 2011, the city’s population grew by around 8,500 people.

Norwich and its immediate surrounds now has a population of approximately 300,000. The population of Norwich as a whole is younger than the national average with 21.2% falling within the 30 – 44 age bracket.

The city benefits from having two universities, the University of East Anglia and Norwich University of the Arts, with a large number of students coming to study in Norwich from abroad.

Norwich’s GVA growth (YoY) was 2.4% in Q1 2018, the fifth fastest out of UK cities. In addition to the tech and life science industries, which are supporting growth across East Anglia, the city is a UK leader in the finance and insurance services market outside London with Aviva, Marsh, Virgin Money, Royal Bank of Scotland and Swiss Re being strongly represented in the city.

Norwich has a very active tech community and is ranked as one of the UK’s top Tech Cities, with both universities playing important roles in driving this forward.

The digital accelerator Tech Velocity aims to double the size of the Digital Economy in Norwich by 2020. The accelerator scheme helps businesses through mentoring, introductions to investors and by channeling them towards public funding.

Norwich Research Park is a world-renowned cluster focusing primarily on food, plant and health sciences located to the south-west of Norwich close to the A11 and A47. Set in over 230 hectares of parkland, it is home to over 12,000 employees, including 3,000 researchers and clinicians.

The universities of East Anglia, Essex and Kent have been awarded £4.7 million of UK Government Industrial Strategy funding. The aim is to support business innovation across the East of England’s artificial intelligence, digital creative and agri-tech sectors.

The average house price across Norfolk in February 2018 stood at £222,610 with the average home owner in the county seeing their property increase in value by c.£63,000 over the past five years.

NORWICH 9

Odeon IMAX Cinema

Norwich Station

Riverside Retail Park

Carrow Road Norwich City FC

CARROW WORKS NORWICH

River Wensum

Norwich City Centre

41.7 10

Gas Pressure Reduction Station

acres

Whitlingham Country Park

SITE DESCRIPTION >

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The principal site extends to approximately 41.7 acres (16.9 hectares) together with a further separate area of 408 sq m on which a gas pressure reduction station is located.

The site has for many years been used for the manufacturing of food (under the Colmans brand) and soft drinks (under the Robinsons brand).

The majority (31.02 acres – 12.55 hectares) of the site provides a variety of manufacturing and industrial buildings of various ages constructed over the past 150 years, some of which are very bespoke to food and drinks manufacturing and large distribution warehouses. Two Grade II listed buildings can be found within the main manufacturing site, the Former Counting House and Blocks 7, 7A, 8, 8A known as the F-Building.

Carrow Abbey (Grade I Listed)

The historic core area (10.66 acres – 4.31 hectares) falls within the Bracondale Conservation Area and comprises the exposed ruins of a 12th Century Priory, Grade I listed Carrow Abbey, three locally listed buildings (The Lodge, Garage and Stable Cottages) and green open space and mature tree coverage.

The site’s main access joins the Bracondale (A147) / Martineau Lane (A1054) Roundabout on the south-west boundary.

The majority of the site falls within Flood Zone 1, which is suitable for all forms of development, however a small area falls within Flood Zone 3.

The historic inner core area comprises a number of specimen trees. Whilst these are not subject to a Tree Preservation Order, they have protection by virtue of the Conservation Area designation.

Further information on the existing buildings and open spaces across the site can be found within the data room.

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Block 7, 7A, 8 & 8A (Grade II Listed)

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Carrow Abbey (Grade I Listed)

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Stable Cottage (Locally Listed)

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PLANNING OVERVIEW The urban area of Norwich has outgrown the administrative boundaries of the City Council and as a consequence a joint local plan has been prepared for the ‘greater Norwich area’ by Norwich City Council, Broadland District Council and South Norfolk District Council, in order to ensure the strategic growth requirements of the city can be properly addressed. The site lies within Norwich City Council’s administrative area.

The Greater Norwich Local Plan (GNLP) will build on the long-established joint working arrangements for Greater Norwich, which have delivered the current Joint Core Strategy (JCS) for the area. The JCS plans for the housing and jobs needs of the area to 2026 and the GNLP will ensure that these needs continue to be met to 2036. At present, the GNLP is scheduled to be adopted in September 2021.

The site lies within a designated employment area and area of open space. The surrounding areas are allocated for residential use.

Affordable housing policy for Norwich is 33%. However, the recently updated Strategic Housing Market Assessment suggests this policy for the Greater Norwich Policy Area could reduce to 26.5%.

A statement on the planning issues can be found within the data room.

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Block 92 (Grade II Listed)

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TITLE Certain rights of way in favour of third parties affect the property. These are not considered to be onerous.

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42 216

RIVER

102 219

TROWSE SWING BRIDGE

WENS

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WASTE RECYCLIN & G

TAXI & LOADING

VISITOR

A summary report on title can be found within the data room in addition to further documentation.

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ASSEMBL Y NO PARKING

NO PARKING

FIRE

TUNNEL

ACM

CK600HFE

Ramp

ORW

HSM

IBCs

Ramp

IBCs

KING ST

ET2

IBCs

Ramp

BRC

WASTE

YARD

REET POND 1B

BRACONDALE GROVE

Remains of St Mary’s Priory

Carrow Abbey KING STREET

Gas Pressure Reduction Station CAR PARK

The Bungalow Hospital (Remains of)

CAR PARK

CAR PARK

RP

AR

CAR PARK

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CAR PARK

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Stable Cottage BR

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ON

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Cycle Par

VISITORS

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Lorry Park

CAR PARK

Not to scale, and for indicative purposes only, this outlined plan shows the approximate extent of the freehold ownership.

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FURTHER INFORMATION TENURE Freehold.

VAT The Property is elected for VAT purposes.

VIEWINGS Viewing days have been arranged for Sunday 28th October, Sunday 4th November and Sunday 11th November.

If any parties wish to undertake additional viewings, after the initial viewing days, this must be arranged with the sales agents only.

No unsolicited visits to the site will be permitted.

METHOD OF SALE The Freehold interest is offered for sale by way of informal tender.

Developers are asked to explicitly state their assumptions made in producing the offer, providing full details of financial aspects including timing of payments, details of any conditions and proof of funding for the transaction.

Further information on bidding instructions can be found within the data room.

Bids should be submitted electronically to the retained agents by no later than 12 noon on Friday 7th December 2018.

Offers are invited exclusive of VAT. 18

FURTHER INFORMATION

CONTACTS

Further information on the Property can be found within the dedicated data room.

For further information please contact the joint selling agents below:

www.carrowworks.co.uk

Cushman & Wakefield

Harvey & Co

Daniel McDonagh Tel: 020 3296 4674 Email: daniel.mcdonagh@cushwake.com

David Harvey Tel: 01603 677162 Email: david@harveyandco.com

George Jolliffe Tel: 020 3296 2734 Email: george.jolliffe@cushwake.com

HARVEY&CO

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Misrepresentation Act 1967: (i) Although maximum care has been taken to ensure the accuracy of the information contained within this report, such information is subject to change and confirmation. (ii) No liability will be accepted by Cushman & Wakefield LLP or Harvey & Co for any loss arising from information contained within this report as it may have been provided by a third party source and will require verification. (iii) This report provides a general outline only for the guidance of prospective purchasers and does not constitute the whole or any part of an offer or contract. (iv) No employee of C&W LLP or Harvey & Co has the authority to make or give any representation or warranty or enter into any contract whatever in the relation to the property. (v) Rents and prices stated within this report may be subject to VAT. Designed and produced by The Looking Glass Design www.tlgd.co.uk. October 2018.