blulivingbracknell

I N V E S T M E N T M E M O R A N D U M

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Computer generated imageThe image represents the full development potential subject to planning permission for the units on the roof.

Introducing BluLiving, BracknellThis stylish residential development presents an exceptional opportunity to invest in a rapidly improving region.

blulivingLocation &

amenities

Smart

Communities

Designed

for life

Investment

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Executive SummaryBluLiving Bracknell offers stylish town centre living in a regenerated Bracknell, the new hub of the South East.

The DevelopmentErgonomically designed studio to three bedroom apartments will embrace the best of modern living in harmony with sleek interior design and high quality finishing.

BluLiving Bracknell will contain 121 apartments arranged across three buildings. Community space and the level of interior design will make BluLiving Bracknell stand apart from other developments in the region. A dedicated social and community app for residents will double as a remote control for the exciting smart technology being implemented in the apartments.

The prices at BluLiving Bracknell are excellent value for money considering their high specification and access to exciting amenities. Investors will benefit from affluent tenants and strong rental income while also having the prospect of capital appreciation.

Why Bracknell?Bracknell is transforming. Huge investment into the town is set to increase its catchment to 1 million by 2024. New facilities including the £240m Lexicon shopping centre and overall infrastructural development is making Bracknell more desirable as a place for people to live

and work thereby increasing house prices. The population is expected to increase by 15% during the next 20 years pushing up demand for property and generating an increased pool of tenants (for apartment units in particular).

House prices in Bracknell have been steadily increasing over past years and yet remain substantially lower than neighbouring towns such as Reading, Windsor, Sunningdale, Wokingham and Ascot. This provides an excellent growth opportunity and also makes the properties affordable to a larger market compared to properties in the neighbouring towns.

Growing demand for properties in the area and a limit to supply as a result of planning restrictions are also supporting house price growth and rental demand.

What is BluLiving?BluLiving is not just a brand it is a concept. Each BluLiving development is governed by four guiding principles (see opposite).

BluLiving will also embrace technology with its ambition to build a brand with a dedicated social and community app for residents at each development.

At A Glancen Regeneration of Bracknell driving increased property demandn Increasing population will create demand for property and rentalsn Limited supply of land for development and planning restrictions supports house price

increasesn One of the last projects granted rights to change use from office to residential in

Bracknelln Strong rental demand for apartment propertiesn BluLiving lifestyle brand will underpin project valuen Prices significantly lower than comparable properties in nearby townsn Bracknell’s catchment has increased from 250,000 to over 750,000 in the past year alone

Indicative lifestyle photography

The Developmentn Studio to three-bedroom apartmentsn High quality interior designed specificationn On-site porter & conciergen Secure gated community with CCTVn Landscaped groundsn Outdoor community garden containing gym,

barbecue area and table tennis hubn Residents’ social and concierge app

Investment Profile & Returnsn A fully managed armchair investmentn Steady returnsn Mortgage typically funded through rental incomen Strong capital growth opportunityn Growing locationn Undervalued compared to surrounding towns

Deal Summary

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The properties at BluLiving offer an interesting and unique opportunity for discerning investors.

studio to three bedroom

apartmentsComputer generated imageThe image represents the full development potential subject to planning permission for the units on the roof.

Computer generated image of barbeque area Computer generated image of outdoor gym area

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Walking Distance Driving / Public Transport Bracknell Train Station 15 mins 4 mins / 5 mins

Lexicon Centre 15 mins 3 mins / 3 mins

Supermarket 18 mins 5 mins / 5 mins

Petrol Station (BP) 5 mins 1 mins

Cinema 13 mins 2 mins / 7 mins

Golf Course - 12 mins

Parks 14 mins 2 mins

Gym 7 mins 2 mins

Walking Distance Driving / Public Transport Theatre (South Hill Park) - 7 mins

Hospital (Frimley Park) - 25 mins

Airport (Heathrow) - 30 mins

Ascot Racecourse - 10 mins

Coral Reef Waterworld - 9 mins

Primary Schools 10 mins 3 mins

Secondary Schools 20 mins 3 mins

Motorways (M4) - 10 mins

Nearby Amenities

Location Bracknell

BluLiving Bracknell is centrally located in Bracknell town centre with both the new Lexicon Centre and the area’s largest employers such as Waitrose, 3M and Hewlett Packard within walking distance.

Bracknell Train Station is also accessible on foot and has direct trains to London, Reading, Wokingham, Ascot, Staines and Richmond amongst others. Access to London from BluLiving Bracknell is excellent by both road and public transport.

Bracknell offers access to London Waterloo in a little under one hour, just 5-10 minutes longer than Crossrail from Reading when it opens. With substantially lower house prices in Bracknell, you have to ask if it’s worth paying the extra £200 per sq.ft (equivalent to circa £66,000 for one of the smaller properties at BluLiving) to live in Reading

in order to shave just 10 minutes off a London commute. In any event, most BluLiving Bracknell residents are likely to work in one of the many businesses nearby.

Situated on Wokingham Road, the development is well located to provide access to both the M3 and the M4 which can be reached in under 10 minutes. There are a number of excellent schools in Bracknell and additionally, the top prestigious schools of Eton, Wellington College, Bearwood College and St Georges Girls School in Ascot are all within 30 minutes’ drive.

Bracknell sits at the epicentre of some of the most desirable towns and villages of Surrey and Berkshire with Ascot, Windsor, Sunningdale, Virginia Water, Reading and Wokingham all within 10 miles.

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BluLiving Bracknell is excellently located to benefit from Bracknell’s facilities and connections.

Bracknell & Wokingham College Heathrow Airport Bracknell Train Station

Source: Google maps

Over the past five years a brand new town centre, the Lexicon, has emerged. The £240 million, state-of-the-art shopping centre and leisure facility has been developed by the Bracknell Regeneration Partnership which is 50% funded by Legal and General.

The Lexicon is home to luxury brands including Fenwick, Hotel Chocolat, Pandora, Joules, Waitrose, Charles Tyrwitt, Carluccios and Superdry. Its development and further regeneration of the Bracknell Forest region will increase Bracknell’s catchment to 1 million people by 2024.

Further infrastructural and regeneration activities are also being undertaken across the borough with an investment of £768 million. It is one of the largest urban regeneration schemes currently being built in the UK.

Bracknell is also known as the Silicon Valley of the UK. It is home to tech giants including Vodafone, Hewlett Packard, Fujitsu, Dell, Epicor, Hitachi Data Systems, Panasonic, Honeywell, GE and Cisco Systems.

Considering its excellent transport links, there are also a number of other large UK and multinational corporates who have chosen Bracknell as the home for their headquarters or key offices including 3M, Waitrose, Avis, Vodafone, Syngenta, Honda UK, Nielsen and HiFX.

These large businesses have drawn people tothe town in search of employment for many years,but with the increased desirability of the newlyregenerated Bracknell those people working here are increasingly likely to elect to live here too.

The increasing appeal of Bracknell as a destination is the primary driver behind the projections for huge population growth in the district. The population of

Bracknell is expected to increase by 15% during the next 20 years and will provide strong demand for property in the region.

Bracknell At A Glancen £240 million new town centre development:

The Lexiconn £768 million of infrastructure and regeneration

investmentn UK’s Silicon Valley n Bracknell’s population to increase by 15%

during next 20 yearsn Bracknell’s catchment to increase to 1 million

people by 2024n Planning restrictions on change of use from

office to residentialn Limited council SANG allocations will minimise

new homes approvalsn Desirable neighbouring towns: Ascot, Reading,

Wokingham and Windsorn Near major motorway junctions and train station

with good linksn Affluent area with income and expenditure

exceeding the UK average

Bracknell: The New Hub of the South EastBracknell is being transformed. Existing and continued regeneration in Bracknell has created an appealing town in which to live or work.

The new retail and leisure destination will create a vibrant heart to the already thriving

town and provide a town centre that local residents can be proud of and a new

destination for people living in the wider area Simon Russian, Legal & General Development Manager

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The Lexicon, Bracknell

The housing market in Bracknell Forest has showed a steady growth during the past 5 years (Dec 2012 – Nov 2017) with prices for apartments and maisonettes having increased in excess of 50% during that period. This steady and continued growth had all occurred before the opening of the Lexicon in late 2017. Common sense would suggest that the new facilities and infrastructure will likely support significantly higher price growth over the coming years. (See Fig. 2)

There is a supply shortage of housing to meet the growing demand for property in Bracknell and its surrounds. The shortage of property combined with the increasing desirability is causing a steady climbing of property capital values. (See Fig. 1)

Compared to surrounding regions, the house prices in Bracknell are substantially lower providing excellent growth prospects.

The significant investment into Bracknell has not only made it more appealing to people as a place to live, but it is also serving to attract new businesses to the town.

Future Development SupplyLimited supply of new homes is typically a driver of capital growth. A Section 4 change of use restriction in combination with SANG limitations may limit further town centre development for residential projects not already granted planning permission in Bracknell.

With the diminishing office and industrial floor space, Bracknell Forest Council has issued an Article 4 restriction preventing future change of use from office commercial to residential for the immediate future in the Western, Southern and Eastern business districts that surround the Lexicon.

This will serve to increase demand for the already limited housing stock that is within walking distance of Bracknell’s key amenities.

Bracknell Forest Council is also running short of council allocated Suitable Alternative Natural Greenspace (SANG). This space is required to be created for increased housing supply to reduce pressure on Special Protection Areas. As the council allotted SANG space is in short supply this will severely restrict further small to mid-scale future development planning approvals with priority likely being allocated to affordable projects.

Market Snaphotn 50% house price growth during last 5 yearsn Limits to future development supply as a result

of Article 4 and SANG limitationsn House prices lower than comparable properties

in surrounding townsn Regeneration of Bracknell supporting increasing

demand

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Figure 2: 5 Year Growth in Average Apartment Price in Bracknell (Dec 2012 - Nov 2017)

Bracknell’s housing market has performed well over the past years but still offers room for growth due to Bracknell’s increasing desirability and a future shortage of housing stock.

Figure 1: Price Comparison: 2 Bedroom ApartmentsTown Distance Equivalent Prices BluLiving, Bracknell 0 miles £283,000 Reading 3.5 miles £320,000 Ascot 5 miles £390,000 Sunningdale 7.5 miles £350,000 Slough 8 miles £325,000 Virginia Water 9 miles £485,000 Windsor 10 miles £325,000 London (Hammersmith) 37 miles £761,000

blulivingbracknellSuperdry, The Lexicon Hewlett Packard 3M UK

Dell Office Waitrose

Peel Center The Lexicon

VodafoneHonda

BluLiving Bracknell apartments are located just walking distance or a short bus ride from Bracknell’s brand-new town centre, anchored by The Lexicon, which is home to luxury brands, exciting restaurants and open courtyards.

BluLiving Bracknell is a development of 121 one to three-bedroom apartments designed to create an exciting and vibrant residential community with ergonomically designed outdoor areas with gym and barbeque, a private on-site porter / concierge. The apartments are divided across three buildings in a horseshoe arrangement. The development will also embrace smart technology within the design and also in the provision of a dedicated BluLiving app designed to facilitate a true community amongst residents and owners.

The properties themselves have been designed to the highest specifications and the interior design combines sleek and modern design with tactile materials while ensuring each feature has ergonomic benefit.

A planning submission is currently under development for a further 29 properties after successful pre-application feedback was received.

At A Glancen Located in Bracknell town centren Professionally designed interiorsn 121 one to three-bedroom apartmentsn Dedicated on-site concierge / portern BluLiving residents social and concierge appn Allocated parkingn Outdoor community garden containing gym,

barbecue area and table tennisn Walking distance from The Lexicon and

Bracknell train stationn Bracknell’s largest employers within walking

distancen Home automation systemn Launching in Spring 2018

The Development: BluLiving Bracknell

Development Plan blulivingbracknell

BluLiving Bracknell is changing the face of Bracknell to create a new residential community which will bring neighbours together as friends.

blulivingBLOCK 1

blulivingBLOCK 2

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The image represents the full development potential subject to planning permission for the units on the roof.

Indicative Floorplans

Apartment 12041.6 sq.m - 447.7 sq.ftOne Bedroom Apartment

Living / Kitchen 7.10m x 3.10m 23’3” x 10’2”

Bedroom 4.90m x 2.70m 16’1” x 8’10”

Bathroom 2.10m x 1.60m 6’11” x 5’3”

Apartment 31643.8 sq.m - 471.4 sq.ftOne Bedroom Apartment

Living / Dining 6.40m x 3.20m 21’0” x 10’6”

Kitchen 2.70m x 2.00m 8’10” x 6’7”

Bedroom 1 4.20m x 2.70m 13’9” x 8’10”

Bathroom 2.10m x 1.60m 6’11” x 5’2”

Apartment 22575.7 sq.m - 814.8 sq.ftTwo Bedroom Apartment

Living / Kitchen 6.40m x 4.00m 21’0” x 13’1”

Bedroom 1 4.60m x 3.00m 15’1” x 9’10”

Bedroom 2 3.20m x 2.70m 10’6” x 8’10”

Ensuite (with shower) 2.10m x 1.50m 6’11” x 4’11”

Bathroom 2.10m x 1.90m 6’11” x 6’3”

Apartment 12865.5 sq.m - 705.0 sq.ftTwo Bedroom Apartment

Living / Kitchen 7.20m x 3.30m 23’7” x 10’10”

Bedroom 1 5.20m x 3.00m 17’1” x 9’10”

Ensuite (with shower) 2.10m x 1.50m 6’11” x 4’11”

Bedroom 2 4.00m x 2.60m 13’1” x 8’6”

Bathroom 2.10m x 1.90m 6’11” x 6’3”

Apartment 32131.0 sq.m - 333.6 sq.ftStudio ApartmentLiving / Bedroom 5.00m x 4.30m 16’5” x 14’1”

Hall 2.10m x 1.70m 6’10” x 5’7”

Bathroom 2.10m x 1.60m 6’10” x 5’3”

These plans show typical studio, one and two bed layouts which are repeated throughout the three buildings. As there are only limited three bedroom units, these are not shown.

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Specification

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High quality specification with sleek and modern design will feature in the apartments at BluLiving Bracknell.

Generaln Tall internal and entry 44mm fire

rated doorsn High ceilings living and bedroom n Suspended feature ceiling to kitchen,

bathroom and hallway with LED mood lighting and spot lights

n Fitted cupboard to hallway with utility controls, storage space, water tank and SMEG washer/dryer

n High quality oak engineered wood flooring throughout (except bedroom)

n Luxury carpet to bedroomn Built in closets to master bedroomn All windows are openable for natural

ventilation

Lighting and electricsn Home automation control systemn Video door entry systemn Dimmable white designer light switches n Suspended ceilings have recessed LED

spotlightsn Featured under pelmet LED lighting

strip to kitchen suspended ceilingn Designer wall lights to living room and

bedroom n Sockets in crisp white with standard and

USB ports to living and bedroomn TV point to living and bedroomn Data points to living and bedroom areas

Kitchen & appliancesn Fully fitted Italian designer kitchens with

integrated LED cupboard lighting; under counter sink and stainless-steel tapware

n Quartz stone worktop with full height splashback

n Dual tone lacquered handle-less soft close kitchen units and drawers

n Magic corner storage, pan drawer and cutlery drawer

n Fitted SMEG appliances - Tall integrated fridge/freezer - Integrated dishwasher - Induction hob - Integrated microwave with grill - Built-in oven - Integrated telescopic hidden extractor

Bathroomn Fully tiled bathroom floors and wallsn Walk-in shower rooms with rain shower

and hand-held shower (some units)n Duravit sanitary ware n Floor standing white WC with

concealed cisternn Grohe chrome flush plate to toiletsn Modern branded taps and shower fittingsn Underfloor heatingn Electric heated towel railsn Mirrored storage n Shaver socket

All images on opposite page are computer generated

Disclaimer: Specification details are for general guidance only and the developer reserves the right to subsititute any material or item for an alternative of equal or superior quality. For a more detailed specification of your chosen property, please ask the Sales Advisor. This is a guide and may be subject to change.

Conservative Estimated Rental Rates The properties at BluLiving Bracknell will command a sensible rental price. Conservative estimates by Romans Estate Agent are as follows:

Rental MarketBracknell has become a more desirable town in which to live owing to the regeneration both undertaken and planned. This increased desirability is reflected in both rental demand and rates. With the population expected to increase by 15% (almost 19,000 additional people) during the next 20 years this will add further demand for rental properties.

There is a shortage of rental supply in Bracknell, in particular for apartments, which will benefit buy-to-let owners at BluLiving Bracknell. An increased supply of new homes will help to meet the increased demand yet will not saturate the market. Typically, local estate agents have approximately 200 prospective tenants on their books at any given time which is not even close to meeting the supply of properties in the area.

There are also opportunities for corporate lets from one of the many small and large businesses that have made Bracknell their home.

Rental Rates and GrowthIn the south east region as a whole, rentals are typically two index points ahead of those of the entire UK. Rental rates in the south east have grown by 17.6 index points during the last 7 years (to Jan 2018). (See Fig 1).

The increasing appeal and regeneration of Bracknell is likely to mean that rental rates should increase at a faster rate than the wider south east.

Currently rental rates for different apartment types vary quite substantially (See Fig 2.)

Owing to its high quality specification and direct vicinity to Bracknell’s new centre, BluLiving rental rates will be at the top of, or in excess of, this range. There will still be plenty of room for increases over the coming years owing to natural price inflation and as the desirability of the town further increases.

Rental OpportunityThe apartments at BluLiving Bracknell offer an exceptional opportunity for buy-to-let investors.

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Property Type Monthly Rent Annual Rent Studio £850.00 £10,200.00

One Bedroom Apartment £900.00 £10,800.00

Two Bedroom Apartment £1,200.00 £14,400.00

Three Bedroom Apartment £1,550.00 £18,600.00

Indicative lifestyle photography

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Figure 1: Index of Private Rental Prices - South East

Property Type From To Current Supply (March 2018) Studio apartment £675.00 £675.00 3

One bedroom apartment £700.00 £979.00 26

Two bedroom apartment £875.00 £1,300.00 28

Three bedroom apartment None currently on market 0

Figure 2: Current Rental Price Range per month In Bracknell (as at March 2018)

Source: Rightmove (accessed 01.03.2018)

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This project is under development and shall complete in Q1 2019. This is an indicative illustration for the purchase of a studio apartment with a mortgage as set out herein, noting that mortgage products available may vary and are subject to status.

Purchase Illustration

DETAILS

Purchase Price (GBP) £185,400 Investment Period (Years) 5 Time to Completion 1

INVESTOR OUTLAY - EQUITY INVESTMENT & COSTS Deposit Payment / Unmortgaged Amount £74,160 Purchase Costs (Stamp Duty, Legal Fees & Mortgage Arrangement Costs) £7,240 Total Capital Outlay £81,400

MORTGAGE (from Completion)** LTV 60% Mortgage Interest Rate 3.70% Mortgage Term (years) 30 Borrowed Amount £111,240 Interest Due Over 5 Year Investment Period £19,599 Principal Due Over 5 Year Investment Period £11,122 Gross Mortgage Due Over Investment Period £30,721 Monthly Payments of £512

RENTAL PROFILE (from Completion) Gross Monthly Income £850 Gross Annual Income (assuming no vacancy) £10,200 Gross Return (based on Total Capital Outlay assuming no vacancy) 13% Total Gross Income over Operable Period £40,800

ALTERNATE PROFIT FORECAST: Capital Growth Rate (Based on historic housing performance)* 3% Sales Value after 5 year Investment Period £221,377 Debt (borrowed amount - principal repaid) £100,118 Equity in Property after 5 year Investment Period £121,259 Surplus Rental Income £10,079 TOTAL CAPITAL BACK AFTER INVESTMENT PERIOD £131,338 Profit £49,938 Return on Capital (%) 61% Compound Annual Growth Rate 22%

* Growth rates are based on historic performance in Bracknell during 2007 - 2017 according to Land Registry Data ** Mortgages are subject to status and varying terms will apply subject to the individuals position

This purchase sample is indicative only and is not intended to act as financial or investment advice and purchasers must satisfy themselves as to the suitability of any investment to their own personal circumstances. It cannot be guaranteed that rates and offers used to calculate this model would be available to individual purchasers.

This illustration is a medium-term hold with a buy-to-let mortgage based purchase with 60% LTV and including a rental management solution and income.

Computer Generated Image

Exit StrategyBracknell is an increasingly popular location for first and second home purchasers with the regeneration of the Bracknell Forest Region as a whole expected to generate increased demand over the coming years.

1 December 2017: Average Time On Market by Type in Bracknell (days) SOURCE: Time on Market Report for Bracknell, http://www.home.co.uk/guides/time_on_market_report.htm?location=bracknell&lastyear=1 Accessed 17.01.17

2 https://www.bracknell-forest.gov.uk/sites/default/files/documents/salp-adopted.pdf

BluLiving Bracknell is strongly positioned for the first-time buyer market. In Bracknell first time buyers invested an average of £287,364 in a property, positioning the BluLiving apartments nicely around this bracket and creating affordable options for the existing demographic. This also gives some room for the prices to increase at BluLiving and still be within reach of the average local first-time buyer.

AbsorptionProperties are on the market for an average of 116 days in Bracknell1. One, three and four bedroom properties sell most quickly in under 105 days followed by two-bedroom properties in 129 days while properties with more than five-bedrooms take over 175 days to sell.

This clearly indicates a demand for smaller properties. During the last one-year period for which data is available (September 2016 – September 2017) 1,819 properties were sold, an average of 152 properties per month.

On average, there are approximately 850 properties on the market at any given time in Bracknell with typically 25% of these properties being apartments. BluLiving Bracknell will add to the inventory taking the total volume of properties on the market to circa 970 units.

The population of Bracknell is expected to grow by 15% during the next 5 years and to meet the growing demand for housing as a result of this, Bracknell Forest council’s Core Strategy aims to build at least 11,139 homes by 2026.2

What is the exit strategy?n Housing shortage based on population

growth estimatesn Strong absorption rates with ability to

absorb additional stockn Prices within reach for first and second

time buyer marketsn Appealing to buy-to-let investors

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Computer Generated Image

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The DeveloperSelect Developments has a strong track record in delivering exceptional professionally interior designed apartments with attention to detail at the heart of everything that they do.

Who is Select Developments?Select Developments Group has harnessed its reputation as a trusted, highly credible and proven developer. It has achieved this by building a solid track record for acquiring, developing and bringing to market interior-led properties across the capital’s most desirable postcodes including Chelsea, Westminster, Battersea and Fulham.

Undoubtedly, the strength of Select Developments lies in combining the team’s expansive industry knowledge, particularly of the London market, and delivering high quality residential developments. Select Developments is now expanding and diversifying their portfolio to incorporate the London commuter belts to deliver residents and investors stunning apartments at more affordable price points.

Select Developments – The ApproachProfessionalism, quality design and attention to detail is at the heart of everything that Select Developments do. With more than 50 years combined experience,

their in-house interior architects and project managers are responsible for taking properties from inception through to completion.

Historically, Select Developments has sourced and acquired property in prime London locations; then redeveloped the schemes by transforming them into first-class, stylishly designed and finished homes. Select Developments ensures that they enhance all living spaces with clever design details and sourcing premium fixtures and fittings from designer styled kitchens hand-picked from Italy through to engineered wood flooring and Italian porcelain tiles to deliver market leading residential dwellings.

At a Glancen Strong track recordn High end London residential multi-unit

conversionsn Over 50 years combined experiencen In-house design teamn In-house project managementn Renowned for premium design and specification

14 Mandeville Courtyard

13 &14 Mandeville Courtyard

Lochaline Street

24 Donovan Court

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bluliving.co.uk

selectdevelopments.co.uk

A DEVELOPMENT BY