For Sale. gva.co.uk/9642. Frouds Bridge Marina. Frouds Lane Aldermaston Reading Berkshire RG7 4LH. March 2016

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1 For Sale Frouds Bridge Marina Frouds Lane Aldermaston Reading Berkshire RG7 4LH March 2016

2 A modern, profitable marina complex, well located on the Kennet and Avon Canal Approximately 160 berths in 2 adjoining basins, serviced with water and electric hook-ups Central complex with office and WC/shower facilities Service berth with diesel fuel pump, pump-out and Elsan chemical disposal point Gravel car parking around the marina basins with easy access to berths 2 bedroom owner s / manager s modern bungalow set in a private garden Workshop and maintenance compound Separate grass paddock (3.379 acres) currently let on an annual licence to a neighbour at a peppercorn licence fee Profitable owner-operated business or equally may be operated under management Well located on the Kennet and Avon Canal approximately equi-distant between Reading and Newbury In all about 6,57 ha ( acres) of mature grounds For sale freehold as a going concern with connection licence to the River Offers invited in the region of 2,850,000 Background and the Opportunity A first phase of the development of Frouds Bridge Marina was opened in 1997 (100 berths) following the re-opening of the canal in 1990 which runs for 87 miles from the River Thames in Reading to Bristol Docks on the Severn estuary. A second marina basin, linked to the first basin with 60 berths was developed and completed in 2006 by the current owners due to demand. The marina represents a modern facility in a mature rural landscape yet close to the major centres of Newbury, Reading and Basingstoke. The vendors are looking to retire from the business after 35 years of developing, owning and operating marinas on the canal system. The marina has until recently been operated by a manager who resided in the house on site which is now vacant. A warden, who resides on their own craft in the main marina basin, is currently assisting with the day-to-day management of the marina on behalf of the vendor.

3 Location Frouds Bridge Marina lies off the River Kennet, just downstream of a junction with one of the canal sections which, combined with the canal and River Avon forms the navigable waterway, known as the Kennet and Avon Canal from Reading (River Thames), approximately 12 miles to the west to Bath and Bristol, 75 miles to the west. The marina is located in a quiet rural location and yet has all the advantages of good communications and access to the major centres of Newbury, Reading and Basingstoke which are all approximately within 12 miles and each providing a comprehensive range of retail, service and leisure outlets. The Kennet and Avon Canal was re-opened in 1990 and has proved be a popular waterway. Frouds Bridge Marina was one of the first to be developed on the system and is the largest marina on the system above the flight of locks at Caen Hill near Devizes. It lies directly between the locks at Woolhampton and Aldermaston. The property is located in the eastern sector of the waterway which leads though the Downland area of West Berkshire and Wiltshire and is within a day s cruising of the River Thames, the most popular cruising water in the country. Communications are generally extremely good with access within ½ a mile of the property to the A4 trunk route which links Reading and Newbury. There is access to the M4 motorway and A34 trunk route at/near Newbury and additional access to the M4 at Theale to the south-west of Reading. In addition, there are local train stations at Aldermaston and Midgham (both about a mile) and InterCity services from Reading and Newbury connect to Central London with a journey time of about 25 and 60 minutes respectively into Paddington Station. The area is within commuting distance of Central London.

4 Description Access to the property is from Frouds Lane, a short distance south of its junction with the A4 and access is from beside a set of traditional farm buildings which have been converted to a small business park. From here a gated access and long wide private driveway, tree lined to one side and a paddock to the other, which is owned, leads to the central complex of marina buildings with the marina basins and river access beyond. The tarmacadam driveway leads up to the central facilities building and a central parking area with the marina office and residential accommodation to one side and a storage compound with timber storage shed/workshop to the other. Overall the property stands in about 6.57 ha / acres of mature landscaped grounds. The marina basins The marina was developed in two phases, Phase 1 being the larger basin adjacent to the river which runs to the west. It comprises approximately 100 berths laid out on extended timber fixed pontoons which are fully serviced with electricity, water and lighting. The pontoons are accessed from two ends with gravel parking adjacent and there is a service pontoon close to the reception office which has a diesel pump and pump-out facility. The basin is part steel piled and part with natural banks with a broad access channel onto the River Kennet. The second basin lies to the east of the first basin and it is approached via a narrow cut from the main basin with vehicular swing bridge over. This basin has space for approximately 60 craft on long fixed timber pontoons, serviced with water, electricity and lighting. Again there is parking around two sides of the basin and a locked emergency access onto the driveway. The long pontoons allow a variety of craft lengths and maximise the use of the space. The marina services building Centrally located, the marina reception and services building with adjoining manager s bungalow unit has been recently developed to a high standard. The building is of single storey brick construction under a tiled roof. The business area includes a management office with space for a small stock of chandlery and a secondary private office to the side. To the rear, there are heated ladies and gentlemen s WCs and shower facilities which are separately approached. The southern end of the central building forms a two bedroom bungalow with lounge, conservatory, kitchen and bathroom. In the eaves there is a large storage area with Velux windows which is approached by a staircase. This area may be capable of future development. The accommodation is surrounded by a well-kept private garden mainly laid to lawn with three sheds and punctuated with shrubs. To the opposite side of the entrance from the reception building, there is a small compound area with a large timber shed for equipment storage (mower, etc). To the south of the driveway into the property, there as a paddock of approximately acres laid to permanent pasture which is currently occupied under the terms of an annual licence by a neighbouring owner who uses it for their horses and as amenity land adjoining their house. In all, the marina itself lies in about acres of mature, wellkept and spacious grounds with plenty of space around the marina basins for recreational use. Services The property is connected to the following services:- Water private borehole supply which has recently been upgraded. Drainage to a soakaway Mains electricity metered to the site with 6 amps supply to the berths, each separately metered. The office roof has a number of photovoltaic panels for the generation of electricity. Heating and hot water LPG boiler with bulk tank with backup from solar panels on the office roof. Therer is alternative heating to the radiators from a wood burning stove. The office is heated by way of electric night storage heaters. Central marina services include a service berth with diesel fuel pump, pump out facility, Elsan chemical disposal point and a gas cage for the sale of LPG cylinders. The requisite Environment Agency extraction and discharge licences are held by the vendor and will be transferred on completion of the sale.

5 The Business The business has until recently been operated by an experienced manager who resided in the bungalow at the property and a warden who resides on their boat in the marina. The vendor visits the property on a regular basis and completes the accounts and makes all the strategic decisions. The main income is derived from moorings which are operated on an annual tariff of 79p per foot per week plus VAT ( per foot exclusive of VAT / inclusive of VAT per annum). The demand for moorings is good and the marina is nearly full. The mooring fees are accounted for in March for the year commencing 1 April and moorers have the option to pay on a monthly or quarterly basis for which an additional premium of 10% and 7.5% is charged. Additional income is earned from the sale of chandlery, diesel, gas cylinders and pump-out. Until recently, this income formed part of the remuneration of the marina manager and it is believed the turnover from these sources was in the order of 45,000-50,000 per annum. In addition, the vendor operates brokerage sales from the marina which are charged at 6% and were operated until very recently on a 50/50 basis with the marina manager and have totalled in the order of 20,000-30,000 in fees per annum over the last 4 years. Profit from all these sources is now fully retained by the vendor as the marina manager has recently retired from the business. Turnover from the marina moorings alone in recent years has been at a consistent level of 280, ,000 with EBITDA (Earnings before interest, tax, depreciation and amortisation) in the range of 230, ,000 before the cost of a marina manager (if required) and assuming the business is operated in hand. Planning Planning consent is fully in place for the existing development with the main basin restricted to leisure craft use with one residential berth which is currently occupied by a warden who assists in the day-to-day management of the property. The second basin with 60 berths approximately is limited to leisure craft which may not leave the basin until the end of their contract. There is no minimum or fixed contract period and therefore there is no difficulty in letting the berths in this basin and the marina management retains a log of boats leaving this basin. This planning condition was imposed by English Nature who did not want increased movement of craft due to the disturbance of wildlife (otters in particular) and creation of sediment in the river. Outgoings The property has a rateable value of 40,000 and the rates payable for 2014/15 are 19,720 at 49.3p in the. The residential dwelling is in Council Tax Band A and the amount payable for 2015/16 is 1, EPC An EPC for the central office and bungalow has been commissioned. Tenure The property is held freehold subject to a river connection licence in favour of a local estate which is charged at 5% of net marina berthing turnover following settlement at arbitration. The local estate claim, but have not provided paperwork to prove, that they own the fundus of the river and this matter was settled by arbitration at the outset of the marina development. There is a short right of way from Frouds Lane through the business park to the marina driveway. The bungalow is currently vacant and was occupied under a service tenancy by the marina manager until recently. The berths are held on annual or shorter term licences, some seasonal. In addition, the pasture paddock is occupied under an annual licence at a peppercorn rent to the owner of a neighbouring house.

6 Terms of Sale The property is offered for sale freehold as a going concern with an inventory of trade fixtures, fittings and effects, the benefit of rights of way and a connection licence, and subject to other occupancy agreements. Stock is specifically excluded from the sale and will be paid for at valuation in addition on completion of the sale. The inventory includes an International Harvester tractor with front loader and topper mower and a John Deere diesel ride-on mower. Viewings and Directions Viewing of the property is strictly by appointment through Bilfinger GVA Retail, Hotels and Leisure. To book an appointment, please contact John Mitchell BSc MRICS. Prior to making an appointment to inspect the property, it is firmly recommended that interested parties satisfy themselves with regard to the particulars of sale set out above and status of the sale in order that they do not make a wasted journey to the property. Directions: The property is approached off the A4 trunk route between the M4 (Junction 12) at Theale (Reading West) and the centre of Newbury. Frouds Lane lies between the local centres of Aldermaston and Woolhampton and lies to the south of this road. After joining Frouds Lane from the A4 go across the railway line and canal, and the marina entrance will be found within a short distance on the right through a business park and opposite a private house. The post code is RG7 4LH.

7 London Birmingham Bristol Cardiff Dublin Edinburgh Glasgow Leeds Liverpool Manchester Newcastle Published by Bilfinger GVA. 65 Gresham Street, London EC2V 7NQ Copyright Bilfinger GVA. Bilfinger GVA is the trading name of GVA Grimley Limited and is a principal shareholder of GVA Worldwide Limited, an independent partnership of property advisers operating globally. Bilfinger GVA is a Bilfinger Real Estate company. For further information or an appointment to view, please contact: John C Mitchell BSc MRICS john.mitchell@gva.co.uk Bilfinger GVA is the trading name of GVA Grimley limited, conditions under which particulars are issued by GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are, give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract. (ii) all descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) no person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property. (iv) all rentals and prices are quoted exclusive of VAT. Reproduced by courtesy of the Controller of HMSO Crown Copyright reserved. Licence No If applicable, with consent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only gva.co.uk/hotelsandleisure