NEW LEASE OF LIFE: The Fliberts in Reading, the former home of Heart Radio which is to be transformed into a 66-bedroom care home after the property was sold in a deal negotiated by property consultancy Vail Williams
A new care home is to be developed west of Reading town centre following a £3.5 million property deal for the former radio station.
LNT Care Developments acquired The Filberts, a 13,570 sq ft modern office building, in a deal brokered by property consultancy Vail Williams.
The land and buildings, situated in The Chase off the A4 Bath Road, is to be repurposed as an upmarket 66-bedroom care home.
It was formerly the broadcast base of Global Radio Services Ltd/Heart FM and before that 2-Ten FM and Kennet Radio.
Vail Williams acted for the vendors, commercial property portfolio specialists Lewis Investment.
Vail Williams Thames Valley region Partner Guy Parkes, based at The Thames Valley office, said: “This is a well-known property, just three miles from town, and is steeped in local radio history.
“Now it is to get a new lease of life as LNT Care Developments transforms the site into a 66-bedroom, three-storey care home offering 16 sq m bedrooms with fully en-suite wet room facilities.
“The premium specification for the home includes a cinema room, hairdressing salon, garden room, library and coffee shop – all to be set within landscaped gardens with approved parking facilities.”
The current two-storey building, built in 2000 and sitting on a 1.43-acre site with ample car parking, is located within a primarily residential area with retail facilities nearby and easy access to the M4 and mainline rail services.
LNT Care Developments, based in Garforth, West Yorkshire, is the UK’s leading purpose-built residential care home developer and constructor and is currently working on 20 sites across the UK with a pipeline of more than 100 more sites.
Andrew Long, of LNT Care Developments, said: “These are exciting times as we continue to build state-of-the-art care homes across the UK. Our new Reading site is perfectly located for residents, staff and visitors and we look forward to beginning construction work.”
Lewis Investment is an independent financial services firm whose specialisms include facilitating commercial property investments through pension syndicates and property clubs.
Alastair Warwick-Smith, Director of Lewis Property Services who day-to-day asset manages the expanding Lewis Property Portfolio, said: “We are delighted with Vail Williams for securing this important property disposal which will benefit our valued clients.”
Vail Williams’ full-service property advice includes property valuation, planning and lease advice, investment and development expertise, property asset management and occupier consultancy.
ENDS
