UK’s conserved Horlicks factory-turned-luxury apartments to launch in Singapore

By Nadine Yong

/ EdgeProp Singapore |

March 24, 2022 10:16 AM SGT

The clocktower, part of the original Horlicks factory building, will be restored. (Credit: Berkeley)

SINGAPORE (EDGEPROP) - For more than a century, the Horlicks factory in Slough, UK, manufactured the well-known malted milk drink Horlicks, which was then shipped around the world. Built in 1908, the Horlicks factory ceased operations in 2018.

The following year, British developer Berkeley received planning permission from local authorities to redevelop the 999- year leasehold, 12-acre (522,722 sq ft) site into Horlicks Quarter, with 1,300 residential units.

Slough is located within Royal Berkshire, about 32 km from Central London.

The centrepiece of Horlicks Quarter is the Horlicks Factory with its landmark clocktower, which Berkeley will preserve. The interior of the Horlicks Factory will be converted into 161 luxury residences — ranging from studios, one- and two-bedroom apartments to three-bedroom duplex penthouses.

The Horlicks Factory will join the league of British icons that have undergone successful conversions, such as Battersea Power Station, the Tate Modern and the Gillette Building.

Singaporeans will now have a chance to purchase a unit at the Horlicks Factory, as international property company Benham and Reeves will be showcasing the project over the weekend of March 26-27 at Raffles Hotel Arcade.

“The 161 units in the Horlicks Factory are probably the most unique in the development, as they represent a once-in-a-lifetime opportunity to live in the original Horlicks factory building,” says Doris Tan, regional director of Benham and Reeves. “You’re buying a piece of history, and yet the space will be completely refurbished to a high standard by Berkeley Homes.”

British architecture firm Sheppard Robson is leading the conversion of the Horlicks factory and the redevelopment of Horlicks Quarter. Apartments will feature contemporary and industrial detailing, inspired by the heritage of the factory. Within the factory building is a glass atrium, floating walkways and internal glass elevator leading up to a roof garden, offering views towards Windsor Castle. Residents’ facilities include a concierge service, fitness centre, games room, cinema and co-working space, with an on-site café and day nursery in the pipeline.

Horlicks factory rooftop garden - EDGEPROP SINGAPORE

The Horlicks factory rooftop garden. (Credit: Berkeley)

The Horlicks Factory is part of the first phase of Horlicks Quarter that includes three new apartment blocks, namely Darjeeling House, Artesian House and Aquifer House. Darjeeling House was launched in January 2021 and is fully sold. The 250-unit Artesian House was launched in July 2021 and is 80% sold to date.

In this latest phase, Berkeley launched the Horlicks Factory and the 104-unit Aquifer House in the UK a fortnight ago. And in Singapore, 67 units at the Horlicks Factory, as well as units at Aquifer House, will be offered for sale. Prices of the apartments will start from £288,000 ($513,734). “Buyers therefore have a choice between the heritage units at Horlicks Factory or new-build apartments,” says Benham and Reeves’ Tan.

Horlicks Quarter is located at the centre of Slough, and a five-minute walk from Slough station, which is part of the Crossrail. As Slough’s first major residential scheme, Horlicks Quarter is expected to draw significant interest from both local and international buyers. “We are seeing increasing interest in UK property, especially in the suburban towns, due to good rental demand and the connectivity of these towns to Central London on the Crossrail, which is scheduled to open in April 2022,” says Tan.

Horlicks Quarter is located in the town centre of Slough, a five-minute walk away from Slough station. (Credit: Berkeley)

She estimates that prices at Slough are 50% below that of London, hence investors can anticipate gross yields of about 5%. “Slough [is] one of the fastest-growing commuter towns in the UK,” adds Tan. “It is home to the largest number of global headquarters after London, and you will find strong rental market for an iconic development like Horlicks Quarter in Slough.”

Tan: The 161 units in the Horlicks factory represent a once-in-alifetime opportunity to live in the original Horlicks factory building. (Photo: Samuel Isaac Chua/The Edge Singapore)

Besides global headquarters of companies such as DHL, Mars and O2 Telefonica, Slough is within an hour’s travel — either by car or train — of eight top universities. These include Oxford University, Imperial College London and University College London. According to funding provider TIC Finance research (based on UK’s Office for National Statistics), Slough is one of the top three areas in the UK in terms of average housing price growth over the past 10 years, with an annual growth rate of 6.4%.

Slough is part of Thames Valley, the UK’s fastest-growing economic sub-region driven mainly by the technology sector. It is 15 minutes from London by train and 11 km from Heathrow Airport. The proposed Western Rail Link, tentatively planned for 2028, will further cut travelling time to Heathrow Airport to seven minutes.

The Horlicks Quarter project is part of an ongoing £3.5 billion regeneration programme to turn Slough’s central district into a business, residential, cultural and leisure hub. Major investors include Berkeley, Morgan Sindall, the Abu Dhabi Investment Authority and Aberdeen Assets. The regeneration programme is expected to create more than 9,000 homes and 10,000 new jobs in the future.

“Due to the lower capital entry, many investors are looking outside Central London to diversify their portfolio,” notes Benham and Reeves’ Tan. “For locals, commuter towns like Slough work out to be better value for money compared to living in the capital city.”