A new development of M25 offices estimated to cost £17 million is scheduled to begin construction in spring 2012.
Rockspring purchased the stake in the speculative office scheme in Staines from Hammerson and will work alongside Exton Estates to create two Grade A headquarter buildings.
It is hoped the M25 offices will be released to the market the following spring and will achieve a Building Research Establishment Environmental Assessment Method rating of 'excellent.'
The development will total 60,000 sq ft, with offices spread across three and four floors.
Commenting on the development, director of Exton Estates Stuart Bedford told Construction Enquirer: "We are delighted to be moving this project forward having secured planning and vacant possession. It continues our excellent working relationship with Rockspring following the Velocity, Brooklands project."
In November, Rockspring purchased Mole Business Park in Leatherhead for more than £38 million on behalf of the Rockspring Hanover Property Unit Trust from Hermes Real Estate Investment Management.
Posted by David Hudek
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