Rockspring 'could fund outer London offices in Maidenhead'
A development of London offices could be brought forward if Rockspring decides to fund the venture.

The fund manager and developer is close to agreeing a deal to provide the financing for the scheme in the centre of Maidenhead, CoStar UK reported.

Around £20 million would be provided for RREEF and Bell Hammer's TOR office project at Hines Meadow.

TOR is expected to provide headquarter space ranging between 25,000 sq ft and 66,655 sq ft in size at the development off Junction 9 on the M4.

The ground floor is to be 21,670 sq ft in size, with the first and second levels just under 20,000 sq ft and the third floor smaller at 6,727 sq ft.

It is one of many deals Rockspring has recently been involved with in the south-east commercial property market.

Construction is set to begin this spring of a new development estimated to cost £17 million.

A stake in the speculative scheme in Staines was purchased in December by Rockspring from Hammerson to drive forward two new buildings of Grade A offices suitable for headquarter occupancy.

The M25 offices will be spread across three and floor floors at the development, which will measure 60,000 sq ft in total.

In November, Rockspring snapped up Leatherhead's Mole Business Park for more than £38 million from Hermes Real Estate Investment Management for Rockspring Hanover Property Unit Trust.

According to CoStar UK, almost ten large speculative south-east office developments are scheduled for completion over 2012 in a bid to boost the availability of Grade A space in the region.

Businesses that choose to base themselves outside of the centre of London in locations such as Maidenhead can often enjoy lower rents than if they were housed in the capital, yet are only a short distance away from the amenities the city offers.

Posted by John Evans

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