Green light for Weybridge office scheme

Rockspring achieves planning for 103,600 sq ft speculative development at Brooklands

Article posted: 02 Jun 2011

Rockspring Property Investment Managers and its development partner, Exton Estates, have announced that they have received planning consent for a new development of 103,600 sq ft of office space in Weybridge, Surrey, at The Arrows Site, Brooklands.

The development scheme, which has been named ‘Velocity’, will offer grade A office accommodation together with 370 car parking spaces. It has been designed as two independent, self-contained buildings, arranged over five floors. Construction will commence imminently on site, with completion expected in autumn 2012.

Rockspring acquired the site in Weybridge in January 2011 from Mercedes Benz for £4.25m on behalf of the Rockspring UK Value Fund.  The scheme is one of three speculative developments owned by the fund which are currently being constructed.

Richard Bains, Rockspring UK Value Fund Manager said: “Rockspring is funding a number of key office developments in London and the South East which will be on site this year. We are confident that in selected locations now is the right time to bring new product to the market, putting us ahead of anticipated competition.”

Stuart Bedford at Exton added: “Rockspring and Exton are delighted to have secured planning permission on what we believe will be one of the most exciting office developments in the South East. We will be one of only five speculative starts on site this year in the South East office market and Velocity, with its striking architecture and high specification, is well positioned to capture active demand. We expect strong early interest in this high quality headquarters office building.”

Strutt & Parker and CBRE are retained as joint sole letting agents for the development. 

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Posted by Jules