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Planning approval has been received for a scheme to create new office space in Weybridge in London. A new development project that will create no less than 103,600 square feet of office space at The Arrows Site, Brooklands, has been given the green light, much to the delight of the two companies behind the scheme, Rockspring Property Investment Managers and Exton Estates.
The new development, which is intended to be constructed as two separate buildings with five floors and parking spaces for no less than 370 motor vehicles, has been given the name of “Velocity”, and is now expected to begin construction almost straight away, with the intention being for the project to reach completion in the autumn of next year. The site was formerly the property of Mercedes Benz, from whom Rockspring Property Investment Managers purchased it in January for £4.25 million via the Rockspring UK Value Fund, which also has two other similar development projects already in construction.
“Rockspring is funding a number of key office developments in London and the South East which will be on site this year,” says the manager of the Rockspring UK Value Fund, Richard Bains. “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.”
There are two letting agencies working for the project, CBRE and Strutt & Parker.
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