Chatham Maritime — English Estates’ redevelopment of 350 acres of the Kent town’s disused Royal Naval base — has attracted three office developments to its shores.
Wilson (UK) Developments are to build a 60,000-sq ft speculative office scheme in two blocks, to be known as Compass North and South.
The total investment in the scheme will be about £6m and work is due to start in late July/early August. Rents in the area stand at about £7.50 per sq ft at the moment.
Letting agents are Richard Ellis and Ward & Partners.
The second project is four self-contained buildings of about 5,000 sq ft each which are being developed by the future occupiers. One of these will be Ward & Partners.
AMEC Properties are to refurbish a 14,000-sq ft office block on the site. The building was formerly the central administrative offices for the Navy and English Estates are talking to a potential tenant for a prelet of the whole.
Work is due to start within the next few weeks with completion next summer. The buildings’ investment value will be some £1.5m.
These schemes bring the private sector commitment to the dock project to £25m, three times more than the Government’s contribution so far. Shortly due to start is the conversion of the Pembroke complex, to be funded by the private sector at a cost of about £16m. When complete, it will provide offices and laboratory space.
