South Molton Properties, the new company run by former Hunting Gate Developments London director Jeremy Needs, has taken just 28 days to complete its first purchase.
Backed by quoted property company Cardiff Property, South Molton has bought the freehold of Headland House at Brookwood, Woking, for £560,000 from the receiver to Wootton Jeffries.
There is outline consent for 1,672m2 (18,000 sq ft) of new offices on the 0.7ha (1.7 acre) site. Cardiff, which owns a portfolio worth about £10m, is funding the scheme.
According to Needs, the company will submit detailed plans in September and is talking to the local council about other suitable uses.
Robert Shaw & Partners and DTZ Debenham Thorpe acted for the vendor.
