Invista Real Estate is planning a 500,000 sq ft-plus office-led development in the centre of Staines, Middlesex.
Acting on behalf of Clerical Medical, Invista will develop the 5.2-acre site of British Gas’s former HQ at 17-51 London Road in two phases.
Consent has just been granted for the first phase of the Staines Piazza scheme, which will comprise 200,000 sq ft of offices in two TP Bennett-designed buildings, a 152-bedroom hotel and 15,000 sq ft of shops.
The second phase will feature a further 300,000 sq ft of offices alongside shops and leisure. Completion is scheduled for 2010 – putting it in direct competition with Landid and REEFF’s 376,000 sq ft office-led redevelopment of Majestic House in the town centre.
Proposals to redevelop the dated office block – known locally as The Slab – have been in place for several years, but have now been able to move forward following British Gas parent Centrica’s departure from the site last year.
Invista’s plans for the area will also take in the nearby 310,000 sq ft Elmsleigh shopping centre, which underwent a £9m makeover two years ago.
Alan Tripp, head of HBOS funds at Invista, said: “This is the continuation of a substantial development programme by Invista in Staines. It is yet another demonstration of growing confidence in the Thames Valley office market.”
Invista, in a joint venture with Kier, is also developing a 600,000 sq ft office-led development in Reading, Berkshire. Reading Central is scheduled for completion in 2009.
Jones Lang LaSalle and Savills have been appointed as joint letting agents on Staines Piazza.
