Rockspring Property Investment Managers has confirmed it has acquired a 50% stake in a 66,655 sq ft speculative office scheme in Maidenhead.
The development of the Tor building will be led by Rockspring. Joint venture partner RREEF will continue to own the remaining half of the site at St Cloud Way.
Michael Pryer, associate partner of Rockspring, said: “This purchase further strengthens our development exposure in this market, where we continue to believe that the limited supply of excellent quality office space, coupled with strong demand, makes this an attractive investment opportunity to create above-average returns for our investors.”
Construction of the £10m project will begin in the third quarter, with completion expected in Q3 2013.
joanna.bourke@estatesgazette.com
