INDUSTRY NEWS

£500m Ruskin Square quarter under construction

Joint developers Schroder UK Real Estate Fund and Stanhope London are hoping that the 1.25m sq. ft of London office space being created as part of the Ruskin Square quarter will meet growing demand for Grade A office space in London.

Work on the first Croydon office has begun, with expected completion of the 200, 000 sq. ft space estimated as autumn 2016. the project was won by Australian based real estate investment and developer firm Lendlease for £40m. The property will also incorporate shops on the ground floor.

Lendlease, Managing Director, Neil Martin, said ““We are looking forward to working with Stanhope and Schroders on this pivotal development in a part of South London that is set to undergo a remarkable transformation over the next few years.”

Lendlease and Stanhope London have worked on office previous before, including Bishopsgate Tower, Broadgate, Central Saint Giles and Unilever House

As well as providing office space, the development is expected to include 625 homes along with shops, cafes, restaurants and public space. Due to be completed in 2016, Places for People took over the property management for the residential phase in July 2014, and will construct more than 160 high quality homes.

By: Kirsty MacGregor

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

Leave a Reply

Your email address will not be published. Required fields are marked *