Forsters acts for Rockspring on speculative project in Staines
Forsters has acted for longstanding client Rockspring Property Investment Managers on the purchase of a site for the speculative development of a 60,000 sq ft office scheme in Staines, Surrey.
On behalf of a pension fund, Rockspring has paid Hammerson £5.2m for the land on the Causeway site. The development will be called Flow. In a joint venture with Exton Estates, the four-floor development will cost around £17m. Work will begin in early 2012, and the project is due for completion in spring 2013.
Forsters commercial property partner, Smita Edwards, assisted by Jack Paravicini acted for Rockspring. Partner David Rosen and assistant Carolyn Milligan of Herbert Smith acted for Hammerson.