Lamron Estates and SJR Properties have entered into a £40 mln (€51 mln) forward-funding deal with Royal London Asset Management to speculatively develop a new 82,750 sq ft (7,690 m2) office scheme in central Woking, England.
The scheme, designed by architects Scott Brownrigg, has gained planning consent and will be one of the few new build office schemes to be constructed in Woking in recent years.
The seven-storey development is located on the site of the former Kings Court and Thomson House and will provide 77 car spaces. The building will target BREEAM excellent environmental rating.
Completion is expected for the second quarter of 2018.
Malcolm McPhail, managing director of Lamron Estates, said: 'This will be one of the few large new build schemes to be constructed not only in Woking but the whole of the South West quadrant of the M25 in recent years, supplying much needed Grade A space in the area.'
BNP Paribas Real Estate arranged the funding on behalf of Lamron Estates and SJR Properties; Griffiths Eccles acted for Royal London Asset Management.
