Devonshire Property Holdings has bought the Meadlake Place office complex in Egham from Rockspring for an undisclosed sum.
Devonshire Property is planning to refurbish and extend two existing buildings comprising 28,000 sq ft and has appointed Hanover Green as joint letting agents.
The private property company plans a complete refurbishment of Building 1, which comprises 10,000 sq ft and to extend Building Two from 18,000 sq ft to 28,000 sq ft. Quoting rents are likely to be in the region of £28.50 per sq ft.
Devonshire Property and its subsidiaries have been directly involved in around 30 active management and development projects in Central London with various joint venture partners, including four with Aviva Investors, with end values amounting to over £300m.
Hanover Green acted for Rockspring on the sale and have been retained as joint letting agents by Devonshire.