Consent has been granted for a second landmark office building at the 2m sq ft Ruskin Square development in Croydon.
The £500m Schroder UK Real Estate Fund (“SREF”) scheme, adjacent to East Croydon station, is coming out of the ground fast with the first 180,000 sq ft office now topped out and a first residential building due for completion this summer.
Now the newly consented second commercial building, larger at 250,000 sq ft and standing 63m tall, will deliver a further 200,000 sq ft of offices, with retail and dining at ground floor and will target a BREEAM Excellent sustainability rating.
With Croydon set to become London’s biggest growth centre with more than £5.25bn of investment over the next five years, Ruskin Square is being speculatively developed by Schroder UK Real Estate Fund in partnership with developer, Stanhope PLC.
On a nine acre site, up to 2.5m sq ft of new accommodation will be delivered including 1.25m sq ft of much needed high specification offices, retail and dining, public spaces and up to 625 homes. Centrally placed between Croydon’s central business district and East Croydon Station, and minutes from Central London, it is creating a thriving new community for people to live, work and play at the node of this increasingly desirable London borough.
Award-winning international architectural practice, Make designed the 13-storey second building, drawing on the vernacular architecture of the Croydon borough setting while ensuring animation at ground floor through the retail entrances and their connection with the public realm surroundings.
Commenting, James Lass, Fund Manager, Schroder UK Real Estate Fund, said:
“This latest planning milestone allows us to maintain and build upon the momentum that is building at Ruskin Square. With occupiers increasingly seeking high quality offices in non-core London locations with good public transport access, Croydon is becoming a go-to destination.”
Jason Margrave, Development Director, Stanhope PLC, added:
“With Building One’s structural steelwork due to complete within the next few weeks, the programme for the first office is firmly on track for delivery before the end of 2016 and we are delighted to have secured consent for the second building to follow close behind.”
Savills and JLL are the retained commercial letting agents for Ruskin Square.
