M&G Real Estate, one of the UK’s largest property investors, has been granted planning consent for its £6m office redevelopment in central Guildford.
The consent will pave the way for M&G Real Estate to redevelop 3 London Square, the third and final building on a site which is collectively delivering 78,000 sq ft of fully redeveloped office accommodation in a key town centre location.
Works on 3 London Square are expected to commence imminently, while the redevelopment of the adjacent 2 London Square is due to complete in Q4 2016.
Guildford Borough Council unanimously approved the proposals to reconfigure and refurbish the third headquarter office building in this modern, Grade A office development close to Guildford High Street and moments’ walk from London Road rail station.
In all, more than £12m has been committed by M&G Real Estate as part of its strategic strategy to improve the office accommodation in this core South East town centre, as Aaron Pope, Director, Asset Management at M&G Real Estate explains:
“Occupier appetite in high quality office accommodation in large towns within an hour of London remains very strong. The supply and demand imbalance we observed in Guildford made it a prime choice for speculative investment in new office space. We are confident that it will serve us well in securing high quality tenants for our London Square scheme, bringing new jobs to the town, and we look forward to works beginning on the third building soon.”
Knight Frank and Hanover Green jointly act for M&G Real Estate at London Square, Guildford.
M&G Real Estate is a significant investor in Guildford – which also owns The Friary, Guildford, a 150,000 sq ft shopping centre in the heart of the town.
