Construction work on an 80,000 sq ft speculative office scheme in west London will start next year, after the Highbridge Park site was purchased by Rockspring Property Investment Managers.
The new development in Uxbridge town centre, on the Grand Union Canal, will be known as Toyon.
Rockspring plans to begin construction early next year with completion scheduled for June 2014.
It will be one of the biggest west London speculative office schemes since the recession, and follows BAM's recent announcement that it will start work on an 81,000 sq ft development in Chiswick.
Rockspring is planning further expansion in the south east office market.
In a joint venture with Exton Estates, it has made an offer for a site in Weybridge, Surrey, which already has planning consent for a 130,000 sq ft office building. If successful, the developers will seek new permission for two separate buildings comprising 100,000 sq ft.
Rockspring fund manager Richard Bains said: “We perceive a lack of supply and continued demand in the M25 office market. If we can get hold of the right scheme, get on site and deliver, there is potentially the right balance of risk and reward. We have made a conscious decision to seek out these opportunities, where we can get an oven-ready scheme and get first-mover advantage.”
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