22
MKS / MAY 2014
PORTFOLIO REVIEW
Speculative redevelopment
of a high quality office building
of 48,000 sq ft
Off-market acquisition May 2013: £2.3m
Residential site sale completed: £0.9m
Net site cost: £1.4m
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Works commenced Jan 2015
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Completion mid 2016
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Build cost (inc fees): circa £12.5m
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ERV: £1.3m pa (£27psf)
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Marketing commenced
Development: Prospero, London Road, Redhill
