Invista real estate has altered it’s plans to build office space and a hotel on the former British Gas site in Staines.
The new application, submitted to Spelthorne Borough Council, includes a 111,500 square foot office space building plus two smaller constructions whose combined floor space will produce a further 100,000 square foot of work area.
The original plans, put forward by the property company two years ago, were put on hold because of the recession.
Now the firm is searching for pre-lets to ensure the building has confirmed tenants before work on the site is completed, on approval by the council. Development will take place in a phased manner; as the demand for space increases and lettings agreed, more offices will be built.
Nick Howitt, director of HBOS funds at the company, said: “We have reacted to a difficult market by re-grouping as a team to reassess the original plans for the development. We have listened to our advisors and taken on board feedback from market experts to develop a new product which we believe firmly meets the requirements for office space in the economic climate”.
He continued: “As any commercial property developer would agree, the last two years have been incredibly challenging. We are beginning to see confidence returning to the market, as our decision to submit this revised planning application demonstrates”.
Mayor of Spelthorne John O Hara said: “When the application comes before the council, a question I am bound to ask is that if they intend to build all offices, where will we have this hotel? What I would like to see in London Road is some cafe’s and bistros to generate a bit of life back into this area of town”.