50% Now Let

Description

Prospero is the only new office development in Redhill – a proven business location with excellent transport connectivity. Its large floors and high quality specification provide flexible space attuned to modern business needs. The accommodation totals 50,373 sq ft, with 87 car parking spaces. Top floor roof terraces offer impressive panoramic views of Memorial Park and the North Downs.

Click here to view the time lapse construction movie

A modern corporate headquarters building

Specification

Grade A specification

  • Occupational density of 1 person per 8 sq m
  • VRV air conditioning
  • Three 13 person passenger lifts serving all floors
  • 2.85m office floor to ceiling height
  • Suspended ceilings with metal tiles incorporating LG7 compliant LED lighting
  • Full access raised floor (150 mm overall)
  • Instantly available high speed fibre broadband
  • Double height reception
  • Roof terraces on third floor
  • Male, female and disabled WCs on each floor
  • Changing rooms with showers, lockers and drying rooms
  • 87 car parking spaces at a ratio of 1:552 sq ft
  • 10 electric car charging points
  • 44 secure cycle rack spaces

Large, flexible floors to suit modern business needs

Accommodation

Floor Sq-ft Sq-m
Third (Let to Morrisons Solicitors LLP) Let Let
Second 13,915 1,293
First 12,996 1,207
Ground (Let to The Plan Group Ltd) Let Let
Total (net approx.) 26,911 2,500

Approximate IPMS3 areas and key dimensions, to be verified on completion.

The greenest building in Redhill

Sustainability

    Excellent eco credentials with low running costs

  • BREEAM 'Excellent'
  • EPC rating A
  • Automatic lighting controls
  • Excellent natural light
  • LED Lighting in office areas
  • Building energy management system
  • Designed to achieve highest levels of insulation and low U values

Comparision of total annual predicted energy bills

£300,000.00 £250,000.00 £200,000.00 £150,000.00 £100,000.00 £50,000.00 £0.00
£ psf 4 3 2 1 0

  • Typical UK office
  • Prospero, Redhill

Energy savings

  • The greenest building in Redhill
  • Electricity expected to be 60% lower than a typical UK office building
  • Internal energy costs are estimated to be £1.59 per sq ft, compared to a typical UK office building of £4.77 per sq ft

Centre for high profile corporate occupiers

Redhill

Redhill is a thriving town located in the south west of Surrey at the foot of the North Downs. The town blends old and new, with attractive Victorian buildings alongside modern architecture.

The Belfry shopping centre is home to a range of major retailers including Marks and Spencer, Boots, WH Smith and Topshop, as well as a range of smaller shops catering for your every day needs. The first phase of Sainsbury's new store in Warwick Quadrant opened in August 2016.

Surrey offers an enviable quality of life, with a unique mix of towns and villages, plentiful common land and open spaces, good motorways and easy airport access, all within a half hour commute of London. To the north of Redhill, the North Downs Way runs through an area of outstanding natural beauty and offers a wealth of outdoor activities. The Channel coast is 35 miles to the south and the London to Brighton bike ride goes right past Prospero's door down the A23.

Regeneration

Significant regeneration projects are underway in Redhill town centre.

Reigate & Banstead Borough Council have been working to bring forward redevelopment of key sites in the town.

Highway works to improve the town centre's traffic flow, including conversion of the one-way road system to two-way, are now complete together with improvements to pedestrian and cycle routes to make the town centre more attractive and safer.

Redhill Station is due to be redeveloped to improve capacity and provide a greater sense of arrival, and will include a new Waitrose store.

Marketfield Way
Proposals for the redevelopment of this town centre site fronting High Street and Marketfield Way include a new cinema and restaurant / retail provision

Memorial Park
Memorial Park has had a £1.4m makeover including a new entrance opposite Prospero.

Station Corner
A redevelopment to provide 61 apartments and a Tesco Express opposite Redhill station.

3 Princess Way
This new landmark development is home to a 68 room Travelodge, The Gym which is open 24/7 and a large Sainsburys Superstore with 550 parking spaces and includes a sushi bar and pizzeria.

Station / car park
A comprehensive redevelopment to include a new station and ticket office, a new Waitrose foodstore with smaller retail units, 150 apartments and new multi-storey car park.

Redhill regeneration projects
Redhill retail

A centre for high profile corporate occupiers

Car Spaces - 191
Car Spaces - 285
Car Spaces - 780
Memorial Park
Station
Station Corner
Harlequin Theatre
Belfry
Prospero
Marketfield Way
Warwick Quadrant
Prospero Map

Location

Excellent strategic location

Redhill is an excellent strategic location on the southern M25 at the junction with the M23.

It has an extensive catchment area for staff recruitment, including South London and Croydon.

The town provides a public transport hub at the intersection of the London to Brighton (north/south) and Tonbridge to Reading (east/west) rail lines.

SAT NAV - RH1 1LQ



Excellent connectivity

Road

Location Distance
Redhill Mainline Station 0.25 miles
M25 J8 3 miles
Gatwick Airport 8 miles
Crawley 11 miles
Croydon 12 miles
Central London 20 miles
Heathrow Airport 36 miles

Rail

Location Duration Trains per Hour
Gatwick Airport 7 mins 5 – 8
East Croydon 11 mins 7
Clapham Junction 22 mins 3 – 5
London Victoria 28 mins 3 – 5
London Bridge 33 mins 2 – 4
Brighton 42 mins 3 – 4

Large, flexible floors to suit modern business needs

Space Planning

Create your own space

Need help figuring out how to plan your space? Use this free floor planing tool to bring your vision to life.

Get Started

Downloads

Prospero Brochure

Click for PDF

Connectivity Report

Click for PDF

Energy Cost Saving Report & EPC

Click for PDF

Detailed specification

Click for PDF

News

  • LETTING PROGRESS CONTINUES FOR McKAY AT PROSPERO, REDHILL
    30 Oct 2017

    McKay Securities PLC, the only UK REIT specialising exclusively in the London and South East office and industrial markets, has let the ground floor of Prospero, its new 50,370 sq ft office development in Redhill, to insurance broker, The Plan Group Limited ("The Plan Group").

    The Plan Group has agreed a 15 year lease term on 11,537 sq ft of space, with a tenant break option after 10 years, at a rent of £346,110 p.a., equivalent to £30.00 per sq ft. Prospero will represent The Plan Group's new headquarters, relocating from their existing freehold in Purley, Croydon. This announcement follows a letting earlier in the year of the third floor of Prospero to Morrisons Solicitors LLP. With two of the four floors now committed, Prospero is 46% let at rents ahead of ERV. Marketing of the remaining two floors totalling 26,100 sq ft continues to generate encouraging interest.

    The 1.2 acre Prospero site was acquired by McKay in an off-market transaction in May 2013 for £2.3 million, with the benefit of a planning consent in place. Following immediate work to enhance the office planning consent and dispose of surplus land to a residential developer, McKay completed the development at the end of 2016.

    Commenting on the letting, Simon Perkins, Chief Executive of McKay, said:
    "The selection of Prospero by The Plan Group provides a clear indication of demand for the occupierfocused business space we have created in this undersupplied market. This letting means two of the four floors are now occupied, and interest levels remain high in the remainder of the property.

    "As this letting demonstrates, we continue to deliver attractive shareholder returns through realising the significant reversionary potential of our portfolio and with a strong pipeline of active projects we look forward to maintaining this."

    Scott Georgiades, Founder and Corporate Development Director of The Plan Group, said:
    "The opening of our new office building in Redhill is an exciting new step in our company's development. We see an increasing demand and interest for our services and we strongly believe that our brand really fits here. The convenience of the Prospero office location coupled with the impressive sustainability levels of the development were major pull factors in moving our business here."

    McKay's Prospero project was Redhill's first new office development in over 10 years. The building features four large flexible floors, 87 car parking spaces and is flooded with daylight due to floor to ceiling windows. The scheme achieved the BREEAM "Excellent" and EPC 'A' ratings due to its sustainable design, ensuring running costs are kept to a minimum. Its electricity consumption is expected to be 60% lower than a typical UK office building.

    Located in the heart of Redhill town centre, Prospero is just a seven minute walk from Redhill railway station which provides direct access to London Bridge, London Victoria and Gatwick Airport. It is equally conveniently situated close to the M25.

    Strutt & Parker and Altus Group acted on behalf of McKay and Michael Rogers acted on behalf of The Plan Group.

    For further information please contact:

    McKay Securities PLC
    Simon Perkins, CEO
    Giles Salmon, CFO
    01189 502333

    FTI Consulting
    Dido Laurimore, Tom Gough, Ellie Sweeney
    020 3727 1000

    About McKay Securities

    McKay Securities PLC is a commercial property investment company with Real Estate Investment Trust (REIT) status, listed on the main market of the London Stock Exchange. It specialises in the development and refurbishment of good quality office and industrial buildings within established and proven markets of London and South East England. The portfolio, which is valued in excess of £430 million, comprises 36 properties in strong and established areas which deliver diversity in terms of both sector and location.



    For a PDF of this article, please click here

  • MCKAY SECURITIES HAS SECURED ITS FIRST TENANT AT PROSPERO, ITS RECENTLY COMPLETED OFFICE DEVELOPMENT IN REDHILL, SURREY
    21 Feb 2017

    The UK REIT has signed up Morrisons Solicitors to a 10-year lease for the entire third floor, totalling 10,643 sq ft, at £31/sq ft.

    Morrisons is expanding into the building from an existing Redhill office, and will occupy more than 20% of the 50,370 sq ft asset. The 1.2 acre site that Prospero sits on was acquired by McKay in an off-market transaction in May 2013 for £2.3m. Following immediate work to enhance the office planning consent and dispose of surplus land to a residential developer, McKay was able to progress the scheme in January 2015.

    Simon Perkins, chief executive of McKay said: "Our ability to attract a highly regarded regional law firm such as Morrisons is testament to the quality and appeal of our most recent development, Prospero. This modern and attractive building instantly impresses upon entering, while its strong sustainability credentials act as a further incentive to today's increasingly environmentally- and cost-conscious tenants.

    "With a surplus of outdated stock in the market, we identified the demand and potential for a contemporary new office building in Redhill, a well-connected South East town that has proven popular with corporate occupiers. Our ability to lure Morrisons across town to Prospero is a clear endorsement of our conviction, and we look forward to announcing further lettings in due course with encouraging discussions underway with prospective tenants." Prospero was completed by McKay in November 2016 with its development partner, Lamron Estates.

    Strutt & Parker acted on behalf of McKay Securities, and Altus Group acted on behalf of Morrisons Solicitors.

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