The refurbishment of around 50,000 square feet of office space at 65 Southwark Street in London got underway last week. The project, which is the only such major office space related scheme in the Southbank area to be happening this year or before at least March next year, is being undertaken by property developer Moorevale, in conjunction with their funding partner, Rockspring.
While the Shard building is set to be completed next year, creating 575,000 square feet of new offices for rent on the Southbank, outside of the London Bridge Quarter is a very different story, leaving an almost exclusive market for the Southwark Street refurbishment project to take full advantage of. "We feel extremely confident in building out into the Southbank market," says Mike Probert from Moorevale. "The pipeline is dry and will stay that way up to and beyond completion of 65 Southwark Street early next year."
Probert formed specialist property company Moorevale eight years ago, back in 2003, after having previously served as the chief executive of Merivale Moore Plc. The company is located on Clarges Street in Mayfair in London and both invest in commercial property and sometimes serve as strategic asset managers for other companies. Rockspring is an independent property fund management company and widely recognised as one of the leading such firms in the industry, with commercial property investments across the whole of the United Kingdom and Europe.
