London & South East

Rockspring: Investing in Europe

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Monument Place & Saipem Office- Rockspring

With over 28 years experience, Rockspring is a property investment fiduciary, specialising in the management and acquisition of commercial property throughout the UK and continental Europe.

Throughout its vast portfolio, Rockspring has a formidable and unchallenged track record of development projects and has funded schemes including St Mary Axe, London EC3 and Westcott Venture Park, Buckinghamshire. Two current projects include the recently completed 90,000 sq ft office refurbishment project at Kings and Conquest House, Kingston (pre-let to Saipem) and the development of 75,000 sq ft of new Grade A offices at Monument Place, London EC2.

Completed in early October 2012, the Kingston project was a £10 million scheme to refurbish an existing office space.

The project comprised the installation of new mechanical and electrical services, the installation of a new entrance, new floors and ceilings and a slight reconfiguration of the building’s internal space. Additional work included the installation of new lifts, new central plant and the refurbishment of the central atrium and reception areas.

Monument Place & Saipem Office- Rockspring

New internal and external glazing, as well as general decoration works also took place on the site.

Work began on the project in January 2012. The project was funded by Rockspring, with Faithdean as the main contractor and ESA as the architect.

Rockspring European Director, Richard Bains, said:

“Prior to work taking place to Kings and Conquest the existing buildings were 25 years old and the mechanical and electrical services were reaching the end of their life. In order to facilitate a new letting we need to reinvest in the building to bring it up to date.

“We pre-let the office accommodation to Saipem – a multinational oil company – which reduced the risk of investing in the refurbishment works, but increased the concentration on implementation of the refurbishment and delivery on time.”

Whilst work is now complete at Kingston, another important project for Rockspring is continuing to make great progress.

Located in London EC3, the Monument Place project is an £18 million scheme to construct a brand new Grade A office building with retail space. Mace is the main contractor and David Walker Architects is providing all architectural services.

Work began on the new build project in October 2011, with civil, structural and demolition specialists McGee’s conducting demolition work to prepare the site ahead of the construction work. In January 2012, Mace then took over the site to begin constructing the new building.

Monument Place & Saipem Office- Rockspring

The new development is being built from a steel frame construction, with Portland stone cladding and full-height glazed windows.

Richard Bains said:

“Monument Place previously housed a 60,000 sq ft office building which we did not consider to be economically suitable for refurbishment, so we obtained planning consent to improve the building’s configuration, creating more space on the site, taking it from 60,000 sq ft to 75,000 sq ft of office space and 4,000 sq ft of retail space.

“The building will include Photovoltaic cells on the roof, rain water harvesting and has been designed to achieve a BREEAM Rating of ‘Excellent’, so it is set to be one of the most environmentally friendly new builds in the area.”

Richard added:

“Across London and the Thames Valley, we have seven office developments underway making us one of the most active developers across the region.”

Monument Place is set to reach completion in June 2013.

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