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Rockspring Presses Spec Button in City. Newton Perkins is joint agent.

Rockspring Property Investment Managers together with Charterfield Asset Management has begun work on its speculative redevelopment of 24 Monument Street, EC3, a 75,000 sq ft City office scheme.

The new building will be known as ‘Monument Place’ (formerly Centurion House) and will be constructed by Mace.The David Walker Architects-designed scheme includes two ground floor shops, totalling 7,400 sq ft.The existing building, which was bought in December 2010, was originally built in the mid 1980s and comprised 61,000 sq ft of outdated offices.The plans provide for a one third increase in the net lettable area of the building. Delivery of the completed building is targeted for summer 2013.

Joint agents, Newton Perkins and Knight Frank, will be marketing the speculative offices and MMX Retail will be marketing the retail space.Richard Bains, European Director of Rockspring, said: “This site provides the opportunity to deliver quality Grade A office space into an undersupplied market and we expect to see high demand from a variety of City occupiers who are increasingly seeking the best possible accommodation."

The stunning new building, which incorporates terraces and an impressive double height entrance, will not only have excellent green credentials, but will also cater for a variety of requirements given the range of floor plate sizes on offer.”

pnorman@costar.co.uk

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