Spacia - Industrial Development - London SE1, Rotherhithe New Road

Date: 31 May 2002

Work on a major new development of industrial workspace for south London's small businesses is to start next month - providing 21 new business premises in Bermondsey.

The scheme, based at the Rotherhithe New Road, is being developed by Spacia, the UK's largest landlord for small businesses. Twelve railway arches are being refurbished and nine free-standing units being built to provide accommodation which will appeal to small businesses looking for workshop and storage space.

The 33,000 sq ft (3,065 sq m) development will add to Spacia's portfolio of 4,000 properties in London, many of which are based in the capital's southern boroughs.

Adrian Schofield, National Investment Manager, comments: "Bermondsey is part of a thriving borough which has over 6,000 businesses employing over 125,000 people. This development will help some of those businesses in the search of easily accessible property next to the rail network, and will contribute to the area's business growth."

The development is expected to be completed and ready for occupation by spring 2003. Spacia is also currently undertaking major regeneration projects at properties in Battersea, Deptford and Waterloo and is redeveloping a total of 225,000 sq ft (21,000 sq m) of business space across the capital.

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