Work has started on a multi-million pound office redevelopment in the centre of Richmond.

Barwood capital plan to develop the building, formerly known as Eton House, into 45,000 sq ft of high quality office accommodation.

The site was acquired by Barwood's Regional Property Growth Fund IV in December 2021, with planning permission granted in September 2022.

The £15m build will include a back-to-frame refurbishment with an additional top floor of accommodation and a roof terrace, as well as a ground floor 4,200 sq ft external garden.

The new office space  will include 42 cycle parking spaces, electric vehicle charging points, along with a gym and spinning studio, plus changing rooms and showers.

Practical completion of the redevelopment is targeted for March 2024.

Adam Smith, Asset Management Director at Barwood Capital, said: "Our investment in Richmond comes at a time when employers and staff alike are re-evaluating their expectations of the office environment.

"Demand for high quality, sustainable and amenity-focused space remains resilient. Our approach is to deliver a best-in-class product that will appeal to occupiers as they review their corporate aspirations." 

Charlie Bishop, Director at Moorevale, the development manager for the scheme, added: "As well as the excellent residential provision and good local schools, Richmond benefits from an ever-improving food and beverage scene, plus quick access to London Waterloo via train alongside immediate connectivity to the M4, M3 and beyond."

To date, Barwood Capital has invested over £490 million into UK regional real estate, creating over £1bn, for further information visit https://barwoodcapital.co.uk.