Schroder UK Real Estate Fund (SREF) and its partner Stanhope Plc has confirmed the completion of One Ruskin Square. The premises is the first Grade A commercial building at its £500 million Ruskin Square scheme, located next to East Croydon station.

Designed by shedkm architects with Arup and constructed by LendLease, the completed development comprises 183,000 sq ft of office space over nine floors. The building also includes a 3,570 sq ft café and reception space, along with three retail units totalling around 8,000 sq ft.

SREF and Stanhope have agreed that HM Revenue and Customs (HMRC) will take the 180,000 sq ft at One Ruskin Square on a 25-year lease. The building is the first of five prime office developments planned at Ruskin Square, which will provide 1.25 million sq ft of new office space in total.

HMRC will now begin internal fit out works at One Ruskin Square, before staff move into the building in early 2017.

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Ruskin Square itself covers a nine-acre site and is located adjacent to East Croydon station. The scheme has its own footbridge directly accessing the station's platforms providing travel into Central London and Gatwick Airport in 15 minutes.

In November, BOXPARK launched its new shipping container hub as an incubator for new dining operators as a 'meanwhile use' at Ruskin Square, while the scheme's first residential building was completed in August of this year, delivering the first 161 new homes of a planned 625 at the site.

James Lass, Fund Manager, SREF, said: "We are delighted to reach this important milestone. One Ruskin Square now sets a new benchmark for attractive, high quality commercial space and a focal point for the re-emergence of Croydon as a thriving London hub. The landmark deal agreed with HMRC in August is testament to the quality of the new quarter we are creating here and we now look forward to welcoming the first employees in early 2017."

Jason Margrave, Development Director, Stanhope, added: "The completion of One Ruskin Square is a significant moment in the delivery of Ruskin Square, a thriving new commercial, residential and retail community in the centre of Croydon. The decision by HMRC to locate one of its new office hubs here is a further mark of confidence in both the scheme and the continuing regeneration of Croydon."

Neil Martin, Managing Director of Lendlease's European construction business, commented: "We're thrilled to have worked with our longstanding clients on transforming this key part of Croydon. By working closely together we were able to add real value throughout the project."

(JP)