LONDON- Morley Fund Management and Crest Nicholson have joined forces to acquire one of the few remaining prime sites in the south-east capable of accommodating a million-sf business park in excess of 1 m sq ft. They have bought the 315-acre site former Defence Estates Research Agency (DERA) sites at Chertsey, Surrey.

The site straddles the M3 near its intersection with the M25. The developers plan an office park on the 100 acre northern site, which uniquely has its own dedicated railway station. They plan a mixed-use development on the remaining 215 acres south of the M3.

The site already houses 850,000 sf of existing buildings and facilities, giving short-term income potential. The developers say preliminary discussions have been held with a number of prospective tenants, and buildings designed to meet specific requirements can be factored into the master planning.

The Crest/Morley Consortium was advised by DTZ Debenham Tie Leung and the vendor, QinetiQ, was represented by CBRE.

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