Shepherd Developments and Durngate Property Group advised by Strutt & Parker have purchased the office element of Sainsburys £90m new development Providence Place in Maidenhead town centre.

The site is prominently positioned fronting Market Street, St Clouds Way and the newly created town centre Piazza. The building will total 73,100 sq ft arranged over ground and three upper floors together with two levels of basement parking providing 174 spaces. It is the intention of Shepherd / Durngate to make a speculative start on site before the end of the year with completion expected in Spring 2009.

A price of £14 million has been paid for the site.

Says Mark Dinnes of Shepherd Developments: ‘We are extremely pleased to have secured what we believe to be the best office development site in the best town in the Thames Valley. With extremely limited options for tenants to consider in Maidenhead town centre we expect strong early interest in this high quality headquarter office building’.

Strutt & Parker are retained as sole letting agents for the development.

Sainsburys Supermarkets Limited and the Royal Borough of Windsor and Maidenhead were advised by Lambert Smith Hampton and Land and New Homes Countrywide.