Property Week

Turnstone goes halves on Broers | 27/11/09

Turnstone Estates, the developer run by Chris Goldsmith, has sold a 50% stake in the Broers Building in Cambridge, to Burall Developments for an undisclosed sum.

The two companies have formed a joint venture, Nafield Properties, in which to hold the investment. The building will provide 42,236 sq ft of office, research and development and ancillary space when it reaches completion later this year. Nafield is developing this building on a speculative basis with funding from Dunbar Bank. Januarys and Pentlow Properties advised Turnstone and Burall respectively. Bidwells and Januarys are the letting agents.