A development partner will be sought this summer to bring forward a major redevelopment of the Basing View business park in
The 10-to-15-year project, being promoted by Basingstoke and Deane council will extend the park from 1.2m sq ft in size to 1.825m sq ft and will include 600,000 sq ft of new office development, 150,000 sq ft of hotels and serviced apartments, 100,000 sq ft of residential 35,0000 sq ft of shops and 15,000 sq ft of leisure.
The local authority this week backed a Broadway Malyan-designed masterplan for the 65-acre park. This proposes several business districts, including a Downtown area, with a piazza and a pedestrian boulevard linking the site to the town centre.
Freehold owner Basingtoke and Deane has assembled around 15 acres of fresh development land principally by acquiring leasehold interests on rundown office blocks that it will demolish including two 10-storey buildings, Loddon House and City Wall House, totalling 140,000 sq ft.
A development partner will shortly be sort for a fully serviced upper end hotel on a gateway site into the park. In the summer/autumn the council will then seek a long-term development partner for the remainder of the scheme.
The site links to the town centre via Grosvenor’s
The 1970s-built Basing View still employs around 4,500 people and is home to occupiers including the AA, Shoosmiths and Kier. However, around 500,000 sq ft of office space is vacant at the park.
To facilitate the development the council has secured £5m of Growth Point money for public realm improvements at the site.
Cabinet member for finance and property, cllr James Lewin, said: “We need to be ready to benefit from improving economic conditions and be able to attract new occupiers by having suitable development partners in place other wise investment will go elsewhere.
“Occupiers requiring new space will have other choices in the region if we are not in a position to deliver.”
Jones Lang LaSalle, WSP and Davis Langdon advise
JLL is giving commercial advice.
