The transformation of Basing View, Basingstoke’s central business district, has received a £7.5 million investment boost from the Enterprise M3 Local Enterprise Partnership due to almost half of it having been designated as an Enterprise Zone in April last year.
As part of the Basingstoke and Deane Borough Council’s work to revitalise Basing View, the LEP funding, which has been agreed in principle, will drive the preparation works for the site sold to Village Hotels to enable construction for a new 153-bedroom business-class hotel to begin.
This major funding will be used immediately to fund the essential work needed before development of various sites can start including a new business-class hotel to be built by Village Hotels bringing with it 185 construction jobs and 100 permanent jobs.
The strategic site has never been able to be developed since the inception of Basing View. The funding will also kick-start the development of new Grade A office buildings on the site adjacent to the new Florence Building.
Basingstoke and Deane Borough Council’s Cabinet Member for Property and Development Cllr John Izett said: “I am delighted that our LEP partners are recognising the opportunities that are deliverable at Basing View by agreeing to support new investment with a sizeable grant of £7.5m. We will put this to good use in bringing forward the proposed new hotel and office developments that will provide new amenities to the people working at Basing View and better, more modern space for them to work from”.
Chair of EZ3 Programme Steering Group and Enterprise M3 board member Nick Elphick said: “This investment in Basing View is part of a package to enable the acceleration of developments to attract businesses to the EZ3 Enterprise Zone. Businesses need an environment where they can grow and prosper, and we are excited by what Basing View will be able to offer them.”« Back to news
People are being asked for their views on plans to ensure the borough’s economy remains resilient for years to come. A consultation on the draft Economic Growth Strategy is now open for people to give their feedback. The strategy has been prepared by Basingstoke and Deane Borough Council after working with local partners, businesses and […]Read more »
Mark Glatman’s Abstract Securities have announced that they have let ‘The Florence Building’ in Basingstoke, to Sovereign Housing Association, and subsequently sold the entire share capital of the Company which owns the asset, on behalf of its shareholders, to LGIM Real Assets (Legal & General). Legal and General has bought the building on behalf of […]Read more »
A major Basingstoke employer is set to get a new home after plans were approved by Basingstoke and Deane Borough Council. Long-established international pharmaceutical company, Eli Lilly and Company, will move its employees into a new 45,000 sq ft headquarters at Basing View after planning permission for the new development was granted last month. Supported […]Read more »
Basingstoke and Deane Borough Council has forward funded a new office in Basing View for one of Basingstoke’s most long-established international occupiers, Eli Lilly and Company, through its pioneering ‘Invest to Grow Fund.’ This is the first project to be supported by the ‘Invest to Grow Fund’, which is aimed at stimulating commercial property and […]Read more »