16 January 2018

Major funding awarded to Basingstoke’s central business district regeneration

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.”

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