Strong demand and limited supply is driving plans for the development of new Grade A office space in Basingstoke.
Last year, office lettings in the town totalled 260,000 sq ft with almost 50% of these on Basing View, the town’s 65-acre central business district. Significant deals included the 45,000 sq ft pre let to Eli Lilly and Company and the letting of Abstract’s 60,000 sq ft Florence Building to Sovereign Housing Association.
Other significant out of town lettings last year included 49,000 sq ft to Vyaire at Chineham Gate and 32,700 sq ft let to Vision RT at Viables.
Local agents BDT estimated that available office space in Basingstoke totalled 587,000 sq ft at the end of 2018, but according to Thames Valley agents RARE, only 52,000 sq ft of this is existing Grade A space.
Kate Dean, Project Director (Basing View and Commercial) at Basingstoke and Deane Borough Council comments: “With a shortage of Grade A office space looming, Basing View is well placed to meet demand. Leading international architecture and design firm BDP has just been appointed for the redevelopment of the gateway Norden House site and the Council’s joint venture development partner Muse has started pre-let marketing for Benchmark, a 40,000 sq ft office immediately to the north of the new Eli Lilly building.”
Elsewhere in the town, Frasers are on site with the refurbishment of Maplewood at Chineham which will provide 93,000 sq ft and completes in June this year.
There are also plans for refurbishment of existing Basing View office buildings, creating more high quality office space. Arena Business Centres, which already has a centre at The Square, Basing View, recently purchased Quantum House. It is planning major investment in the 38,000 sq ft office building, including the construction of a new reception and business lounge.
Kate Dean adds: “2019 is set to be an exciting year at Basing View. Construction of the new Village Hotel has started and enabling works on the site of the new Eli Lilly and Company offices are also underway. Add to this, the new development options which are in the pipeline and it is clear that Basingstoke has a lot to offer in office space, location and amenities for companies considering relocating here.”« Back to news
Work has started on a new headquarters for a major Basingstoke employer, thanks to funding from the Enterprise M3 Local Enterprise Partnership and support through the borough council’s Invest to Grow Fund. One of the largest international pharmaceutical companies, Eli Lilly and Company, will move into a new 45,000 sq ft headquarters at Basing View […]Read more »
Basingstoke and Deane has been recognised as a great place to do business, being named as one of the top office locations outside London, and the fourth best in the South East. The league table of workplace winners, published in Property Week, puts the borough ahead of locations such as of Guildford, Wokingham and Winchester. […]Read more »
Strong demand and limited supply is driving plans for the development of new Grade A office space in Basingstoke. Last year, office lettings in the town totalled 260,000 sq ft with almost 50% of these on Basing View, the town’s 65-acre central business district. Significant deals included the 45,000 sq ft pre let to Eli […]Read more »
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 »