Tungsten Properties has acquired a prime, six-acre site next to Hampshire Industrial Park in Basingstoke for £8 million.

The acquisition, funded by Maven Capital Partners, a subsidiary of Mattioli Woods, secures a consented freehold site at Crockford Lane, north-east of Basingstoke, which will provide a new urban logistics development at Hampshire Industrial Park.

Tungsten Properties recently achieved planning permission for two industrial warehouses, one of 100,555 sq ft and one of 23,275 sq ft.

The buildings will be net zero carbon ready and target BREEAM Excellent, an EPC A rating and positive biodiversity net gain through on-site measures.

Solar Panels, air source heat pumps, 20 per cent active EV charging and 80 per cent passive charging to all car parking spaces will be delivered

Both units could be available from Q4 2024 with freehold and leasehold pre-sale and pre-let opportunities available.

David Mole, development director of Tungsten Properties, said: “This is our third project with the Mattioli Woods group of companies following successful projects in Witney and Handcross. We acquired this prime site as we believe there is a disparity between supply and demand of new ESG-led employment space in Basingstoke and the M3 corridor.

“We have recently seen a correction in industrial land values and this is our first acquisition since then with further opportunities in the pipeline. We continue to see a market for prime sites where we can identify such a disparity and are able to deliver our carbon efficient buildings to meet latent market demand.”

Ben Aspell, investment director of Maven Capital Partners, said: “We are delighted to be working with Tungsten Properties providing acquisition finance from a managed syndicate of investors. The Group’s previous two projects with Tungsten delivered excellent returns to our private clients from mid-box industrial development and, while the industrial market has changed significantly over the past 15 months, there remains a distinct lack of premium stock, particularly in the small to mid-box market.”

BNP Paribas and Realest are commercial leasing agents.

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