A development agreement, signed 11 years ago, for the regeneration of Basing View is not to be renewed.

Basingstoke & Deane Borough Council and Muse Developments have agreed not to extend the agreement, signed in December 2011, which is due to come to an end this December.

Under the agreement a Waitrose store, the new 45,000 sq ft head offices for Eli Lilly and new public space were delivered.

The council says those schemes helped bring forward others including the 60,000 sq ft Florence Building, let to Sovereign Housing Association, and a new Village Hotel which opened in February 2020.

The authority will now seek to work with other development partners to deliver the remaining office schemes.

Cabinet member for finance and property Cllr John Izett said: “Basing View has significantly changed for the better over the past 10 years and I would like to thank Muse Developments for their part in achieving this transformation.

“As well as delivering two major schemes that have created new jobs and amenities, the partnership has also stimulated other external investment at Basing View.

“The decision not to extend the development agreement later this year will allow us to take a fresh look at the opportunities available at Basing View and find new partners to deliver developments as part of our plans to continue to boost economic recovery in the borough.”

Chris Scott, development director at Muse, said: “We’re very proud to see the improvements at Basing View that have come forward over the last 10 years and are only disappointed with the impact the pandemic has had on the ability to bring forward new, best-in-class employment space in the area.

“We understand the council’s wish to focus on attracting more speculative office development in Basingstoke, which unfortunately does not fit with our medium-term strategy.

“We wish the council every success for the future and look forward to Basing View continuing to evolve as a resilient and quality location for businesses to thrive.”

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