Take up boost in Basingstoke office market

Research by property consultants Baker Davidson Thomas has shown positive take up figures in the Basingstoke & Deane office market during 2019.

Lettings across the borough totalled almost 305,000 sq ft with 52 per cent of the figure being in the Basing View business district.

Significant deals on the 65-acre park included the 37,000 sq ft redevelopment of Quantum House by Arena Business Centres, the letting of almost 35,000 sq ft to the Ministry of Defence at Southern Cross, currently being refurbished, and the letting of the 61,400 sq ft Florence Building to Sovereign Housing Association.

Other significant lettings in the borough included 24,240 sq ft to the Highways Agency at Viables Business Park and 18,066 sq ft let to Merlin Entertainment at Chineham Park.

There were also deals securing 13,600 sq ft to Reflexis, 14,700 sq ft to Cobalt Technologies and 13,900 sq ft to HID.

An estimated 678,000 sq ft remains available including new schemes such as the remarkable 154,000 sq ft Mountbatten House, acquired by Squarestone Hub which is undertaking a major refurbishment of the 1970s building.

Further Grade A space in the Basing View pipeline includes a new 40,000 sq ft Benchmark building and the redevelopment of Norden House to create 45,000 sq ft building called Neon.

Leader of Basingstoke and Deane Borough Council, Cllr Ken Rhatigan, said: “The borough is already home to over 7,700 businesses and we are committed to attracting more businesses to be part of our growing success story.

“These latest figures are further confirmation that the work we are doing through projects such as the £500 million regeneration of Basing View to ensure the borough is well placed to meet demand now and in the future, is working.

“Basingstoke and Deane has a lot to offer with a range of office space, great connectivity to the ports and London and high-quality amenities for companies considering relocating here.”

BDT director Richard Thomas said: “The 2019 take up stats are impressive particularly when set against the Brexit related challenges that were faced in the commercial property sector. We predict that demand will be healthier again in 2020, the town is most certainly back on the map.”