BNP Paribas finance arm secures largest Basingstoke letting in five years

BNP Paribas Real Estate have confirmed the letting of 21,000 sq ft of high-quality office space at Midpoint in Basingstoke from Skelton Group Investments Limited (Skelton Group) to BNP Paribas Leasing Solutions (Leasing Solutions), in what is the largest office letting in Basingstoke town centre for five years.

Leasing Solutions, the asset finance arm of the global French bank BNP Paribas, have taken the 4th floor and Part 5th floor on a new 10-year lease, and will be relocating their 280 strong workforce from their existing offices in Northern Cross, Basing View to Midpoint later this year. As part of the deal, Skelton Group is upgrading the air conditioning to a new and highly efficient VRF system, installing EV charging points as well as modifying the existing fit out on both floors to provide Leasing Solutions and their staff with a modern and well specified workspace.

Simon Keefe, director of Skelton Group said ‘’We are delighted to have secured such an excellent tenant and major Basingstoke occupier for Midpoint. The adaption and reuse of most of the existing fit out has delivered Leasing Solutions with significant financial and environmental savings that could not be achieved elsewhere. This letting to Leasing Solutions comes on the back of recent lease renewals with existing tenants Once for All and CARS, leaving only one fully fitted suite of 6,100 sq ft available. The other occupier in the building is global infrastructure and environment consultancy Aecom.”

Leasing Solutions director Rachel Appleton said: ’’We had been based at our Basing View building since the early 1990’s and we wanted to move to more modern environmentally friendly premises in keeping with our corporate objectives. Midpoint ticks all the boxes for us by offering a new and modern reception area, flexible floor plates with good natural light, generous parking and near to the train station and local shops. This coupled with the enhancements being undertaken by Skelton Group as part of the deal made Midpoint the preferred option, and we look forward to our move there later this year’’.

Andrew Newman of joint letting agents Hollis Hockley said: ‘’Despite current uncertainties in the office market this deal demonstrates that there continues to be demand for a good quality product in the right location. Availability of good quality space in Basingstoke town centre is limited, particularly in the 10-20,000 sq ft range’’.

Hollis Hockley and Baker Davidson Thomas were joint letting agents for Skelton Group. Leasing Solutions were represented by BNP Paribas Real Estate.