Through the looking glass as office placed in receivership

An office at a business park in Hampshire has been placed in the hands of receivers Smith & Williamson as they search for a buyer.

Glass-surround Parkview at Chineham Park, near Basingstoke, was acquired five years ago by a BVI-registered property company, Platinum Bell Ltd, during the height of the UK property boom.

But the 1,730 sq m (18,400 sq ft) business space failed to attract enough occupiers in the prolonged economic downturn, said Greg Palfrey, joint receiver with Steve Adshead.

Mr Palfrey, working out of the South Coast office of accountancy and investment management group Smith & Williamson, added: “Looking to the future, the office could become a decent revenue stream with the right business model in place, especially when UK plc does start to recover. We anticipate enquiries from investors with a war chest for opportunities such as this.”

Air-conditioned Parkview, which has two tenants, is two miles from junction 6 of the M3 and is close to a gym, nursery and café at Chineham Park.

The refurbished, three-storey open-plan office – postcode RG24 8NA – is being marketed by joint agents London Clancy and Lawson & Partners on behalf of Smith & Williamson.

Chineham Park is a mixed-used business park, home to more than 40 companies and organisations, reportedly employing more than 3,500 between them, from local firms to international headquarters.