Office take-up remains strong in Basingstoke

Basingstoke and Deane continues to demonstrate it is a workplace winner, following the release of the latest office take-up figures.

Last year, office lettings across the borough totalled almost 305,000 sq ft with 52% of these on Basing View, the town’s 65-acre central business district.

Significant deals on Basing View 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 which is currently being refurbished and the letting of the 61,400 sq ft Florence Building in its entirety to Sovereign Housing Association.

Other significant lettings in the borough last year 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. Other lettings included 13,600 sq ft to Reflexis, 14,700 sq ft to Cobalt Technologies and 13,900 sq ft to HID.

Basingstoke property agents Baker Davidson Thomas also estimated that available office space in Basingstoke and Deane totalled 678,000 sq ft at the end of 2019.

In addition to office lettings, Squarestone Hub completed its purchase of the 154,000 sq ft Mountbatten House with its Grade II listed hanging gardens and has planning permission for a comprehensive refurbishment. This space forms part of the total supply figure reported by BDT.

Further Grade A office space is set to be made available through a new 40,000 sq ft office building, named Benchmark, and the redevelopment of Norden House to create 45,000 sq ft of new office space, named 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.”

Richard Thomas at BDT added: “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!”