focus on basingstoke
at the MIPIM UK 2016 property sector conference.
Although it is often difficult to capture international trade because overseas businesses tend to focus on London first, the town is within easy reach of the capital and work to attract Basingstoke area investment is also constantly being done with UKTI and the Enterprise M3 LEP*, which has a specific inward investment marketing brief, (*Dean was on the LEP Board from its inception until last June).
Dean adds that the council also fully supports the LEP’s funding bids to the Government’s Local Growth Fund, and a new ‘Basingstoke Together’ BID (business improvement district) scheme has started up in the town centre, with businesses in Basing View driving forward the formation of another.
To assist in correcting any outdated external perceptions about the town, here are a few things you may not know about today’s Basingstoke:
LOCATION
• Town facilities in rural surroundings; less than 8% of the borough is built up.
• Transport connectivity: Easy motorway links to M3, M4, M27, M25. Trains: Direct to London – 43 minutes, Reading and Southampton. Flying: Southampton Airport 28 miles; Heathrow and Gatwick under 60 miles.
• Named as the Local Government Association’s ‘Most financially resilient local authority in the country’, Basingstoke and Deane Borough Council has one of the largest local authority property portfolios in the UK.
• A major proposed development on council-owned land at Manydown could ultimately see 8,000 new homes being built.
• Proposals to regenerate Basingstoke Leisure Park, bringing in new attractions and activities, alongside a designer outlet centre, would make it the largest leisure destination of its kind in the country.
• A recent Savills property report put Basingstoke in the top 30 property hotspots.
ECONOMY
• Basingstoke makes the highest contribution to economic productivity in the Hampshire and Isle of Wight region – £5.2 billion GVA per annum.
• GVA per head at £30,000 is 23% higher than the national average.
• Basingstoke’s catchment area has a highly-skilled workforce – 480,000 people (NVQ3 and above) live within a 60-min drivetime.
• The borough has 7,300 companies, around 77,800 employee jobs; unemployment is low at under 4%.
• Younger than average – 25% of residents are under 20.
BUSINESS-FRIENDLY
• Basingstoke and Deane Borough Council owns 70% of employment land in the borough; 79% of borough jobs are in Basingstoke town.
• The borough council has a track record of supporting initiatives for the good of the area, often using its own land and investment, eg Festival Place shopping centre development; The Malls shopping area £7m refurbishment.
• Council embraces public-private partnership development programmes.
• The town has a 48% five-year survival rate for start-ups.
• Commercial office space at around £20 per sq ft is more affordable than other Thames Valley and Solent business areas.
• Current Basingstoke area developments expected to provide around 1,000 new office jobs.
HERITAGE – old and modern
• In 1865 the Haymarket was built as a corn exchange. In 1925 it became a theatre, which still thrives today.
• Built in the mid-1970s the Arup- designed roof gardens of Mountbatten House, dubbed The ‘Hanging Gardens of Basingstoke’ has Grade II listed status on English Heritage’s register of historic parks and gardens.
THE BUSINESS MAGAZINE – SOLENT & SOUTH COAST – NOVEMBER 2016
What is the key challenge for Basingstoke to resolve?
Jeremy Metcalfe, Strutt & Parker LLP: “The key issue to resolve is one of perception. It’s an expanding town, with quality new housing stock and business space being delivered, a highly-skilled and diversified talent pool with excellent transport links to central London. However I don’t think these key points are always at the forefront of people minds when they think of Basingstoke.”
Diane Dykes, Juicy Marketing: “I am a marketer who lives and breathes branding. Basingstoke needs to shake up and shake off its grey, dreary, lacking in ‘class’ image as a start point. Rebranding, repositioning & remarketing of the town is key for future success.
“If Basingstoke creates a more vibrant personality which entices companies to come here, creates more jobs, appeals to younger people and also provides great options for the over 40’s with disposable income too, it will succeed.”
What is the key opportunity for Basingstoke going forward?
Jeremy Metcalfe, Strutt & Parker LLP: “I think the key opportunity moving forwards is being able to attract regional Thames Valley occupiers to the town due to it being good value. New office stock is being delivered to the market such as the Florence Building and Chineham Gate. These buildings will offer the same specification as other locations in the Thames Valley but at a reduced operational cost. This effect is to be compounded in April next year when the new business rates come into effect. Some surrounding towns will see their business rates almost double, whereas Basingstoke is expected to stay roughly in line with where it is at present.”
Diane Dykes, Juicy Marketing: “We are an a affluent town where unemployment is low. We need to maximise this new investment, ensuring we create an integrated experience for residents and visitors and attract the best companies, talent and retail brands too.
“Who do we want to attract and what does Basingstoke need to do to attract them? And how do we create a truly amazing vibe that keeps bringing people of all ages coming back again and again? Answer these and you have the key to a Basingstoke which is seen in a more positive, vibrant, exciting way.”
businessmag.co.uk
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