focus on basingstoke


looking for space that would attract and retain talent – not workspace as such, but a place for their employees to enjoy working.”


The fit-outs were very different but the objective was the same, to assist their staff resourcing, Batho added.


Supplying bespoke ‘homes’ for businesses


Business parks increasingly have to accommodate not only diverse companies but also their various occupiers’ cultures and way of working. “So, at Chineham Park for example, if an occupier wants to use their building intensely, the M&E, air conditioning and power have to enable that.” Modern business ‘homes’ now reflect the occupiers’ nature. Employees today also like to know that their place of work is green and efficient,


Even prime premises are already being upcycled. For example, Batho’s team is completely refurbishing the core of Chineham Park’s 10-year old Central 40 building to suit 21st century occupier requirements. And at Elmwood it will introduce an exposed services ‘Manhattan loft-style’ design by Area Sq, specifically aimed at digital economy occupiers – believed to be a first among north Hampshire business parks.


While high standards are necessary on business parks, ‘top quality-top dollar’ Grade A premises are not always required, says Batho. “We provide a broad spectrum of accommodation because some businesses simply need a functional business unit at the appropriate price point.”


Businesses don’t just face the talent battle; they often have to compete on commercial pricing and margins too.


And, Batho exampled how businesses at Chineham Park have started up, then grown and expanded within the park by


enlarging or changing their ‘home’ location – assisted by his management team being approachable and flexible about occupational terms and arrangements.


“Fifteen years ago we welcomed to Chineham a small company called Micro-P with 15 staff. Today that company has 400 people, is called Exertis, and has just taken its seventh building on site and is still expanding.


“We have continually upcycled our buildings to provide product coming through, because if you don’t re-invest and provide best in class, then estates can wither on the vine. Because we own the whole estate, we have complete control of our offering, but we don’t put all our money on black – it’s about managing cashflow, by allowing companies to grow, and offering diversity of product.”


That sole owner-managership also enables Chineham Park to deal efficiently and holistically with its business concerns and collaborations with major players. “We have also used the collective voice of our community to leverage positive outcomes, on traffic management improvements on the A33 for instance.”


Currently, Chineham Park’s offering is 80% office space, 15% light industrial (mainly technology-linked), and most of the rest for SME and start-up businesses. The Park is seeking planning permission to add 130,000 sq ft of general industrial space, effectively double its current offering, as it sees this is a key market in Basingstoke.


Leisure and amenity space is today also an important factor for any business park, says Batho.


Elmwood – exposed services


“Augmenting the Chineham Park amenity offer for our business community has been an ongoing phase for us for some years. We already have a café, restaurant, gym,


THE BUSINESS MAGAZINE – SOLENT & SOUTH COAST – NOVEMBER 2016 businessmag.co.uk 17


Exertis


nursery, hair salon, and Click+Collect, for example.


“Amenities don’t have to be on the business park as long as they are easily accessible to our occupiers.” Chineham Shopping Centre is nearby and the Park runs its own coach- link to Basingstoke town centre, and has parkland walks, plus cycle and jogging trails.


Value for money


A current advantage of Basingstoke’s business parks is their competitive space costs and value for money– at around £20 per sq ft, roughly two-thirds compared with Reading and well below other regional towns.


“Chineham Gate will be launched at £21.50 per sq ft, and I would anticipate several companies outside Basingstoke facing rates revaluations and lease renewals during 2017, seriously considering their price-points because of the regional cost divergences in some locations, is the highest I have seen in 20 years.”


As long as companies can retain their key staff, locational value for money will increasingly become more important, says Batho.


Recent surveys have revealed that about 25% of Chineham Park employees live within 3-4 miles of their place of work, many much closer. “Basingstoke’s population will continue to grow over the next decade and Chineham Park intends to grow with it,” he added.


chinehampark.co.uk


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