spotlight on basingstoke
or £5,000 in Reading. Total occupancy cost in The Florence Building is over 75% lower than the West End core and nearly 30% lower than in Reading.*
* Source: (Savills and Rare 2017).
Investment boost Recently the transformation of the business district stepped up a gear following a £7.5m investment boost from the Enterprise M3 Local Enterprise Partnership (LEP). This secured funding will be used to prepare the remaining sites for future development.
The LEP funding will provide an immediate boost, facilitating major ground-levelling works for a new business-class hotel to ensure it is development-ready.
The council has signed a long leasehold deal with fast-growing hotel group Village Hotels. The company has submitted plans for a 153-bedroom business-class hotel, complete with leisure club, conferencing facilities and a restaurant, bar and coffee shop. Construction of the hotel is proposed to start in the late summer with an anticipated opening date of autumn 2019.
Subject to planning permission being granted, this £19m investment by Village Hotels will bring more than 130 construction jobs onsite, a further 200 jobs in the construction supply chain and over 100 permanent jobs when it opens. The hotel will offer meeting and events facilities, an all-day restaurant and leisure facilities for businesses and residents.
Negotiations are also underway for long-term Basingstoke occupier
The Florence Building CGI
Eli Lilly and Company to lease a new headquarters building on Basing View. The pre-let deal with the council is set to secure the company’s future in the town.
The commitment from Lilly to stay in Basingstoke will see the company move to a new purpose-designed 45,000 sq ft Grade A office building which will be constructed as part of the borough council’s partnership with Muse Developments.
Enterprise Zone status
Last April marked an exciting new era for the business district with the official launch of a newly-created enterprise zone, EZ³, linking Basing View with two other major regeneration sites, Longcross Park near Chertsey, and Whitehill and Borden’s Louisburg Barracks, to enjoy a host of advantages for the qualifying existing and new occupiers.
Enterprise Zone status gives all new compliant businesses that expand within or locate to Basing View business rates relief up to £275,000 over a five-year period. This is expected to attract more inward investment and accelerate high value business activities to generate local jobs and stimulate a vibrant economy.
Tech Town of the Year
The digital tech economy is an integral part of Basing View’s occupier community and the rapid growth of tech has confirmed Basingstoke’s standing as a ‘Top Ten Tech Town of Tomorrow’ due to the high proportion of tech jobs in the town.
The business park provides unique access to ground-breaking 5G
DeskLodge co-working space
technology through the 5G testbed based in Belvedere House, offering start-up and smaller businesses the opportunity to test the commercial viability of 5G technology.
The 5G testbed is set to put Basingstoke at the forefront of the 5G revolution, enabling businesses and entrepreneurs to get a head-start on the latest advance in mobile communications.
SetSquared, the global number one university business incubator, has chosen Basing View as the only location outside a university campus to establish one of its tech hubs, bringing rich tech capabilities and expertise to help support the launch of new hi-tech companies.
DeskLodge, named by the Daily Telegraph as one of the coolest offices in the world, has launched its new offices in Basing View. Following Bristol’s sell-out success, Desklodge has brought its collaborative co-working space to Basingstoke.
Offering a beach-inspired atrium and invigorating ‘New York’ themed upstairs space, Desklodge offers a workspace with a homely feel which far outstrips the ‘working from home’ experience.
The 20,000 sq ft collaborative and inspiring co-workspace aims to encourage hi-tech start-ups and entrepreneurs to get off the ground with its creative design and flexible terms.
basingview.co.uk basingstoke.gov.uk
THE BUSINESS MAGAZINE – MARCH/APRIL 2018
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