There would appear to be increasing signs of improved activity within the Basingstoke office market … at long last!
At the time of writing this article, BDT can report around 10 ongoing legal transactions involving properties on our books of below 5,000 sq ft in size.
Stepping up into the ‘mid range’ market of between 5,000 sq ft and say, 15,000 sq ft, we have recently reported the letting of Bridgwater House on Viables Business Park, and whilst we are not directly involved as agents, there have also been some pretty significant lettings and lease renewals within Belvedere and Matrix House on Basing View.
The new owners of Chineham Park; Oaktree Capital, and Patrizia UK, have recently reported successful lettings to Covidien (7,000 sq ft) and Abacus Insurance (6,000 sq ft).
The ‘corporates’ are also showing signs of life again. Fuelled by the expansion of Micro-P (now Exertis Ltd) on Chineham, the Park’s asset management team have secured large lettings to Level 3 Communications, Motorola Mobility, and Micro-P themselves. Various leases were surrendered and space relet as part of a tri-partite deal. The estimated ‘net’ take up was approximately 45,000 sq ft of space.
There are also at least 4 large corporate organisations, already based in Basingstoke, with genuine requirements for 30,000 sq ft or more. These type of enquiries simply did not exist 12 months ago, as uncertainty, nervousness and inertia prevailed. Viewing activity is improving, first and foremost.
Photographs below depict buildings on Chineham Park, where lettings have been reported recently. BDT were not involved in these agency deals although we continue to offer vital background advice to the Park’s owners on all matters relating to business rates.
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Ashwood – shortly to be the new home for Micro-P/Exertis Ltd
Central 40 – Covidien now occupy 7,000 sq ft
Redwood – Lettings to Level 3 and Motorola Mobility have filled the building
Contact for further information:
Telephone: 01256 840 777
10th July 2015