St Modwen Industrial & Logistics has started work on its new, high-quality 11.3-acre St Modwen Park Basingstoke scheme, with a demolition programme now underway on the old Viables Business Park.
The existing Basingstoke site, owned freehold by Basingstoke and Deane Borough Council and held by lessee and global multi-industrial manufacturers ITT Inc, is located within the wider Viables Business Park and will be demolished to make way for St Modwen Park Basingstoke.
St Modwen is speculatively developing three high-quality industrial and logistics units, which are on track to be completed by Q3 2021, creating up to 250 new jobs once occupied.
The units of 36,987, 51,572 and 97,781 sq ft will provide occupiers with a multitude of dock level loading doors, level access loading doors, dedicated secure service yards, and Grade ‘A’ office space.
Strategically located between Junction 6 and 7 of the M3 and within 2 miles of Basingstoke town centre, St Modwen Park Basingstoke is well placed to capitalise on the town’s existing diverse economy, providing fast access to London and Southampton.
David McGougan, senior development manager at St Modwen Industrial & Logistics, said: “We’re pleased to be underway with demolition works, illustrating our clear intention to transform this site and deliver an industry-leading employment scheme for Basingstoke. Despite the uncertainty around the pandemic, we remain on course to deliver three high-quality, speculative industrial units and two retail amenity pods in Q3 of 2021 and look forward to bringing leading industrial and logistics occupiers to the area next year.”
Ravi Patel, director of European shared services at ITT Inc, added: “It’s great to see demolition works already underway on the old buildings and that St Modwen is on track to deliver a complete transformation of this site. We’re very much aligned with the developer’s ambition to create a well renowned employment hub here in Basingstoke and look forward to working together on this project as we begin to bring the development to market.”
Cabinet member for regeneration and property at Basingstoke and Deane Borough Council, Cllr John Izett, said: “I am delighted that work for the redevelopment of this site is now underway and this marks a big step in St Modwen’s plans to transform this site into a new logistics park, creating 250 high-quality local jobs once complete.
“Despite the uncertainty that businesses face during the pandemic, it has been great to see St Modwen progress its plans and demonstrate its commitment by investing in Basingstoke. This project is a great example of how the public and private sector can work together to create innovative solutions to deliver high-quality accommodation that businesses require. As the UK economy looks ahead to recovery, I am confident about Basingstoke’s credentials as an attractive business location now and for the future.”
Marketing agents for the site are London Clancy, Hollis Hockley and Savills.
For more information, visit: https://stmodwenlogistics.co.uk/property/st-modwen-park-basingstoke/