Frasers Property UK has completed three key office lettings at Chineham Park in Basingstoke, totalling 48,000 sq ft.
Frasers Property UK, a business unit of Frasers Property, which develops, owns and manages residential and commercial property in the UK, including a portfolio of business parks across the UK, revealed that US security company HID Global and UK cashless parking provider RingGo have both taken 10-year leases for space in the business park’s flagship Maplewood building.
The lettings, totalling 30,000 sq ft, were concluded within three months of practical completion of the 90,000-sq-ft refurbishment of the Maplewood building. The updated building offers high specification office space over three large, light and efficient floorplates.
Coinciding with the lettings at Maplewood, Merlin Entertainment, the UK-based entertainment group and owners of Legoland Resorts and Chessington World of Adventures, has signed a 10-year lease on the entire space of No 1 Elmwood totalling 18,066 sq ft.
CEO of Frasers Property UK, Ilaria del Beato, commented: “Our vision is to establish thriving business communities across our parks where we provide spaces for people and enterprise to flourish. Central to this vision is the creation of high-standard workspaces and maintenance of good quality environments and amenities that are complemented by engaging and well-executed events. We continuously explore ways to enhance the accommodation and facilities at our parks. Recently refurbished Maplewood at Chineham Park, for example, is now a workspace for the future that is perfectly equipped to respond to the needs of our new occupiers.”
Jeremy Metcalfe, partner at Hollis Hockley, commented: “Letting 30,000 sq ft to such high calibre tenants is testament to the quality of the refurbished Maplewood. Grade A office supply in Basingstoke is at its lowest point for 15 years, so Maplewood is well positioned to secure further lettings in 2020.”
HID was advised by Cushman & Wakefield, RingGo was advised by CBRE, Merlin Entertainments was advised by Gerald Eve while Frasers Property UK was advised by Hollis Hockley and BNP Paribas Real Estate.