St Modwen Industrial & Logistics has been granted planning permission by Basingstoke and Deane Borough Council to create an 11.3-acre business park, with the developer expecting to start speculative construction of three industrial and logistics units totalling 200,000 sq ft in Q2 2020.
The Basingstoke site, owned by global multi-industrial manufacturer and leaseholder ITT Inc, is located within the wider Viables Business Park and will be known as St Modwen Park Basingstoke. The developer expects the trio of units to be ready for occupation as early as Q1 2021 in response to strong occupier demand.
The three high-quality industrial and distribution units will range from 36,000-190,000 sq ft and form part of St Modwen’s strategy to grow and retain a high-quality UK logistics portfolio. Once fully developed, the scheme will create up to 250 new jobs.
Strategically located between Junction 6 and 7 of the M3 and within 2 miles of Basingstoke town centre, the development is well placed to capitalise on the town’s diverse economy and provides fast access to London, Southampton and the West.
David McGougan, senior development manager at St Modwen Industrial & Logistics, said: “This is a strategic site on the M3 with excellent access to the strong commercial hub of Basingstoke. Working with ITT Inc and Basingstoke and Deane Borough Council allows us to fulfil the council’s aspiration to intensify employment use and deliver regeneration. We look forward to providing high-quality floor space and turning the land into a key employment site.”
Basingstoke and Deane Borough Council’s cabinet member for regeneration and property Cllr John Izett, added: “Basingstoke is a great place to invest. We are delighted to have reached agreement with St. Modwen which, with planning permission, will enable the company to redevelop this key site near the M3 for a new logistics park. I am confident the new agreement offers excellent prospects for success for both St. Modwen and our borough.”
Marketing agents for the site are Jim London of London Clancy and Andrew Newman of Hollis Hockley.
For more information, visit: stmodwenlogistics.co.uk/property/st-modwen-park-basingstoke