3 LARGE DEALS BOOST TAKE UP FIGURES
The Basingstoke office market has seen approximate take up figures of 40,000 in 2009 and 2010 respectively, followed by nearer to 90,000 last year. These ‘stats’ are specific to open market lettings of 5,000 or more, and include nearby Hook on junction 5 of the M3 motorway.
So far in 2012, the total take up in the Basingstoke/Hook market is an impressive 109,000 , with potential for at least two more deals of around 10,000 in the next month or so.
MicroPeripherals have expanded into another building on Chineham Park, and the Hampshire County Council have exchanged contracts to acquire 34,600 of space in the Vertex building at Chineham Court in Great Binfields Road.
In Hook, BMW have leased 33,300 in Form 1 at Bartley Wood Business Park, and the nearby 23,600 Woodgate building has been sold to a division of American company Kohler Ltd.
There is no denying that these are impressive figures and now long overdue. Time will tell however, as to whether the momentum can be maintained. As a general theme, demand remains poor, particularly in the corporate sector. New enquiries are much needed in order to replace the handful of deals which have finally crystallised after months of work on the part of the respective letting agents and their landlord clients.
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