After a long standing two year search for suitable commercial premises, Trane UK Ltd have signed into an Agreement for Lease on ‘The Laurels’ building on the Viables Business Park in Basingstoke. The Agreement for Lease will roll into a formal 10 year Lease with a 5th year rent review and/or break clause following the completion of some outstanding Landlord’s Works.
BDT represented Trane in the transaction, initially starting the search for suitable warehouse and yard premises back in the summer of 2020. The combination of the ‘right size’ warehousing, ancillary offices and extensive hardstanding and parking requirements, served to limit the opportunities available to Trane. Consequently, the area of search extended beyond Basingstoke initially, but ultimately a suitable building of 32,000 sq ft happened to be identified within ½ mile of their current office address!
The rent and rent free terms have been withheld, but the unit will enable Trane to combine operations (including external yard storage) from other nearby locations, bringing with it considerable operational advantages. The company services and maintains large air-conditioning, heating and ventilation units which are primarily used in manufacturing, hospitals, studios, concert halls, data centres and many more industries. The yard area at The Laurels will be utilised to store the HVAC units which are the size of large generators, before and after their maintenance and servicing within the warehouse itself.
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Contact for further information:
Richard Thomas
Baker Davidson Thomas
E-mail: richard.thomas@bdt.uk.com
Telephone: 01256 840 777
11th October 2022
BDT can report two further, and not insignificant lettings at Faraday Office Park in the Daneshill area of Basingstoke.
The ground floor of Unit 4 has been let to Kone Plc, who will occupy 1,707 sq ft of fitted and furnished space at a headline rent of £20.00 per sq ft. ITT Industries Ltd have leased the first floor in the same unit, comprising 1,954 sq ft, paying £14.00 per sq ft for unfitted open plan space.
The deals were completed within two weeks of each other and reflected a busy period for office enquiries in late spring this year. Both of the tenant’s offer excellent covenant strengths, which will be pleasing for the landlord, Eskmuir Securities Ltd.
Interestingly, both occupiers emerged from former facilities which became earmarked for redevelopment, the intention being to redevelop historic and dated 1980’s offices into more marketable brand new warehousing space, which is in greater demand than secondary offices nowadays.
Unit 2 on the Faraday Office Park scheme continues to be marketed by BDT and Hollis Hockley, for Eskmuir and offers space options between 3,139 – 9,936 sq ft.
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Contact for further information:
Richard Thomas
Baker Davidson Thomas
E-mail: richard.thomas@bdt.uk.com
Telephone: 01256 840 777
11th October 2022
St Modwen Logistics has completed its 190,000 sq ft industrial development of Viables Business Park at Basingstoke. The buildings are EPC A rated, include rainwater harvesting, EV charging points and PV solar panels.
The manufacturing space, comprising three buildings and two retail pods, has been let to LevertonHELM – a joint venture between Leverton Lithium and HELM AG. The firm makes battery grade Lithium chemicals.
Polly Troughton, Managing Director at St Modwen Logistics, said “At St Modwen Logistics we are committed to providing our customers with the space and support they need to succeed. Working closely with the local authority, we are proud to be investing in the redevelopment of the site, which supports LevertonHELM’s continued growth and expansion, helping create local jobs and generating economic growth in and around Basingstoke.
LevertonHELM has secured a prime campus on which to manufacture lithium and the redevelopment will not only generate revenue, but also bring more jobs directly and indirectly to the Borough”.
BDT provided advice to LevertonHELM.
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Contact for further information:
Brian Pickett
Baker Davidson Thomas
E-mail: brian.pickett@bdt.uk.com
Telephone: 01256 840 777
2nd August 2022
Acting on behalf of a private investor, BDT have brought a rare freehold building to the market, and even more unusually the property has a Grade II Listing status.
81 – 83 Church Street situated on the town centre fringe, comprises a self-contained highly attractive, brick and tile building of 2,263 sq ft and it is thought to backdate to the 17th century. The north facing gable end incorporates some classical Baroque style architecture.
The property will be offered For Sale at a guide price of £430,000 + VAT. Planning consent allows for refurbishment of all three floors for office or Class E purposes, alternatively consent now exists for a conversion of the two upper floors of the building into 3 one bedroom apartments. Obviously, any conversion project will have to be undertaken sympathetically and must retain architectural features in the process, to include the 17th century timber ceiling beams. The ground floor could be refurbished and used for a variety of office or retail purposes, but must remain in commercial use.
Further information is available upon application to BDT or joint agents, London Clancy.
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Contact for further information:
Richard Thomas
Baker Davidson Thomas
E-mail: richard.thomas@bdt.uk.com
Telephone: 01256 840 777
28th July 2022
The Loddon Centre industrial/warehouse scheme in Wade Road, Basingstoke, is fully occupied again following the letting of Unit H to Ideology Vapes Ltd.
The letting reflects the general increase in rental tone within the warehousing sector, simply a result of strong demand versus limited supply. The last letting on the estate was achieved in August 2019 at £8.00 per sq ft, whereas the recent transaction on Unit H was agreed at £8.75 per sq ft for a 6 year term, and with minimal rent free. The unit comprised 10,500 sq ft.
Colliers Global Investors purchased the estate for a County Council client of theirs some 6 or 7 years ago and continue to manage the portfolio, appointing BDT to handle the agency and rent review instructions as and when they arise.
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Contact for further information:
Richard Thomas
Baker Davidson Thomas
E-mail: richard.thomas@bdt.uk.com
Telephone: 01256 840 777
26th May
On behalf of Katana Property Ltd, BDT incorporating Woodford & Company have let the whole of Unit 5 Meridian Office Park to Inclusion Hampshire. The building totals 9,368 sq ft and is set out on 3 floors with the benefit of 49 car spaces. Inclusion Hampshire have taken a new lease for a term of 15 years with a break at the 10th year.
Inclusion Hampshire are expanding their specialist college, Inclusion College, which will be providing more placements for young people with additional needs. The College specialises in mental health and well-being support to young people aged 16+ throughout North Hampshire.
Bdt and London Clancy acted for Katana Property. The tenant represented themselves
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Contact for further information:
Brian Pickett
Baker Davidson Thomas
E-mail: brian.pickett@bdt.uk.com
Telephone: 01256 840 777
25th May 2022
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