A change of heart by The AA has meant that the developers of The Florence Building have returned to the open market. Changes at management level apparently prompted The AA to withdrawn from negotiations to sign a new Lease on the entire 60,000 sq ft Basing View office facility. News of this nature is not good for the town and may even be seen as something of a setback for the Council’s promotion of Basing View as being a revitalised ‘in-town’ business location.
Nevertheless, developers, Abstract Securities and their letting agency team are left with no choice but to plough on with what has now become a speculative development scheme, with completion scheduled for July 2018. Their promotional campaign highlights the fact that The Florence Building offers the first new offices in Basingstoke for 15 years. The property will form 5 floors of around 12,000 sq ft each – more likely in our view, to be let as individual or combined floors now that The AA prelet has been thwarted.