Indurent has secured detailed planning approval for a circa 230,000 sq ft industrial and logistics development at Viables Business Park near Basingstoke.
The scheme, which will be delivered under a development agreement between Indurent and Basingstoke and Deane Borough Council, will revitalise a large industrial complex currently occupied by Sony Europe.
As part of the agreement, Indurent will build a new circa 43,000 sq ft facility for Sony on a vacant car park within the existing complex, which is located two miles from Basingstoke town centre directly adjacent to the M3.
Once Sony relocates to its new facility, the current building will be demolished and a speculative circa 161,000 sq ft industrial unit will be built. Under the terms of the tripartite agreement, Indurent will gift the new building to the council upon completion and the council will grant Indurent a long term lease for the unit.
Nick Kay, senior development director at Indurent, said: “Collaboration between local authorities and the private sector is critical to unlocking sites for the development of industrial workspace that will help drive regional economic growth. Our long-term partnership with Basingstoke and Deane Borough Council at Indurent Park Basingstoke is a blueprint for this, with the next phase of development at the scheme set to deliver a significant volume of sustainable, modern warehousing.”
Gavin James, co-leader and cabinet member for finance and property at Basingstoke and Deane Borough Council, added: “I am pleased that we have been able to work closely with Sony and Indurent to secure this significant investment for one of our major employment sites. As well as retaining high-quality jobs and creating new employment opportunities in the borough with the additional building planned for the site, it is fantastic to see innovative technology development happening right here in Basingstoke.
“Targeting BREEAM Excellent standards, this scheme will support our work to become a net zero carbon borough by 2030 and secure vital income for the council that we will continue to invest to deliver our high-quality services.”
Hollis Hockley helped Indurent secure the development agreement.
