MCR Property Group has acquired the 105,000 sq ft Matrix House office building in Basingstoke for an undisclosed price.
Located at the heart of Basing View, Matrix House provides accommodation across ground and six upper floors, within walking distance of Basingstoke railway station.
The building is home to a mix of technology, professional services and corporate occupiers, including WSP UK, Penningtons Manches Cooper, Genus, MasterControl and SonicWall.
MCR will begin a programme of improvements across the building, upgrading the office accommodation, reception, communal spaces and wider occupier experience, while bringing vacant space back into active use and progressing lease regears across the existing tenant base.
Martin Brown, director of commercial property at MCR Property Group, said: “Matrix House is exactly the type of asset we want to own, strong income today, but with a clear opportunity to create significantly more value through investment and active management. Our plan is straightforward, invest in the building, improve the vacant accommodation and shared spaces, regear the leases and drive occupancy. There is a meaningful gap between where Matrix House performs today and where we believe it can get to.
“The interesting thing about the office market is that demand has not disappeared, it has become more concentrated. Better buildings are taking a greater share of it. That makes investment in the right assets more attractive, not less. We are also preparing to bring a new workspace proposition across parts of our commercial portfolio, combining better designed space, more flexibility and a stronger level of service. Matrix House gives us exactly the kind of scale and opportunity where that thinking can make a real difference.
“We like Basingstoke, we like where Basing View is heading and we are proud to be investing in the town. We see both rental growth and capital growth potential here, and we intend to put the investment in to capture it.”
He added: “We have been very active this year, but the year is not finished. Matrix House is our seventh commercial acquisition of 2026 and we are targeting a further £50m to £100m of investment before the end of the year. We have capital to deploy and we are actively looking. We want substantial buildings in locations we believe in, where investment, leasing and active ownership can materially improve performance. We are not buying for volume. We are buying where we can see value and where we know exactly what we are going to do with the asset once we own it.”
