Tungsten Properties has secured a development forward-funding package from Leftfield to deliver two mid-box warehouses at Leftfield Park Basingstoke.
Tungsten has received planning permission to build warehouses of 100,555 sq ft and 23,275 sq ft on the six-acre site and has secured a maximum £26m commitment from Leftfield.
The buildings will be net zero carbon ready and Tungsten is targeting BREEAM Excellent and an EPC A rating.
MCS Build has been appointed to construct the buildings and practical completion is due in January 2026.
David Mole, development director at Tungsten Properties, said: “We are pleased to announce the commencement of development for these two high quality, mid-box warehouses for industrial and logistics occupiers. There is a strong demand in the area from businesses seeking well-located and modern best-in-class space. As this marks our second collaboration with Leftfield, we are excited to deliver a top-tier scheme for them.”
Nico Fourie, from Leftfield, added: “We continue to flesh out our Leftfield Fund III with quality warehouse assets. The geographic dispersion of properties in the fund is strategic and Basingstoke is a sought-after location for value accretion. Following our previous high-quality acquisition from Tungsten, they are a natural partner for further collaborations.”
BNP Paribas Real Estate acted for Tungsten Properties and Savills represented Leftfield.
