Green light for Basingstoke business park

Developer St. Modwen Industrial & Logistics has entered into a development agreement to create an 11.3-acre business park with Basingstoke and Deane Borough Council and leaseholder ITT.

The Basingstoke site, owned freehold by the Council and held by global multi-industrial manufacturers ITT, is located within the wider Viables Business Park and will be known as St. Modwen Park Basingstoke, following the grant of planning consent from the local authority.

As part of the agreement, St. Modwen will create new employment space in response to strong occupier demand and has permission to deliver up to 18,500m² of industrial and logistics space.

David McGougan, Senior Development Manager at St. Modwen Industrial & Logistics, said: “St. Modwen Park Basingstoke forms part of our strategy to grow a high-quality industrial and logistics portfolio.

“After obtaining planning permission at the start of this year, our breakthrough development agreement reaffirms our intention to press on with these plans and deliver an industry-leading employment scheme for Basingstoke.

“The terms we’ve agreed will enable us to fulfil the local authority’s aspiration to deliver regeneration and drive employment.”

Ravi Patel, Director of European Shared Services at ITT said: “We’re completely aligned with St. Modwen’s ambition to transform this site – their regeneration and industrial and logistics credentials speak for themselves. Now that terms are settled and the agreement is signed, we look forward to delivering an employment space that is fit for market demand together.”