Construction of some 200,000 sq ft of shed space at St. Modwen Park Basingstoke is to commence this month.
The site will consist of three speculative units of 36,987 sq ft, 51,572 sq ft, and 97,781 sq ft which are scheduled be available in Q3 2021.
The Basingstoke site, owned freehold by Basingstoke and Deane Borough Council and held by lessee and global manufacturer ITT, is located within the wider Viables Business Park and will be known as St. Modwen Park Basingstoke.
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.
“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, added: “We’re completely aligned with St. Modwen’s ambition to transform this site.
“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.”