Muse Developments has signed two development agreements with Basingstoke and Deane Borough Council for the £200m Basing View regeneration scheme, to be built by Morgan Sindall.
CN reported in October that Morgan Sindall had won a contract to work with Basingstoke and Deane Borough Council on the £200 million regeneration scheme after its urban regeneration division Muse Developments was named as Basingstoke and Deane Borough Council’s regeneration partner.
Building work is due to start, subject to planning permission, at the end of 2013.
The scheme will create around 650,000 sq ft of new commercial led development over 15 acres and will include a mix of new office space, a business class hotel and other supporting facilities. It is envisaged that the project has the potential to double the number of jobs currently available at the business park to around 10,000 over 10 years.
The partners are working on a strategy to reposition the estate which will start with a £3.3m investment in the public realm, which will include improved connectivity to the town centre.
This work follows an announcement of £4.3 million of government funding to improve junction 6 of the M3 and Black Dam roundabout. The funding from the Highways Agency has been awarded to support new jobs in the town and will benefit the regeneration of Basing View.
Muse Developments regional director Mike Auger said: “We are delighted to have signed the development agreements for Basing View. It marks an important milestone for the scheme and will release its inherent potential as the leading commercial location in the M3 corridor which has been restricted by a lack of investment in recent years. We will now work closely with our partners towards submitting the first planning application in early 2013.”