Mark Glatman's Abstract Securities has announced that its associate company, Abstract (Basingstoke) Limited, will complete The Florence Building, its ‘uncompromising value’ office scheme, on 23 July 2018. It will be the Town’s first new speculative offices in 15 years offering the lowest cost per work station in the South East of England. Furthermore, 203 under-cover car parking spaces, will provide the best car parking ratio of any new speculative Town Centre office building in the South East.
A landmark development located in Basing View, Hampshire, The Florence Building comprises 60,535 sq.ft. of ‘Grade A’ space on ground and four upper floors. Notably, the building offers flexible, virtually column-free floorplates from approximately 9,200 sq.ft. to 12,400 sq.ft. It is designed to a BREEAM 'Excellent' 2014 and an EPC 'A' rating to provide some of the most efficient and environmentally friendly office accommodation available.
The interior will be finished to a full Cat A standard including air-conditioning, suspended metal ceilings, LED lighting and raised floors. A contemporary reception area will feature a double-height glazed atrium space, while lockers and shower facilities on the ground floor are adjacent to 48 secure covered cycle spaces. There is potential for up to 24 electric vehicle fast-charging points.
It is the fourth in a series of Abstract’s “uncompromising value” speculative office developments and follows on the heels of successful developments in Gatwick, Croydon and Glasgow, where a similar methodology has been well received by the market.
Mark Glatman, Chief Executive of Abstract, said: "Our scheme represents a superb opportunity for occupiers to take highly cost efficient space in Basing View, in a London-quality building with the ability to incorporate the latest workplace initiatives. For example, the 'cost per workstation' based on an occupancy of 1:8m2 per person in the Florence Building is just £3,400 per annum when compared with £3,700 in Farnborough, £4,800 in Reading and £5,600 in Guildford. Total occupancy cost in The Florence Building is over 75% lower than the West End core and nearly 30% lower than in central Reading*.”
A prime business location, Basing View offers an unparalleled location to enhance profitability and work life balance. It benefits from Enterprise Zone status with a new £10m landscaped public realm and a dynamic mix of office, retail and leisure amenities for staff.
Just eight minutes’ walk to the train station (42 minutes to London, Waterloo) and just five minutes’ walk to leisure amenities; a new proposed Village Hotel with gym, swimming pool, café and meeting/events space will soon join John Lewis Home and Waitrose.
Basingstoke is a rapidly growing town and one of the most affluent in the UK, surrounded by exceptional countryside with access to a significant pool of talent and easy access to some of the most desirable residential addresses.
The scheme is designed by TP Bennett and Bowmer & Kirkland is the contractor. Savills and RARE are jointly marketing The Florence Building.
(*Source: Savills and Rare 2018. Comparable buildings outlined above are based on occupational densities between 1:8m2 and 1:10m2)
Further information: Pauline@skylarkpublicrelations.com / mobile 07833 490964
About The Florence Building
The following comparison provides the 'cost per workstation' on additional selected towns. Based on an occupancy of 1:8m2 per person in the Florence Building is just £3,400 per annum when compared with £5,300 in Woking; £5,500 in Staines; £5,900 in Maidenhead; £7,600 in Hammersmith and £13,400 in London’s West End. Moreover, when occupied at the current design ratio of 1:8m2 per person, the building is more cost-effective than high-quality second-hand or refurbished office space in Basingstoke designed at 1:10m2 per person occupational density with costs coming in at £3,400 and £3,700 respectively.
Future proofing of the building includes: diverse connectivity to high-speed communication networks including Virgin and BT Openreach with potential for WiredScore ‘Gold’ Certification; dual HV power supply resilience and standby generation; ability to increase occupational density to 1.6 sq.m., that will lower the cost per work station to £2,600.
About Abstract Securities
Over the past 5 years Abstract has built or has under construction over 1 million sq.ft. of net lettable offices across the UK, together with a major office refurbishment of 250,000 sq.ft. making it one of the country’s largest regional developers. The Group undertakes development as a principal speculatively and for end users. Abstract also acts as a development manager under design and build arrangements and in joint venture partnerships.
Abstract has gained a strong reputation for delivering award winning schemes, including its new range of “uncompromising value” offices. These buildings deliver high specification, ‘Grade A’ space with top environmental credentials (BREEAM Excellent and EPC ‘A’ rated) with a tight design and procurement process, offering occupiers the best value and cost per workstation of any modern offices in their local market.