Mark Glatman's Abstract Securities has announced that its wholly owned subsidiary - Abstract (Basingstoke) Limited – has been granted detailed planning consent for ‘The Florence Building’, a high quality office scheme in Basing View, Basingstoke. This landmark development will be one of the key elements in the regeneration of Basingstoke’s Central Business District and is the first large speculative office development for 15 years in the Town Centre.
‘The Florence Building’ represents Abstract Securities’ next “uncompromising value”, speculative office development, providing 60,546 sq. ft. in Basing View, the central office core for the Town and just eight minutes’ walk from Basingstoke Railway Station and the central shopping area. The ‘Grade A’ building will be the most cost efficient new build office speculatively under construction anywhere in the South East.
The building comprises ground and four upper floors and offers flexible, virtually column free floor plates, from approximately 12,000 sq.ft. to 12,400 sq.ft. It will also include 203 under cover car parking spaces. Site enabling works by Basingstoke and Deane Borough Council are ongoing and work on the new building will follow on from the end of Quarter 1 2017, when the Council’s works are scheduled to have been completed. Building completion is targeted for Summer of 2018.
In line with all Abstract developments, the building will achieve a BREEAM 'Excellent' environmental standard and targets an EPC Rating of 'A', together with a base building design occupancy capable of accommodating from 1 person per 8 sq. m. and the capacity to increase this to 1 person per 6 sq. m., which will maximise the operational efficiency of the accommodation.
Mark Glatman, Chief Executive of Abstract Securities, said: “We are delighted to have achieved planning consent for The Florence Building in Basing View, which will bring Basingstoke its first high quality office scheme in 15 years and the most cost effective new office space in the South East. We have every confidence in Basingstoke as a business destination, with its excellent transport links, first class amenities and high quality work force.
“We continue to maintain that whilst quality and environmental performance remain key drivers for occupiers, value for money is fundamental. By continuing to exercise tight design and procurement processes, we will deliver a fantastic product at exceptional value, offering a cost per work station from only £3,200 per annum (based on an occupational density of 1:8m2), compared with competing areas at figures potentially as high as £4,500 to £5,700, whilst achieving an extremely comfortable working environment.
“With Basingstoke ranked as number one for digital businesses outside of London, ‘The Florence Building’ is well placed to attract the growing digital sector and big-name corporates thus creating more local employment and growth for the Town Centre.”
The scheme has been designed by TP Bennett. Bowmer & Kirkland have been appointed as the contractor. Savills and RARE are jointly appointed to market The Florence Building. Pinsent Mason are acting for Abstract on the project. Visit www.theflorencebuilding.com.