The Florence Building is a brand new 5-storey 59,460 sq ft office development in the heart of Basingstoke, Hampshire. It represents the fourth in a series of speculative office buildings developed and equity financed by Abstract.
The building was completed in July 2018 and was let as a whole to Sovereign Housing Association in December 2018.
LGIM Real Assets (Legal + General) subsequently acquired the entire share capital of the owning entity, Abstract (Basingtoke) Limited.
With flexible internal floorplates achieving an EPC A rating and BREEAM Excellent 2014, with low operating costs through the use of highly sustainable technologies. The building is designed for occupancy of 1:8m2 with capacity to increase to 1:6m2.
The property was let on a new 20 year lease subject to minimum and maximum annual uplift, linked to RPI at rent review. This enabled a significant discount to open market rent.
Indeed, the resultant cost per workstation is the lowest for any new office building in the South East of England being under £2,500 per desk per annum.
The interior is finished to a full Cat A standard including air-conditioning, suspended metal ceilings, lighting and raised floors. A contemporary reception area will feature a double-height glazed atrium space.
The site will additionally provide secure parking for 203 cars, 24 electric vehicle fast-charging points and 48 secure and covered cycle spaces.
Basing View, the location for the Florence Building, is a major town centre business cluster spread over 65 acres and is home to a range of national and international organisations. A new John Lewis at Home and Waitrose store has recently opened and South West Trains and Network Rail have completed their multi million pound joint training and development centre.
Eli Lilly and Company have announced plans to relocate their new headquarters in Basingstoke to Basing View.