Construction company to build new speculative development in Basingstoke

One of the UK’s largest construction and development companies has purchased a new six-acre industrial site in Basingstoke with the aim of developing a new speculative development, a recent news report in the local business media has found.

Kier plans to demolish the 1960s industrial site at Houndmills Industrial Estate, which contains a large warehouse, a five-storey office block and an additional single storey office accommodation, and replace the properties with three new industrial units comprising about 108,000 sq ft of space.

Planning approval is anticipated in mid-April, with the site’s current owner occupier relocating to Chineham in June. Construction is then expected to commence in summer 2016, with practical completion in August 2017.

George Shepherd, senior development manager at Kier Property, described the purchase as "a great opportunity for all parties involved".

He said: "Basingstoke has a complete lack of stock for grade A warehouses and we expect all units to be let or sold prior to practical completion."

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