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Construction News
26/10/2011
Regeneration Partner Named For Major Re-development In Basingstoke
Muse Developments has been named as Basingstoke and Deane Borough Council’s regeneration partner for a £200 million regeneration project, which will establish Basing View as a 21st century business destination.
Muse - a nationally recognised regeneration developer delivering complex mixed use schemes across the country - will work with the council to develop in excess of 700,000 square feet on various council-owned land parcels within Basing View amounting to over 15 acres. The scheme will include: a mix of new office space; a business class hotel; and other supporting facilities to ensure Basing View is a first class destination. It is envisaged that the project has the potential to double the current number of jobs currently available at the business park to around 10,000.
Muse won two separate competitive tenders to work in partnership with the Council in developing five separate sites in Basing View and in addition a specific project to create a business class hotel in the western end of Basing View. These schemes will be managed from the company's southern office located in London.
The council has confirmed that it will commit £3.3 million to deliver critically important estate infrastructure improvements, which has already begun with the demolition of two redundant buildings and landscaping. The council has also earmarked a further £5 million of investment funds to help stimulate new development at the scheme.
This announcement follows the news that Network Rail are to locate a regional campus of circa 175,000 square feet on the land adjacent to Basing View that will link directly into the business park, further stimulating development at the scheme.
The Borough Council's Cabinet Member for Finance and Property, Councillor Ranil Jayawardena said: "We were delighted with the responses from the final bidders for the two competitions. The quality and commitment of the proposals is testimony to the Council’s strong support for Basing View and our willingness to play a pro-active role in the partnership. We are very pleased to be working with Muse Developments to drive forward our vision for a modern, regionally recognised, business destination – delivering real economic growth for Basingstoke and North Hampshire."
(CD/GK)
Muse - a nationally recognised regeneration developer delivering complex mixed use schemes across the country - will work with the council to develop in excess of 700,000 square feet on various council-owned land parcels within Basing View amounting to over 15 acres. The scheme will include: a mix of new office space; a business class hotel; and other supporting facilities to ensure Basing View is a first class destination. It is envisaged that the project has the potential to double the current number of jobs currently available at the business park to around 10,000.
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Muse won two separate competitive tenders to work in partnership with the Council in developing five separate sites in Basing View and in addition a specific project to create a business class hotel in the western end of Basing View. These schemes will be managed from the company's southern office located in London.
The council has confirmed that it will commit £3.3 million to deliver critically important estate infrastructure improvements, which has already begun with the demolition of two redundant buildings and landscaping. The council has also earmarked a further £5 million of investment funds to help stimulate new development at the scheme.
This announcement follows the news that Network Rail are to locate a regional campus of circa 175,000 square feet on the land adjacent to Basing View that will link directly into the business park, further stimulating development at the scheme.
The Borough Council's Cabinet Member for Finance and Property, Councillor Ranil Jayawardena said: "We were delighted with the responses from the final bidders for the two competitions. The quality and commitment of the proposals is testimony to the Council’s strong support for Basing View and our willingness to play a pro-active role in the partnership. We are very pleased to be working with Muse Developments to drive forward our vision for a modern, regionally recognised, business destination – delivering real economic growth for Basingstoke and North Hampshire."
(CD/GK)
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