AN AMBITIOUS plan to revamp the Basing View business park has taken a major step forward as the borough council has officially announced a development partner to spearhead the project.
Muse Developments has entered into development agreements with Basingstoke and Deane Borough Council to lead the £200million project.
The announcement comes more than a year after Muse was first linked to the project to transform Basing View into a flagship business park.
Muse will work with the borough council over the next 15 years to develop 650,000 sq ft on 15 acres of land at Basing View. The project will see the creation of new offices and a hotel as part of the development across five different sites. It is hoped the regeneration scheme will double the number of jobs at the business park to around 10,000.
The council has already started the transformation of the business park with the demolition of two office blocks, Loddon House, and City Wall House. It is currently in negotiation to demolish a third building.
Councillor Ranil Jayawardena, the borough’s deputy leader, said: “Completion of the agreements will enable us to drive forward our long-term commitment and investment in revitalising Basing View as a 21st century business destination.
“We have already acquired and demolished obsolete buildings on site, and this proactive approach is set to continue to facilitate new construction and investment.
Mike Auger, regional director for Muse Developments, said: “We are delighted to have signed the development agreements for Basing View. It marks an important milestone for the scheme and will release its inherent potential as the leading commercial location in the M3 corridor which has been restricted by a lack of investment in recent years.
“We will now work closely with our partners towards submitting the first planning application in early 2013.”