A BASINGSTOKE office park is proving to be a hot spot on the M3 motorway corridor after attracting six companies in just over eight months.

The latest company to take up space on Faraday Office Park, which is a Hostmead Developments' project, is Huawei Technologies, a dominant IT network supplier in the Chinese domestic market.

The company has signed a five-year lease at a rental of around £15-a-square-foot after an extensive search of the M3 and M4 office market.

Nick Olliffe, of letting agents Vail Williams, said: "Faraday Office Park was conceived to provide small to medium-sized businesses with self-contained units which give them their own identity.

"It has proved very popular despite the current market conditions and this is largely due to the developer's flexible leasing policy and willingness to consider long leasehold sales."

Earlier this year, Oriental Motor and First Connections agreed lease terms on 3,000 sq ft of office space which was followed by a £1.59million sale of 8,900 sq ft to Redrow Homes for its Southern division office, which was completed in July.

Further lettings have been secured with Ansoft Corporation Europe and a long leasehold sale on 3,000 sq ft is due to complete soon.

With six companies in occupation, only 19,639 sq ft of space is now available. The untaken space ranges from suites of 2,245 sq ft to a 10,132 sq ft building.

Mr Olliffe said: "Faraday has bucked the trend in terms of the high conversion percentage of interested parties and, therefore, we continue to be very positive about the letting and sale prospects for the remaining space over the next few months."

The lettings agents for Hostmead are Vail Williams and Baker Davidson Thomas.