Urban logistics development for Basingstoke

By Liza Helps Property Editor Logistics Matters

THE DEVELOPER paid £8 million for the site on Crockford Lane five minutes from junction 6 of the M3 motorway, in a deal funded by Maven Capital Partners a subsidiary of Mattioli Woods.

The site has achieved planning permission for two warehouse units of 100,555 ft2 and 23,275 ft2 which will be net zero carbon ready and target BREEAM Excellent, an EPC A rating and positive biodiversity net gain through on-site measures.

Photovoltaics, air source heat pumps, and 20% active EV charging and 80% passive charging to all car parking spaces will be delivered to ensure businesses can occupy their space as efficiently as possible.

Subject to construction start, both units could be available from Q4 2024 with freehold and leasehold pre-sale and pre-let opportunities available.

Tungsten Properties development director David Mole, said: “We acquired this prime site as we believe there is a disparity between supply and demand of new ESG-led employment space in Basingstoke and the M3 corridor.

“We have recently seen a correction in industrial land values and this is our first acquisition since then with further opportunities in the pipeline. We continue to see a market for prime sites where we can identify such a disparity and are able to deliver our carbon efficient buildings to meet latent market demand.”

This  is the company’s third project with the Mattioli Woods following successful projects in Witney and Handcross. Maven Capital Partners investment director Ben Aspell, added: “The Group’s previous two projects with Tungsten delivered excellent returns to our private clients from mid-box industrial development and, while the industrial market has changed significantly over the past 15 months, there remains a distinct lack of premium stock, particularly in the small to mid-box market.”

BNP Paribas and Realest are the commercial leasing agents.