Developer secures forward funding for Basingstoke scheme
Tungsten Properties has secured £26 million worth of funding from investor Leftfield to deliver a 124,000 ft2 two unit scheme in Basingstoke.
By Liza Helps, Property Editor, Logistics Matters
THE SCHEME known as Leftfield Park Basingstoke will see the speculative delivery of two industrial warehouses of 100,555 ft2 and and 23,275 ft2 respectively on a six-acre site on Crockford Lane.
The buildings 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.
MCS Build has been appointed to construct the buildings and will commence in April 2025 with practical completion due in January 2026. The project is forecast to create 110 construction jobs and 125 in the occupation phase.
This is Tungsten Properties’ second investment deal with Leftfield following its acquisition of the 246,000 ft2 Super W logistics unit at Appleton Thorn, Warrington which was let to Farmfoods.
Tungsten Properties development director David Mole, said: “There is a strong demand in the area from businesses seeking well-located and modern best-in-class space.
BNP Paribas acted on behalf of Tungsten Properties; Savills acted on behalf of Leftfield.
