28 Jan 2020
LONDON, 28 JANUARY 2020
Frasers Property UK today announced it has completed three key office lettings at Chineham Park in Basingstoke, Hampshire, totalling 48,000 sq ft.
Frasers Property UK, a business unit of Frasers Property Limited, which develops, owns and manages residential and commercial property in the UK, including a portfolio of business parks across the UK, revealed that US security company HID Global and UK cashless parking provider RingGo have both taken 10-year leases for space in the business park’s flagship Maplewood building.
These lettings, totalling 30,000 sq ft, were concluded within three months of practical completion of the 90,000-sq-ft refurbishment of the Maplewood building. The updated building offers high specification office space over three large, light and efficient floorplates.
Coinciding with the lettings at Maplewood, Merlin Entertainment, the UK-based entertainment group and owners of Legoland Resorts and Chessington World of Adventures, have signed a 10-year lease on the entire space of No.1 Elmwood totalling 18,066 sq ft.
CEO of Frasers Property UK, Ilaria del Beato commented: "Our vision is to establish thriving business communities across our parks where we provide spaces for people and enterprise to flourish. Central to this vision is the creation of high-standard workspaces and maintenance of good quality environments and amenities that are complemented by engaging and well-executed events. We continuously explore ways to enhance the accommodation and facilities at our parks. Recently refurbished Maplewood at Chineham Park, for example, is now a workspace for the future that is perfectly equipped to respond to the needs of our new occupiers.”
Jeremy Metcalfe, Partner at Hollis Hockley commented: “Letting 30,000 sq ft to such high calibre tenants is testament to the quality of the refurbished Maplewood. Grade A office supply in Basingstoke is at its lowest point for 15 years, so Maplewood is well positioned to secure further lettings in 2020.”
HID were advised by Cushman & Wakefield, RingGo were advised by CBRE, Merlin Entertainments were advised by Gerald Eve whilst Frasers Property UK was advised by Hollis Hockley and BNP Paribas Real Estate in relation to the aforesaid leases.