Developer Kier Group has bought a six-acre industrial site at Houndmills Industrial Estate in Basingstoke and plans to build a new speculative development.
Subject to planning approval, Kier plans to demolish the 1960s warehouse and office complex and replace with three new industrial units comprising 108,000 sq ft. Construction is expected to commence in summer 2016, with practical completion in August 2017.
George Shepherd, senior development manager at Kier Property, said: “Basingstoke has a complete lack of stock for grade A warehouses and we expect all units to be let or sold prior to practical completion.”
Lambert Smith Hampton, which acted for Kier Property on the deal, has now been instructed to market the speculative development of the three proposed units as joint letting agent with Hollis Hockley.
