May 20, 2022
One of our Operating Partners, Packaged Living has partnered with Buccleuch Property are pleased to announce the acquisition of View Point in Basingstoke. View Point comprises a 59,000 sq ft office building and multi-storey car park on a 1.95 acre site. Packaged Living is to undertake the development of the existing redundant office site to create Basingstoke’s first institutional grade Build-to-Rent (“BTR”) scheme.
Packaged Living and Buccleuch Property have worked with architect Whittam Cox to design the proposed scheme and working with the local authority the business plan is to achieve planning consent before commencing construction.
Basingstoke, located 50 miles southwest of central London, is the largest town in Hampshire and benefits from excellent road and rail communications. It is very well connected to the UK road network being situated on the M3 motorway and within a 25-minute drive of the M25 motorway.
The site is prominently situated in Basingstoke’s Central Business District and less than 8-minutes’ walk to the train station which operates fast train services to London in under 45 minutes. The scheme is a short distance away from a diverse mix of retail, hospitality, and cultural uses, and will be ideally located to provide sustainable, urban living both for locals and those moving into the area for work.
The population of Basingstoke is forecast to grow 10% over the next 15 years which exceeds the average south east growth forecasts and, as a result, there will be a significant undersupply of housing in the local area. The scheme is well placed to meet the pressing need for new homes within the town centre and will help to enhance the quality of life for the growing population in the area. It will also support new jobs and provide vital investment at an important time.
As with all Packaged Living schemes, environmental and social values are at the heart of the design and the scheme will be targeting net zero carbon construction targets and selecting low embodied carbon in specified building targets.
Ed Ellerington, Founder and Managing Director of Packaged Living commented, “We are delighted to have partnered with Buccleuch to redevelop this dilapidated and redundant office building into Basingstoke’s premier, institutional grade BTR scheme which in turn will encourage more young professionals into the town supporting its economic growth. Basing View is a highly attractive commercial hub, and we hope by working with the local authority we can really add to the location as a destination to live and work creating a ‘best in class’ community for residents.”
Sandy Smith, Development Director of Buccleuch Property commented, “We are really looking forward to working with Packaged Living and Basingstoke & Dean Borough Council to bring forward Basingstoke’s first institutional grade BTR scheme.”