Skelton Group Lands Biggest Town Centre Office Letting in Five Years

Posted by Baker Davidson Thomas on 31st August 2023 -

Skelton Group Investments Limited (Skelton Group) are pleased to confirm the letting of 21,000 sq ft of high-quality office space at Midpoint in Basingstoke to BNP Paribas Leasing Solutions (Leasing Solutions), in what is the largest office letting in Basingstoke town centre for 5 years.

Leasing Solutions, the asset finance arm of the global French bank BNP Paribas, have taken the 4^th floor and Part 5^th floor on a new 10-year lease, and will be relocating their 280 strong workforce from their existing offices in Northern Cross, Basing View to Midpoint later this year.  As part of the deal, Skelton Group is upgrading the air conditioning to a new and highly efficient VRF system, installing EV charging points as well as modifying the existing fit out on both floors to provide Leasing Solutions and their staff with a modern and well specified workspace.

Simon Keefe, director of Skelton Group said ‘’ We are delighted to have secured such an excellent tenant and major Basingstoke occupier for Midpoint. The adaption and reuse of most of the existing fit out has delivered Leasing Solutions with significant financial and environmental savings that could not be achieved elsewhere. This letting to Leasing Solutions comes on the back of recent lease renewals with existing tenants Once for All and CARS, leaving only one fully fitted suite of 6,100 sq ft available. The other occupier in the building is global infrastructure and environment consultancy Aecom.”

Leasing Solutions director Rachel Appleton said: ’’We had been based at our Basing View building since the early 1990’s and we wanted to move to more modern environmentally friendly premises in keeping with our corporate objectives. Midpoint ticks all the boxes for us by offering a new and modern reception area, flexible floor plates with good natural light, generous parking and near to the train station and local shops.  This coupled with the enhancements being undertaken by Skelton Group as part of the deal made Midpoint the preferred option, and we look forward to our move there later this year’’.

Brian Pickett of joint letting agents bdt said: ‘’Despite current uncertainties in the office market this deal demonstrates that there continues to be demand for a good quality product in the right location. Availability of good quality space in Basingstoke town centre is limited, particularly in the 10-20,000 sq ft range’’.

Bdt and Hollis Hockley were joint letting agents for Skelton Group. Leasing Solutions were represented by BNP Paribas Real Estate UK.

Note to Editor (Skelton): Following their acquisition of Midpoint, which is a 67,500 sq ft multi-let office building, in September 2019, Skelton Group have embarked on a proactive asset management strategy. Skelton Group is a private real estate investment company, which since being formed in 2001, has invested in over £500 million of commercial property, either on its own or in joint ventures.  Skelton Group are well funded opportunistic investor with a fast, flexible and reliable approach to property investment.

Web: https://www.skeltongroup.com/

Note to Editor (BNP Paribas Leasing Solutions): BNP Paribas Leasing Solutions helps companies to expand their business capabilities by offering tailored leasing and finance solutions. Our expert teams partner with equipment vendors that are looking to grow their sales, and businesses that require outsourcing services for assets such as commercial vehicles.

Web: https://leasingsolutions.bnpparibas.co.uk/

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