Funding secured for £33m Mountbatten House revamp
Puma Property has agreed to finance a £33m redevelopment of the six-storey Mountbatten House in Basingstoke.
The Grade II listed building will be redeveloped into a modern workspace with a wellness and amenities offering. It will also be rebranded the ‘Plant’, in tribute to the garden terraces and wider sustainability features.
The 150,000 sq ft development will be designed to achieve an EPC ‘A’ rating, BREEAM ‘Outstanding’, WELL Platinum and Wired Score Platinum certifications.
Puma Property has agreed to finance a £33m redevelopment of the six-storey Mountbatten House in Basingstoke.
The Grade II listed building will be redeveloped into a modern workspace with a wellness and amenities offering. It will also be rebranded the ‘Plant’, in tribute to the garden terraces and wider sustainability features.
The 150,000 sq ft development will be designed to achieve an EPC ‘A’ rating, BREEAM ‘Outstanding’, WELL Platinum and Wired Score Platinum certifications.
The project is being led by Longstock Capital and Mactaggart Family & Partners.
Rahul Malde, senior manager at Puma, said: “Our appetite for the office sector remains predicated on delivering best-in-class ESG workspaces into local markets with robust occupier dynamics.
“We’re continuing to see a real flight to quality in the office market, and we’re only going to see more demand for developments that can deliver high sustainability credentials – particularly considering new legislation set to require all commercial buildings to have a minimum EPC rating of ‘B’ by 2030.”
Addleshaw Goddard acted for the borrower, Fieldfisher acted for Puma, and CMS acted for Basingstoke and Deane Borough Council. Savills and Hollis Hockley have been appointed as joint-leasing agents.
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Image © Puma
